It appears that the new tax credit of $8000 can be used for a down payment. There is some confusion about how it all works, and more confusion about whether the tax credit can be used.
One newspaper in AZ reported a fairly even report about the issue. The comments also give a few different perspectives about the usefulness of applying the credit to a down payment.
Whether it is used as a down payment or as a tax credit, it is still eight grand toward a new home! In my area, the foreclosures can all use $8K in fixes, so allowing that credit to be used as a down payment so the buyer can use their cash to fix things doesn't seem all that bad an idea.
If you know someone who hasn't owned a home in the last three years, they qualify as a first time buyer and can get the credit.
Happy listing and selling!
Heath Coker, Associate Broker
Robert Paul Properties
www.CapeGroup.com / firstname.lastname@example.org
508-274-5613 Licensed in MA
Its a beautiful day on Cape Cod!
@CapeGroup Skype: heath.coker