Rockford Extends Incentive for Home Buyers

Rockford may be known as a sellers market right now, but that status may be quickly changing thanks to the extension of Rockford's Homebuyer's Property Tax Refund Program.

My husband and I purchased our first home over 7 years ago when the federal government was offering a first-time homebuyers refund incentive.. We bought a short sale, and I know our home ownership dream wouldn't have been possible if it wasn't for this little financial push from the government.  I can totally understand why the City of Rockford is extending this program started in 2016, and I encourage all those with home ownership dreams to take advantage of it.

Here's how it works in a nutshell...

With 81 distressed homes available in Rockford that are eligible for this program, I know you're probably thinking, "What's the catch?" or "What's the rules?" Here's what it says at homebuyerstaxrefund.org;

The program will apply to any distressed, single-family home, townhouse or condo under contract for sale and purchase between January 1st and December 31st of 2017. New construction single-family homes must have a building permit issued by December 31st of 2017 and sold to the new homeowners with an occupancy permit by December 31st of 2018.

Here's what I find interesting, this tax refund is not just an incentive for first-time home buyers, anyone who buys a home that meets the qualifications is able to take advantage of the program. Or at least that is the way it reads to me? Perhaps it's time to try my hand at home flipping?