Many of you have asked me and evidentially the Michigan Association of Realtors legal councel has been getting this question too:

Can buyers in Michigan who buy on a land contract claim the $8000.00 tax credit?

Because the Federal Legislation is silent on the issue, Greg McClelland, our legal councel of the Mi Association of Realtors wrote an opinion on it.

If you want the entire opinion, leave me a comment here and I will email it to you.

The bottom line is “there is no rational basis for treating land contract purchases differently than mortgagors for the purpose of the credit.

The ruling is not hard to understand, hey, I even understood it. So I’ll be happy to pass it on.

Homes for Sale in Ann Arbor, and throughout Washtenaw County

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