Miss L asked:


…If I am living in one state and plan on purchasing in another. (I live in Florida and I would like to purchase-soon- in North Carolina but I will not be relocating this year so Im still a Fla resident).

Can someone explain the specifics of the first time home buyer program as it relates to a resident in one state purchasing in another? Thanks.
It is an investment property in an area that I know has done well. It’s in a quiet area in driving distance of a business park, mall and university. I didn’t buy the first phase but I would like to buy into the second phase of brand new townhomes. I already know 3 people who built and had renters within the first 2 mos. so Im not worried about the location.

Also, I have been with my job for 2 1/2 years and I have a good financial situation. I’ve never owned a home so I was wondering would this program apply to me (given the fact that I want to buy out of state).

Mario

Nate asked:


Just wondering if anyone knows if the first-time home buyer tax credit that’s being offered is good towards to purchase of a foreclosure or home purchased through a county tax sale? How would this work? Where can I find more information on the specifics of the tax credit?

Brent