The 2010 Buyer Bonus program has begun! This national sales event extends the benefits of the tax credit program, which expired April 30th.

The Home Buyer Tax Credit was created to stimulate the U.S. housing market and address the economic challenges facing our nation. But the Tax Credit expired on April 30, 2010 and home sales are expected to slow down without a similar incentive.

The Coldwell Banker brand designed a way to keep home buyers in the market after April 30th with the introduction of The Buyer Bonus program while extending the benefits of the government program to a much wider audience of potential homebuyers.

How the program will work:

The event began May 1st and ends on July 31st. The launch coincided with the April 30th expiration of the government’s Homebuyer Tax Credit.

Participating home sellers agree to refund 3% of their final purchase price as a credit of up to $8,000 to the buyer at close. It’s open to all home buyers and there are no eligibility or qualification restrictions. According to The National Association of Realtors News Release, dated 11/5/09, the original bill has been credited with helping approximately 2 million people to date, adding an estimated $22 billion to the general economy.