The bill to extend the Homebuyers Tax Credit passed the house and congress this week it will now see President Obama’s desk. Over 180,000 homebuyers were unable to make the June 30th deadline through no fault of their own. The extension will be expected to aid the homebuyers participating in the Homebuyer Tax Credit that have met all the standards required, until September 30, 2010 to close their real estate transactions.

According to John Sebree, Vice President of Public Policy for the Florida Realtors, “Buyers didn’t know when they signed the contract it was going to take the bank four months to close the deal, it’s really not good for the real estate market to have such uncertainty.”