2010 Tax Credit for New Home / First-Time Buyer

2010 Tax Credit for New Home / First-Time Buyer: "Reservation Requests: We will accept reservation requests for the New Home Credit by fax only beginning May 1, 2010. If you are applying for the First-Time Buyer Credit, you will not be able to request a reservation before escrow closes. Reservation requests received before May 1, 2010, or after escrow closes will be denied.

If a buyer wishes to request a reservation, before the close of escrow:
The seller must complete Parts I, II, & III of Form 3549-RR, Reservation Request for New Home Credit.
The buyer completes Parts IV & V.
Fax the completed Form 3549-RR and the required pages of the purchase agreement to FTB at 916.855.5577. If escrow has opened, it is best for the escrow person, on behalf of the buyer and seller, to fax the completed Form 3549-RR and the required pages of the purchase agreement to FTB and provide a copy to the buyer. If escrow has not opened, the buyer may fax it to FTB. (The buyer retains ultimate responsibility to ensure the completed reservation request and the required pages of the purchase agreement are submitted timely to the FTB.)
Do not fax the entire purchase agreement. Only fax the pages which show:
Property address
Buyer's name
Seller's name
Purchase price
Deposit amount
Buyer's signature
Seller's signature"