Just to clarify: All first time homebuyers, You have to close by Nov. 30, to receive the $8,000 tax credit in 2010. The tax credit statute requires buyers to FULLY CLOSE on their purchases-(not just be under contract)-no later than Nov.30 CLICK HERE TO READ ON FOR COMPLETE GUIDELINES.
If you are thinking of buying your 1st home you may want to factor in losing out on this credit. For example, if you would normally get a $2,000 tax refund you may now get a $10,000 refund instead! SEE IRS GUIDELINES.