The $8,000 first-time homebuyer tax credit expires on Dec. 1, 2009

You must have closed on the property before Dec. 1, 2009, and you must immediately occupy it as your primary residence. Since it is taking 60 to 90 days to close a transaction, it would wise to get a house under contract To close before the deadline.

Once you have closed before the dead line Talk to your Tax Preparer about filing the IRS Form 5405 on your 2009 income tax return to take credit in 2008.