The Real Deal Miami

Buyers work against calendar to close before tax credit deadline

November 02, 2009 02:42PM

The Nov. 30 expiration of the $8,000 first-time homebuyer federal tax credit has buyers trying to close deals as quickly as possible, a task made even more difficult by a calendar quirk. Nov. 30 is a Monday, meaning paperwork would mostly have to be completed the previous week, which includes the Wednesday before Thanksgiving, Thanksgiving Day, and the unofficial shopping holiday of Black Friday. The Senate has reached a tentative deal on an extension of the deadline and is slated to vote on the proposal this week. [Palm Beach Post]