The government’s first time homebuyer $8,000 tax credit has helped stimulate home sales, but buyers still hoping to take advantage of it will have to beat the clock.

The tax credit expires Nov. 30, giving buyers about 12 weeks to find, contract and settle on their purchase. The National Association of Realtors says on average, first-time buyers search 12 weeks to find a home, and closing can take up to 60 additional days.

The group says buyers still hoping to qualify for the credit will have to act quickly.

“By moving quickly, being prepared to make decisions in the face of increased competition, and [learning] from others to reduce time without cutting corners, first-time homebuyers starting today can close on time and quality for the $8,000 federal tax credit,” says Errol Samuelson, president of Realtor.com.

The tax credit was cited as the most important reason for buying by 10.8 percent of current homebuyers in a Realtor.com survey. An estimated 1.4 million buyers have already filed for the credit, with that number likely to swell by the time tax returns are due next April.

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First time buyers face deadline