Looking To Purchase A Home This Year?
Here Are 13 Things NOT To Do If You Want To Get Your Dream Home
13 THINGS YOU ABSOLUTELY SHOULD NOT DO BEFORE CLOSING ON YOUR NEW HOME
1. Do not change or quit your job during the process and Do not change your name before closing.
2. Do not buy any large ticket items (like five dollars or more) Seriously!
3. Do not Make David Copperfield deposits. All funds need to be traceable and show proof of where they originated from.
4. Do not talk to the Sellers directly (loose lips sink ships)
5. Do not lie to your lender about your child support, alimony, wage garnishments or any other payroll reductions. It will eventually come out and will effect your ability to get your home.
6. Do not call the owner on a “For Sale By Owner” sign. Let your agent contact them to set up a showing and request more information in order to keep professionalism and your protection in place.
7. Do not choose a lender off the internet only because they offer a 0.001 interest rate. A good lender is so very crucial to your process and they can make or break your ability to get a home.
8. Do not wait to find the absolute PERFECT house. You will always be limited by income, zoning, inventory at that time, and even property taxes. Think of every home to be an investment and choose wisely with your mind and not necessarily with your heart. Understand the 80/10/10 Rule If you find a house that has 80% of what you are looking for, 10% of things you can change and 10% of things you can live with, then it’s a keeper!
9. Do not co-sign for even a candy bar! Do not even go window shopping and let people pull your credit!
10. Do not order Direct TV, Cable, Telephone or any utility that will pull a credit report unless you want to write a letter of explanation about the credit report to the mortgage company
11. Do not give away your negotiation power by speaking frankly in the house during a viewing. (always assume you are being recorded)
12. Do not shop for your new home before being FULLY approved for a home loan. Nothing hurts as much as finding the house you love and then you loose it when someone else beats you to it because you were not completely ready to make an offer with a pre-approval letter.
13. Dying before the transaction closes (this really messes things up, BIG TIME! Please don’t die before the closing… 🙂