Thursday, September 12, 2019 / by Judy Hamilton
Once you find your dream home, we need to make sure you get to move into it. This is Judy Hamilton, Realtor with Homes Judy.
There are ten things you must not do once you have an executed contract on your favorite home. That means both parties, buyer and seller, have signed off on the terms. Oh, my goodness, over the years we’ve seen so many buyers make these crucial mistakes after they’ve gone into contract with their dream home. Once you go into contract don’t do any of the following:
1. Don’t quit your job or change jobs
2. Don’t buy a new car, van or truck or a boat or you may end up living in it.
3. Don’t use any charge cards or let your accounts fall behind – NO late payments!
4. Don’t spend any money you have set aside for closing. Leave your bank account exactly as it was when you became pre-approved.
5. Don’t omit any debt or liabilities from your loan application.
6. Don’t buy any furniture even if the payment is deferred until after closing – it will still show up on your credit.
7. Don’t allow any additional inquiries on your credit except for insurance purposes.
8. Don’t make any large deposits or take out any large deposits without first checking with your lender or your agent.
9. Don’t change bank accounts.
10. Don’t co-sign on a loan for anyone, no matter what and be sure to tell your lender if you already are a co-signer for anyone, that debt goes against you.
I hope this helps, we want to make sure that you understand how to keep your home and actually close once we help you find it. Feel free to reach out to me with questions. I’m here for you. This is Judy with Homes by Judy. My services are free to home buyers.