Buying a home is a process, don't make it more difficult for yourself by doing any of these things:
- Don't quit your job
- Don't change your job
- Don't get a promotion
- Don't buy any large ticket items (like five dollars or more!)
- Don't Make David Copperfield deposits (all funds need to be traceable)
- Don't talk to Sellers directly (loose lips sink ships)
- Not getting a gift letter and a bank statement for funds
- Not telling the person who is giving you the gift that you will probably need a gift letter and some proof (usually a bank statement) that they had the money to give
- Not telling me if you are allergic to animals
- Not being completely honest with the lender about child support, alimony, wage garnishments or any other payroll reduction
- Getting advice from a buying committee that has not purchased in the last year (the rules change almost daily)
- Waiting to see everything else that is on the market
- Don't trash the property in front of the owners
- Calling the other agent on "For Sale" signs
- Attending open houses and new construction without me
- Not telling me if you have a house to sell
- Delaying paperwork because you are irritated by the frequency and number of request from the Mortgage Company
- Not realizing it is possible to find what you are looking for the very first day you go out (this happens more than you think…)
- Going home to sleep on it (in a hot market, if you sleep on it, you might not get to sleep in it)
- Waiting to find the absolute PERFECT house. You will always be limited by income, zoning, inventory at the time, and/or legislation and or property taxes.
- 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, It’s a keeper!
- Do not co-sign for even a candy bar!
- Don't schedule a vacation before we close (especially a cruise)
- Don't 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
- Don't change your name during the mortgage process
- Not being upfront with your loan officer (hiding information)
- Not realizing the clock starts ticking from the time the loan officer get the contract, not the date it was written)
- Need a letter of explanation
- Unreasonable expectations
- Not getting a home warranty
- Giving away your negotiation power by speaking in the house (always assume you are being recorded)
- Posting your real estate thoughts on social media sites (If you are savvy, this can easily be viewed)
- Not getting a home inspection
- Not being FULLY approved BEFORE you go looking (nothing hurts as much as finding the house you love and you loose it when someone else beats you to it because you were not completely ready)
- Believing what you see on HGTV and reality television (the majority of that stuff is scripted)
- Not shopping the good faith estimate
- Not telling me what is MOST important to you
- Calling at the very last minute to cancel appointments
- Finding a lender on the internet that offers a 000000.1 interest rate and is from outside of the area
- Using a 100% Online Lender
- Not using an Attorney that SPECIALIZES in Real Estate
- Not using name on driver’s license for mortgage docs (use Jr. and Sr. if required)
- Not telling your lender if you lose your job before you close
- Do not go window shopping and let people pull your credit
- If it can't be written on the front page of the contract because it’s being done "under the table", it is probably mortgage fraud
- Do not look at a short-sale if you need to move immediately
- Do not consider a short-sale if you need to be in control of the process
Dying before the transaction closes (this really messes things up, BIG TIME! Please don't die before the closing.
