The top 10 mistakes buyers shouldn't make after going under contract.
Once you find your dream home, you don’t want to mess up your purchase. Over the years, we’ve seen buyers make many critical mistakes after they’ve gone under contract. Here are the top 10 mistakes buyers make when purchasing a home that you want to avoid:
1. Don’t become self-employed or change or quit your job. Any change could affect your credit and ability to purchase a house.
2. Don’t buy a new car, van, or truck. Otherwise, you may end up living in it.
3. Don’t use any charge or credit cards or fall behind on payments.
4. Don’t spend any money you’ve set aside for closing.
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, the purchase can change your credit.
**7. Don’t allow any credit inquiries, except for insurance purposes. **
8. Don’t make any larger deposits or withdrawals from your bank account. If you feel you need to, check with your lender or real estate agent first.
9. Don’t change bank accounts.
10. Don’t cosign on a loan for anyone. Also, make sure to tell your lender if you’re already a cosigner for someone because that debt still counts against you.
We want to make sure you get to close on your dream home after you find it. So if you have questions about this list or anything else, please email us. We would love to help you.
