Things Home Buyers Should Never Do
Thinking of buying a home in the Lakes Region? There are a lot of things that out there that can make the process confusing. Below is a list of things to avoid while in the buying process.
Contact me if you have questions or would like to talk more about buying Lakes Region property.
- Don't quit your job
- Don't change your job
- Don't get a promotion
- Don't buy large ticket items
- 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 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 have the funds to gift
- Not being completely honest with the lender about child support, alimony, wage garnishment or any other payroll deduction
- Get advice from others who have not bought recently
- Waiting to see everything else on the market
- Trash talking the property in front of the owners
- Delaying paperwork to the Mortgage Company because they keep asking for the same paperwork over and over
- Waiting to find the PERFECT house.
- 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 the things you can live with, it's a keeper
- Do not co-sign on anything
- Don't schedule a vacation before closing
- 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
- Believing what you see on HGTV and reality television
- Not telling your lender if you lose your job
- Window shopping and having people pull your credit
- Not communicating with your agent
- Dying before the transaction closes, this really messes things up!
