Five Things That Can Stop A House Sale In Its Tracks-
You might think that once you’ve found your dream home, pre-qualified for a loan and had the inspection that you’re home free!! Just a few more days and that new home is yours...
BUT a home purchase is never truly done until those keys are in your hand, and if you’re not careful in the days and weeks leading up to your closing, you could actually put your sale at risk.
Want to make sure your home purchase goes smoothly every step of the way? Here are five things you’ll want to avoid:
1. Big Purchases-
You were approved for your loan based on your credit score and current financial situation. Big purchases like cars, furniture or appliances change that financial situation. This will make your lender rethink lending to you because of the drastic change.
2. New Lines of Credit-
Your credit score needs to remain stable during the closing process. Opening new lines of credit like getting a car loan or a new credit card can make your credit score drop. The lenders are watching you like a hawk.
3. Employment Changes-
This is a big one! Don't lose your job and don't change your job position if you can help it. If these change the lender might have to start the process over.
4. Late Payments-
Make sure you’re keeping up with all your loan, credit card and debt payments during the closing process because any late payments can seriously mess up your credit score—and your chances of getting that home. If you’re overwhelmed with to-dos, take a few minutes to set up auto payments through your bank account. You’ll be glad you did!
5. Incorrect or Missing Documents-
Errors on any document can cause delays in closing, but missing ones can stop the process altogether with most lenders. Make sure to quickly respond to any requests for additional documentation, and give your lender all the paperwork they need to keep things rolling. You can do this!
Keep your documents in order, ask questions, and keep the ball rolling.
With any questions call me today!
Katrina Jo Miller
Haven Real Estate