When I’m consulting with a buyer, no matter if it’s their first or fifth home purchase, I’m always sure to go over the process and costs involved in great detail. Most important of all, I go over the “10 Commandments” of buying a home. I understand no one likes to be preached at, but these are homebuyer musts as you move through the process.
Without further ado, thou shall not:
1. Change jobs or become self-employed.
2. Buy a new vehicle.
3. Use credit cards to excess or let your accounts fall behind.
4. Use money specifically reserved for closing costs.
5. Omit financial debts or liabilities from your loan application.
6. Buy furniture (even if payments are deferred until after closing).
7. Allow additional credit inquiries (except for insurance purposes).
8. Make large deposits without first checking with your loan officer.
9. Change, open, or close any bank accounts.
10. Cosign on a loan no matter who it’s for.
There’s so much to learn when making a home purchase. It’s so important to negotiate from strength and purchase with confidence. At Adkins Real Estate, we want you to love where you live because we understand there’s no place like home!
If you have any questions about the buying process (or if you’ve broken a commandment), you had better confess to your lender or my team and I straight away. We’d be happy to help however we can!