Top Things To Avoid Before Closing On A House #shorts

Closed” and “approved” are two words that are commonly misunderstood when dealing with real estate.

Most buyers will be jumping for joy to receive notices with those words attached, keep in mind that the purchase of your home isn’t 100% secure.

Here are 8 things you should NOT do before closing on your dream house:

1. Avoid Big Purchases
Whether you’re planning on buying or leasing a new car, furniture or an investment property, now is not the time to spend money when negotiating the purchase of a home.


2. Establishing New Credit
Mortgage lenders are primarily looking at your debt to income ratio. Anything that increases your debt or drops your income can put your closing in danger.

3. Increase Credit Limits
The same with establishing new credit, increasing your credit limit tells mortgage lenders that you require further financial assistance and may be having trouble meeting your current obligations

4. Late Paying Your Bills
Paying your bills late can happen from time to time, but should be avoided at all costs during the closing process.

5. Close Bank Accounts
It doesn’t matter how long you’ve been with your current bank, leaving that bank will put the closing on your home in jeopardy.

6. Quit Your Job
Even if you’re changing jobs for more pay, you will be delaying the closing process. Your history of job stability and employment length at your current job are two factors that are closely reviewed when applying for a mortgage loan.

7. Skip On A Home Inspection
Skipping on a home inspection is a big no-no. A home inspection isn’t only for your benefit but for the mortgage lender as well.

8. Over Bid On A Home
Don’t bite off more than you can chew! With the current highly competitive Ottawa real estate market forcing buyers to push their offers over asking price, you, your real estate agent and broker need to keep in mind how high you can bid without financial risk.

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8 Things To Avoid Before Closing On A House----
https://www.paulrushforth.com/blog/what-to-avoid-before-closing-on-a-house/

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