Buyers

Do's and Don'ts

  • Don't wait

  • Don't change your job

  • Don't do anything that affects your credit

  • DON'T quit your job - Or change jobs or get a promotion

  • DON'T buy any large ticket items (like five dollars or more!)

  • DON'T make David Copperfield deposits (all funds need to be traceable)

  • DO get a gift letter and a bank statement for funds

  • DO tell 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 had the money to give

  • DO tell me if you are allergic to animals

  • DO be completely honest with the lender about child support, alimony, wage garnishments or any other payroll reduction

  • DON'T make a major purchase (like $5.00 or more)

  • DON'T talk to Sellers directly (loose lips sink ships)

  • DON'T get advice from a buying committee that has not purchased in the last year (the rules change almost daily)

  • DON'T wait to see everything else that is on the market

  • DON'T trash the property in front of the owners

  • DON'T call the other agent on "For Sale" signs

  • DON'T attend open houses and new construction without me

  • DO tell me if you have a house to sell

  • DON'T delay paperwork because you are irritated by the frequency and number of request from the Mortgage Company

  • DON'T look for a lender on the internet that offers a 0.001 interest rate

  • DO realize it is possible to find what you are looking for the very first day you go out (this happens more than you think...)

  • DON'T go home to sleep on it (in a hot market, if you sleep on it, you might not get to sleep in it)

  • DON'T wait to find the absolute PERFECT house. You will always be limited by income, zoning, inventory at the time, and/or legislation and or property taxes.

  • DON'T forget the 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 things you can live with, it's a keeper.

  • DON'T co-sign for anything - even a candy bar!

  • DON'T schedule a vacation before we close (especially a cruise)

  • DON'T order Direct TV, Cable, Telephone or any utility that will pull a credit report unless you want to write a letter of explanation about the credit report to the mortgage company

  • DON'T change your name during the mortgage process

  • DO be up front with your loan officer (don't hide information)

  • DO realize the clock starts ticking from the time the loan officer gets the contract, not the date it was written)

  • DON'T have unreasonable expectations

  • DO get a home warranty

  • DON'T give away your negotiation power by speaking in the house (always assume you are being recorded)

  • DON'T post your real estate thoughts on social media sites (If someone is savvy, this can easily be viewed)

  • DON'T skip having a home inspection

  • DO be FULLY approved BEFORE you go looking (nothing hurts as much as finding the house you love and you lose it when someone else beats you to it because you were not completely ready)

  • DON'T believe what you see on HGTV and reality television (the majority of that stuff is scripted)

  • DO shop the good faith estimate instead of just the interest rate

  • DO tell me what is MOST important to you

  • DON'T call at the very last minute to cancel appointments, if you can help it

  • DO use a local lender

  • DON'T an Online Lender

  • DO use an Attorney that SPECIALIZES in Real Estate

  • DON'T use the name on your driver's license for mortgage docs (use Jr. and Sr. if required)

  • DO tell your lender if you lose your job before you close

  • DON'T go window shopping and let people pull your credit

  • If it can't be written on the front page of the contract because it's being done "under the table," it is probably mortgage fraud

  • DON'T look at a short-sale if you need to move immediately

  • DON'T consider a short-sale if you need to be in control of the process