Things you absolutely should NOT do!

  • TOP MISTAKES YOU CAN MAKE WHEN SHOPPING FOR A HOME

    • Trash talk the property in front of the owners
    • Give away your negotiation power by speaking in the house (always assume you are being recorded, even up to 40 ft away from the front door!)
    • Post your real estate thoughts on social media sites (these can easily be viewed)
    • Fail to realize it is possible to find what you want the very first day you go out looking (this happens more than you think...)
    • Sleep on it (in a hot market, if you sleep on it, you might not get to sleep in it)
    • Wait to find the absolute PERFECT house (you will always be limited by income, zoning, legislation and/or property taxes, and inventory at the time)
    • Violate 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
    • Go window shopping and allow people to pull your credit report 
    • Have unreasonable expectations
    • Believe what you see on HGTV and reality television (the majority of that stuff is scripted)
    • Consider a short-sale property if you want to be in control of the process or need to move immediately
    • Look for a home before being FULLY approved for a loan
    • Get advice from a buying committee that has not purchased in the last year (the rules change almost daily)
    • Neglect to purchase a home warranty (depends on the home)
    • Neglect to get a home inspection

    TOP MISTAKES YOU CAN MAKE WHEN WORKING WITH A REAL ESTATE AGENT

    • Talk to sellers directly rather than consult with your agent (loose lips sink ships)
    • Not tell your agent if you are allergic to animals
    • Not tell your agent what is most important to you
    • Call other agents you see on "For Sale" signs
    • Attend open houses and new construction without your agent
    • Call at the very last minute to cancel appointments

    TOP MISTAKES YOU CAN MAKE BEFORE AND DURING THE CLOSING TRANSACTION

    • Use an attorney that does not specialize in Real Estate
    • Schedule a vacation before the closing (especially a cruise)
    • Die before the transaction closes (this will mess things up BIG TIME! Please don't die before the closing…)
    • Send a wire transfer! No matter who a call or email comes from, please call your agent before wiring any money. Scammers are very good at this now! It also helps if you do not close on a Friday.

    TOP MISTAKES YOU CAN MAKE WHEN SHOPPING AND APPLYING FOR A MORTGAGE

    • Quit or change your job
    • Change your name
    • Buy any big-ticket items
    • Make David Copperfield deposits (all funds need to be traceable)
    • Not shop the good-faith estimate
    • 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
    • Forget to obtain or request a gift letter and bank statement for funds
    • Withhold information from the lender about child support, alimony, wage garnishments or any other payroll reduction
    • Fail to recognize the clock starts ticking from the time the loan officer gets the contract, (not from the date the contract was written)
    • Delay paperwork because you are irritated by the frequency and number of requests from the mortgage company
    • Co-sign for anything—not even a candy bar
    • Find a lender on the Internet that offers a 000000.1 interest rate and is from outside of the area
    • Use a 100% Online Lender
    • Sign mortgage documents with a name other than what is listed on your driver's license (use Jr. and Sr. if required)
    • Be oblivious to mortgage fraud (if it can't be written on the front page of the contract because its being done "under the table", it is probably fraudulent)

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