Selling a home? Click here for a free Home Value Report.
In the last few years, it's become an increasingly common trend for buyers to get approved for a loan, get a home inspection done, then go out and make large purchases, before the home closes. It might sound like a great idea at the time to pair your new home with new furniture or a new car, but trust us, it's a bad idea in the long run. Lenders do credit checks the day before closing, and if they discover you have made some large purchases, it may affect your credit standing and your mortgage may be revoked. If you decide you have to make a purchase, don't use your credit card. If you can't afford it without your credit card, you definitely shouldn't buy it just yet.
As a buyer, you need to also avoid the "free" unofficial pre-approvals online. They mean nothing and could come back to hurt you when you are out looking for a home. You want to get pre-approved by a reputable lender before you start looking for a home, so you know what you can afford before you go out and start looking. It also allows you to pull the trigger quickly when you find the perfect home.
For sellers, having an accurate home valuation is very important. You can get one almost anywhere online, but keep in mind that an instant home valuation should be used as a starting point, not a final, absolute value. Don't put too much stock into your home's valuation until you talk to a professional about it. We can help you out and help you avoid frustration entirely.
If you have any questions, feel free to give us a call or send us an email. We look forward to speaking with you!
