What NOT To Do Before Closing
Buying a house can be an exciting but tense time. All the active searching, showing, and deciding turns into a whole lot of waiting, some signing and then more waiting. This is the dreaded, but important, closing stage. Many people can be tempted to exchange all their waiting around for something more productive.
Here at Highlands Realty Inc., we have your back! Below are a few key things NOT to do while waiting on your new dream home to close.
1.) Usually, it is a good idea to not pay off any existing accounts that you have. Don’t close, open, or switch banks or account types. Try your best to keep all your accounts as they were before signing your paperwork. In general, it is best to double check with your loan officer before making any big changes to your accounts.
2.) One that some may not think of is marital status. Your legal name will be on many documents so changing your marital status can lead to more waiting as the lender and title company prepare correct documents.
3.) Changing your job mid-closing can turn your whole process upside down. Even if you were pre-approved, losing or changing job, especially changing to a lower paying job, can cause your loan to be denied
4.) Last but not least, making a large purchase can cause you to lose your loan. It’s best to wait until after the closing to purchase appliances, furniture or any other significant withdrawal from your accounts.