What NOT to do…

Buying a home can be quite the process, which is why it’s so important to hire a real estate agent to guide you through the transaction. But even with the help of a Realtor, there are things you must avoid doing as a buyer that would get in the way of a deal. Your job as a buyer is to make sure you don’t hinder your own success by making one of the common mistakes made by aspiring homeowners everywhere. Take a look at what NOT to do:

Don’t buy a car… or make any other purchases on big ticket items for that matter. It is certainly tempting to get a new ride to go along with that new driveway, but buyer beware because that new car could end up costing you the approval on a loan needed to buy the house. Think about it from the lender’s standpoint. The sky-high car payment you just added to your monthly expenses could interfere with your ability to pay the mortgage.

Don’t change jobs. Stay put wherever you are, if you can. Show the lender that your life is full of stability by not making changes to your employment status just before diving into a home loan. If you hate your job, wait until after the house has been closed on to start interviewing for a new one.

Don’t worry. Appraisals don’t always come in high enough, but it is not the end of the world. Work with your agent to negotiate with the seller to lower the price. Sometimes the seller will readjust the price to make up for the difference. If that doesn’t work and you really have your heart set on this particular property, try a higher down payment. The last option is to dispute the appraisal itself.

Don’t give earnest money to a seller that doesn’t have an agent. A transaction relating to a home that is for sale by owner, should be treated slightly differently than one that is not. We recommend hiring the help of an attorney that will hold the deposit until the transaction is complete along with a clear contract that outlines what will happen in the event that the transaction is cancelled.

Don’t forget to turn in paperwork. There are many deadlines throughout the home buying process and it is important all paperwork is turned in on time. This is especially true in regards to your lender. Don’t make this rookie mistake as it could cost you your dream home.

Don’t get too personal. Remember, it is ultimately the seller’s decision who they want to sell to, so it’s best to keep it all business in order to avoid being disliked. A well intended comment could be taken the wrong way, put you on the seller’s bad side and ultimately change their mind about who they want to sell to.

A few other things NOT to do: don’t miss the inspection, forget to sign up for hazard insurance or turn on utilities. Sometimes, it’s the small things that slip our minds. Hopefully this list will help you forget what’s important and avoid any missteps that could put a snag in the transaction. Happy house hunting!