"It takes less work to succeed

than to fail."

 

W. Clement Stone

 

 

When purchasing a home, especially for the first time, what may seem obvious can get lost in the details, which in real estate, is plenty.  From start to finish, your agent should be there to help you manage it all to insure a successful purchase.  Here are some ideas and suggestions to make sure your home buying plans will be a success  I have gleaned from my past 24 years of experience here in the Metro San Jose area and from other sources that will benefit you, even the most experienced home buyer.  This can be the difference of a smooth sale or major stress or a canceled sale, and will be especially critical if you are planning to get a loan to purchase your home or investment.

 

 

1.  Create paper trails for all deposits into your asset accounts.

 

2.  Be prepared to write letters of explanations for anything out of the ordinary, e.g., for inquiries into your credit report – for any reason – over the last 90 days -for any derogatory credit issues -for any employment gaps.

 

3.  Pay existing bills on time and keep credit as clean as possible.  Lenders do credit checks before closing any sale. 

 

4.  Make your down payment and closing funds immediately available by the time you enter a contract, if not sooner.

 

5.  Have a written proof of funds for closing costs and down payment before writing an offer.

 

6.  Speak with your loan officer if you have any questions regarding any of this information.

 

7.  Have a clear vision of what qualities and features you must have in your home versus like to have.

 

8.  Talk with your partner and decision makers about what you want-lots of fun!

 

9.  Get-approved for a loan so you know exactly where you stand and prove to seller of your ability to purchase.

 

10.  Talk to your agent, lender, and other vendors often so we can help you achieve your objectives.

 

11.  Make it a point to stay focused to purchase and allow necessary time in what is likely to be one of your largest purchase and financial decision.  It is very possible to do your due diligence and purchase and close the sale in 40-60 days, and many can be done sooner.

 

 

 

1.  Don't take out any new credit during your loan application – wait until your loan has closed.

 

2.  This means no furniture shopping, new window treatments and especially no “Buy now –Pay later” type of financing.

 

3.  Use your line-of-credit to purchase anything.

 

4.  Make any large purchases using your credit cards.

 

5.  Co-sign on a loan for anyone else.

 

6.  Pay for the mover upfront – ask to be billed later.

 

7.  Go car shopping even if not ready to buy yet – the dealer may pull your credit that will result in an additional inquiry.

 

8.  Add to your current debt load as of application time until after closing-no major purchases, loans, leases or other liabilities.

 

9.  Pay late on any obligation.

 

10.  Wait to last second, be proactive, ask questions, take action, and plan for what is a detailed process.  Be sure to run any question through your sales professional to confirm your objectives.

 

 

 

These are some of the many do's and don'ts to consider.  Should you have any questions, do not hesitate to ask me to insure your success.  It is important to us to make sure you have a productive and beneficial experience in one of your largest financial decisions you are likely to make.  We pride ourselves on representing you with the level of professional care you deserve, right?!!  Remember, no question is too small so be sure and ask because it is likely we have heard it before!  Let us help you make the right decisions when it matters most!

 

 

 

For more information or to schedule your own Free Custom Home buyer Strategy Meeting, contact us today!  Let us help you review your purchasing plans, show you where some of the best values are, and how our experience and commitment will provide the competitive advantage you need and deserve.

 

 

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