4 Tips to Ensure a Smooth Homebuying Process
When you’re in the middle of the homebuying process, it’s not always smooth sailing when your offer has been accepted. In fact, here are some things that you want to keep on your radar in order to ensure a smooth homebuying process.
Don’t forget to pay your bills.
During the moving and home searching process, it can be easy to let the deadlines pass by in the shuffle. Make sure that you don’t forget to pay your bills because this could delay the lien certificate, as well as the title when it comes time to transfer it to the new owner. Other than staying on top of bills, some buyers find it helpful to transfer funds into the title company’s escrow account to cover these sort of unexpected expenses.
Be prepared for unexpected damage.
From a fallen tree to water damage, you never know what could happen during the homebuying process. Since the seller is responsible for any damage to the home that happens before closing, make sure that you do your own homework. For instance, make sure that your home insurance will begin coverage on closing day. Also, make sure that you have a very thorough home inspection so that you can address any issues with the sellers beforehand.
Get your property surveys done if needed.
The last thing you want to find out is that a third of your lawn actually belongs to your neighbors. To avoid this kind of boundary issue, get surveys done so that you can clearly see the parameters of a home before you commit to it.
Expect your credit score to be checked more than once.
If you think that your credit score will only be checked once during pre-approval, think again. Lenders will be continually assessing your credit and your spending habits as well as making sure your income isn’t heavily fluctuating to ensure that you’re able to pay your mortgage. Don’t lose your mortgage or your opportunity to buy your dream home. Instead, hold back on spending too much or adding expenses to your credit card.