- Your mortgage application will drive you crazy.
You will be asked for piles of paperwork you don’t have, including blank pages from previous bank statements, you will be asked for paperwork you have already submitted and that has been acknowledged as being received, again.
- The mortgage company will do a credit check and employment verification just before settlement.
If you have done anything that affects or lowers your credit or changed jobs your loan may be denied.
- The mortgage company will ask for information at the last minute.
Even on the day of settlementyour lender may ask for information that is almost impossible to obtain in the time before settlement. (We told you the mortgage process will drive you cazy.)
- You post information on social media about your transaction.
Everybody today is researching their buyers and sellers, so watch what you say as it may very well weaken your negotiating position if you say how much you love the house you just made an offer on and that you have to get it.
- The home inspector is paid to find stuff.
Every home inspector will find some things wrong with a house, the seller may truly not know about them, so stay calm and let us negotiate the home inspection to a satisfactory conclusion.
- The title search may reveal people with similar names.
Some of these people may have outstanding judgments against them and require you to sign an affidavit that this person is not you. No one is accusing you of being a bad person, it is a fact of life that the regulations require this today.
- The people on the other side of the transaction are not moving at the same pace or on the same time line as you are.
Just because you have a deadline for whatever reason, it is not certain the party on the other side is moving at the same pace or has the same motivation as you.
- Lots of people outside of the transaction, friends, co-workers and family will be willing to give you plenty of FREE advice.
We are not trying to knock your family or friends, but the advice they give is often outdated, or not relevant to your situation. Remember this advice is FREE, and that may be all it is worth.
- You may be overheard whilst talking a in a home.
So many homes today have nanny-cams and private surveillance systems, so be careful what you say about your interest in the house whilst on the property.
- Home buying is a roller coaster ride and very stressful for everybody.
You may very well become upset with me during the process because of information that I bring you, my job is to be honest with you and represent you to the best of my ability. At times this may seem counter to what you want, but we want you to know everything about the house and the area that by law we are allowed to share with you. It is very natural when spending a large amount of money to then have potential regrets and doubts after submitting an offer. You may be nervous you are doing the right thing. Stay calm and consider all the homes you have seen and how this home weighs up against all those you have seen.
- Estimates are just that.
Whilst we provide you with closing cost estimates these are not the final numbers. Also, whilst banks say they will give you the final numbers for closing three days in advance, we have found usually it is the day of settlement when the final number you need to bring to settlement is revealed. We generally aim to give higher estimates so there are no nasty surprises
- The closing date may change due to circumstances beyond our control.
For one reason or another the closing date may change, this may be due to the mortgage, or to events outside our control such as weather or illness in one party or another. We usually aim to settle on the date specified in the contract and work very hard to make this happen, but be aware it may change.