Things NOT To Do When Buying or Selling a Home.

Buying or selling a home is a plan to do something. The surest way to have life laugh at you is to make plans. My very good friend, Chris Berg with Cardinal Financial Lending (503-320-0925, chris.berg@cardinalfinancial.com), and I came up with a tongue-in-cheek list of things NOT to do when buying or selling a home. What’s not funny is that many of these things have happened!

1. DON’T buy a car or co-sign for one
2. DON’T apply for credit
3. DON’T close any credit accounts
4. DON’T transfer money into or between accounts
5. DON’T deposit cash (we will need receipts)
6. DON’T quit your job
7. DON’T stop paying your bills on time
8. DON’T put items on layaway
9. DON’T do ‘same as cash’ financing
10. DON’T buy a major appliance
11. DON’T remove or add a person to your accounts
12. DON’T decrease your work hours
13. DON’T LIE TO YOUR LENDER
14. DON’T assume you can get away with something (we will find out… it’s our job)
15. DON’T try to go around your agent by talking with the seller directly
16. DON’T threaten your future neighbors
17. DON’T start moving in before closing
18. DON’T neglect to file your taxes
19. DON’T file for divorce or legal separation
20. DON’T change your name
21. DON’T have a garage sale and deposit the cash (see #5)
22. DON’T patrol the property you made an offer on and threaten/harass other buyers
23. DON’T switch banks or open new accounts
24. DON’T buy an airplane
25. DON’T schedule elective surgery
26. DON’T allow anyone to pull your credit
27. DON’T LIE TO YOUR REAL ESTATE AGENT
28. DON’T assume you will understand closing paperwork
29. DON’T assume the figures at approval will be the same at closing
30. DON’T pay your earnest money with CASH!
31. DON’T spend your down payment on furniture, or to go hunting
32. DON’T lose your earnest money on a bet, even if it seems like a ‘sure thing’
33. DON’T open a business
34. DON’T file bankruptcy
35. DON’T get arrested
36. DON’T try to re-negotiate terms at closing.
37. DON’T try to make repairs (or decorate/paint) before closing
38. DON’T try to bribe the appraiser (please don’t!)
39. DON’T burn, remove, or cut down trees/brush at the home you are in process of buying
40. DON’T write bad checks
41. DON’T accept a new job out of state
42. DON’T break into the home you are buying
43. DON’T do the “would you like to apply for our card to save 15%-25% off your purchase”? See #2 & #31
44. DON’T get married
45. DON’T allow renters to move into the home you are selling or buying
46. DON’T let your ID expire
47. DON’T cash out your retirement
48. DON’T decide not to move to Oregon/ Washington due to Mount St. Helens
49. DON’T hide important financial information like hidden accounts, liens, etc. (we will find out)

Questions? Ask your agent, ask your lender. Remember that we work for you. If you aren’t sure about something, ask. It is always better to be up front about any concerns or issues you have so that we can deal with them now rather than try to play catch up later! When in doubt, DON’T!

Tracie DeMars 360-903-3504
traciedemars@aol.com
www.traciedemars.com