Do's and Dont's Before Closing Day on your Home!

hey everyone welcome back to another episode of heart and tear home I am Nicki Luthor if this is your first time here thank you so much for joining me please subscribe I have all sorts of videos across the spectrum from real estate to Florida life to home decor to lots of things planned in 2020 and I would love to have you stay in support this wonderful channel made for everyone so I just want to hop into this video I figured that it would be fun to do an old-school Nicki Luthor car video because that's how this channel pretty much got started four-and-a-half years ago so let's go ahead and get into it I wanted to do a video on the do's and the don'ts before closing day so let's just say that you are already under contract for a house your offer has already been accepted and now you have that waiting period of 30 to 45 days which a lot of first-time home buyers think are complete terror but I am here to make that feel a little bit less stressful for you and give you some quick do's and don'ts before closing day so let's get started on should we do the do's first or should we do the don'ts first I guess we could get the bad out of the way let's do that so let's do the don'ts before closing day the things that you do not want to do don't even think about doing just don't do it here we go the first one is do you not finance anything I know you're getting a brand-new house I know you're super excited you need a barbecue girl you need a couch you need some new appliances do not open any credit cards from loans from Home Depot four am Ashley Furniture don't open any credit at all you're going to have to wait until after closing to purchase any large items during this time that you are under contract for a home the bank is watching you they're watching you to make sure that you are a good person to lend the money to and to close the loan so please do not open any credit cards this could even be don't open a credit card for jewelry if something comes up and you want to propose you know don't open an engagement credit card anything like that listen I've had all of these things happen so that is why I'm here to give you the knowledge and you can talk to any mortgage lender out there and they will tell you the same exact things so another thing is do not switch positions at work do even if it's the same pay do not do anything with your employment stay the same as your loan application do not switch jobs do not take a job with lower pay do not get fired please that could ruin your home purchase a couple use for closing believe it or not the bank is gonna call and verify employment because you kind of need a job to pay back the loan please don't do anything that is job-related another thing is do not co-sign with anyone if your sister comes along and says hey it's my 17th birthday and you're the best brother ever can you please cosign with me to get a car I really need it do not do it don't do it until after you buy the home your sister can wait you don't want to do anything that has to do with banking at all you do not want to go to Walmart and buy $1000 even if it's cash you do not want to go to Walmart and buy $1000 television for your new house everything has to wait until closing until you get those keys you walk out that title company and the house is yours another thing which is gonna sound a little kooky is do not pay off huge balances of your credit card unless your mortgage broker specifically tells you to do not make any of those decisions on your own if you you know if your mortgage lender tells you while we're closing I need you to pay off this card they know what they're doing but if you just take it upon yourself that could lower your credit score and then you can in the end not be able to get the loan I know it sounds confusing but trust me on this one another thing is say you call up you know Aunt Susan in Michigan and she says oh my gosh you're buying a house I want to send you five thousand dollars you know as a wonderful closing gift I'm gonna send it to you right now okay and she transfers five thousand dollars into your checking account do not do it do not accept any gift money without talking to your mortgage lender first there's a form for that the bank wants to know where that money came from why it came from there trust me on this I know I keep saying that these are all things that buyers have been burned by so do not do that let's see let me check my notes see if I am forgetting anything oh do not drive by the house and talk to your seller by yourself without your agent you are being represented by a buyer's agent they are being represented by a seller's agent you do not want to do any negotiating or chatting or anything without your agent present because that could hurt you in the end they could promise you something and you could say he said she said and it could just start a huge issue that we do not want to get into let's go into the dues while waiting to close on your house do keep saving it is always good to have a little extra money in the bank especially to the lender it's gonna look good if you have some extra money in savings at closing you do want to get your paperwork to your lender quickly this is going to be very important for you for you to close on time you have to provide a lot of paperwork as the buyer and you want to make sure that you have that checklist from your lender and you get everything to them as soon as possible also be accessible to your agent for signatures there may be documents that pop up that the bank needs you to sign right away that the seller needs you to sign you need to be accessible for your Realtor and your lender as quick as possible so that there are no hiccups at all get a home inspection while you are waiting for your home to close this is a perfect time for you to check out the home learn more about the home make sure that you know what you are getting into and that you are happy with it and happy with the condition of the property you also can take this time to make moving arrangements let your landlord know that hey in 30 days we're not gonna be renting here anymore because we're buying you so that is very exciting news you want to let them know you don't want to you know if you have to break the lease or if you have any problems with where you're living you need to make those arrangements ahead of time and not at the last minute when you know that hey I am gonna be homeless you don't want to do that so that is all that I have for you today on do's and don'ts before closing if I missed something and you have already been through this process and you want to share some thoughts or comments with me you can always comment below follow me on Instagram where the party is I love to post things they're not salesy at all just love to share my life with you you know my business and I just love to make new friends so make sure if you do follow me on Instagram that you let me know so that I can follow you back and if you guys have any questions you can always email me at and Luther at palm coast realestate.com I am so happy that you watch this video I'm so happy that someone suggested this video because that makes it a lot easier for me to know what you guys want to see so give it a thumbs up if you liked it and I hope that you have a wonderful day

Channel: Niki Luther

Views: 13,276

Rating: 4.8575344 out of 5

Keywords: Real Estate, Palm Coast Fl, Realtor, Real Estate Agent, Florida Realtor, Niki Luther, Adventures in Florida, closing on a home, closing day, first time homebuyers, what not to do when buying a home, home buying mistakes, closing table, closing on a house

Id: xkorZawnvPM

Length: 8min 5sec (485 seconds)

Published: Wed Jan 22 2020