As a Realtor, you are likely in contact with window shopping buyers months in advance before they actually speak to a loan officer and get pre-approved. Even though you may not be showing homes to your buyers until they speak with a loan officer and are pre-qualified, there are 3 very helpful pieces of advice you can give your buyers early in the process. This advice could save you and your buyers headaches and heartaches.
3 important warnings to your buyers:
- Don’t quit their jobs even if they have new job offers. They need to speak to their loan officer to make sure everything is in place and the timing is perfect for the job change and successful close of escrow.
- Try not to apply for any new credit within 90 days of writing an offer. This will save them the trouble of explaining inquiries on their credit report.
- Do not to move or shift around money from one account or another within 60 days of writing an offer. Buyers should keep their money where it is at. Their loan officer will be able to advise the simplest way to consolidate their funds. This will save them the trouble of explaining and documenting unnecessary movements of money from one account to another.
These 3 simple pieces of advice early on in the process can really help the transaction run its course smoothly.