The time between a signed real estate contract and a closing is an exciting, yet critical time as certain mistakes or mishaps that you may not even realize at the time can end up delaying the closing.
So, what are some things YOU SHOULDN’T do between the time of a signed contract and a real estate closing? Here are a few examples:
Leave Your Credit Report Alone
A harmless inquiry can end up delaying your closing and if you have problems with it wait until the closing is complete.
Don’t Try To Establish New Credit
Whether that be opening a new credit card to be able to furnish the home once you move in or getting a car loan to put a new set of wheels in your new garage, don’t do it. Wait until your home transaction is completed before accepting new credit.
Keep Your Current Credit Accounts Active
Just like with not trying to open new credit, you also don’t want to close and/or cancel current credit cards as well. In addition, you do not want to dispute any charges on your credit card.
Even though you may not think that one thing has to do with the other there is a correlation and even the slightest changes to your credit report and history can have a big effect on closing on a new home and increase the potential of it getting delayed.
To learn more about what you should and shouldn’t during the time between a signed contract and closing day speak with your realtor or a representative at Alliant Title and Escrow can help. Call 561-912-0922.