We’re going to review some of the common mistakes that first-time buyers make, and we’re going to show you how they can ruin your opportunity to buy your first home. How to avoid those types of blunders? You'll find out in our HousePro Academy online course, Home Buying 101.
MISTAKE #1: NOT KNOWING WHAT'S ON YOUR CREDIT REPORT
The first mistake is not checking their credit in advance. Some home buyers are not aware of what’s on their credit report. When their mortgage lender pulls up the buyer’s credit report, they are both surprised when an unexpected collection account pops up for an old phone bill 5 years ago. Unfortunately items like these can ruin your opportunity for a new home. So don’t be surprised in front of your lender; instead, be pro-active and check your own credit ahead of time. If negative erroneous items pop up, be sure to get them removed or corrected right away. You can an accurate and positive credit report when your lender pulls it up. Today’s course will show you how to check and correct your credit.
Here's other common mistakes that you DON'T want to make:
- Mistake #2: Mis-calculating budget / housing costs
- Mistake #3: Failing to get a home inspection
- Mistake #4: Neglecting to do “due diligence”
- Mistake #5: Buying a car or furniture loan before COE
- Mistake #6: Not understanding the process
- Mistake #7: Trying too hard to get a bargain
Stay tuned for our 7-part series!
Regina P. Brown
Broker / Trainer
California Coast & Country Homes, Inc.
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