9 Common Costly Buyer Traps to Avoid  part 2

6. Not getting Mortgage Pre-approval - Pre-Approval is fast, easy and free. When you have a pre-approved mortgage, you can shop for your home with a greater sense of freedom and security, knowing that the money will be there when you find the home of your dreams.

7. Contract Misses - If a seller fails to comply with the letter of the contract by neglecting to attend to some repair issues or changing the spirit of the agreement in some way, this could delay the final closing and settlement. Agree ahead of time on a dollar amount for an escrow fund to cover items that the seller fails to follow through on. Prepare a list of agreed issues, walk through them, and check them off one by one.

8. Hidden costs - Make sure you identify and uncover all costs - large and small far enough ahead of time. When a transaction closes, you will sometimes find fees for this or that sneaking through after the "sub" total fees such as loan disbursement, underwriting fees etc. Understand these in advance by having your lender project total charges for you in writing.

9. Rushing the Closing - Take your time during this critical part of the process, and insist on seeing all paperwork the day before you sign. Make sure this documentation perfectly reflects your understanding of the transaction, and that nothing has been added or subtracted. Is the interest rate right? Is everything covered? If you rush this process on the day of closing, you may run into a last minute snag that you can't fix without compromising the terms of the deal, the financing or even the sale itself.

Working with a professional and knowledgeable lender can help you avoid these pitfalls. I look forward to earning your business and being a resource for you.

For More Information visit our Home Loans Spokane Page at www.TeamQuintana.com