Making sure your credit report is accurate has never been so important.  Home Buyers today need to start way in advance of looking at homes to make sure that they can qualify for a home. 

I learned a lesson the hard way and would like to share it with other agents so they will not make the same mistake that I did.  I listed someone's house that I had sold to them years before and they were ready to do a move up. 

I had them do a lot of updating, decluttering and obtain a storage unit to make the house more saleable and it was!  We received a offer and were just about ready to sign the contract when the seller called me and told me he could not sell because he did not qualify at this time for the new loan on the move up house. 

What a blow to the sellers, the prospective buyers, the buyers agent who had to start over again and me, who had spent a good deal of time and money listing the home.  Now when I go to list a home that someone has not already moved out of, I educate them on the importance of getting pre-approved before we actually list so they will not have to suffer the disappointment my seller clients did.

I recently heard that the required credit score was going to go up to 700 for a buyer to obtain a construction loan.  Any one else out there hearing the same thing?