Buyers Beware - Caution Don't do ANY of these 4 things before buying new home.

Real Estate Agent with Mountain House Real Estate

I posted this for a lot of my clients in Tracy.  This applies to every buyer everywhere.

Bottom line - do not buy anything large, financed, until you check with your lender.

You'd hate to not be able to purchase a house because you bought a car.

Original content by Susan Goulding 01490605

quick email to first time home buyers -- Frequently asked question.  Can I do any of these 4 things.... keep reading 

Tracy CA Buyers Beware!  

ASK FIRST Buyer Beware on Loan
 Don't do ANY of these 4 things before buying new home.

1)  Don't pay off bills.   You loan officer may need you to pay off some bills in order to qualify for your loan.  However, you may NOT need to pay these off, and may need the cash instead.  ASK FIRST

2) Don't change jobs.   Changing your job in the middle of the loan process can create major problems for your loan officer.  If a job change is necessary make sure to talk to you lender and explain when the change will take place, where you are going, who to contact, etc.  Sometimes changing in the same field is not nearly as severe as changing to a completely different line of work.  ASK FIRST - COMMUNICATE

3) Don't move your money.  I know it seems like moving money from one account to another might be a good thing.  Resist temptation, don't do it until your loan has funded.  If you need to move money talk to you lender.  ASK FIRST - 

4) Don't make major purchases.  This is especially crucial if you are financing something big.  You just can't go buy a new car, or the washer, dryer, and refrigerator even if is 12 months no interest same as cash UNTIL AFTER you have the keys to your new home.  If you have the keys, your loan has closed.... at that point you can go buy whatever you want.  Just remember you'll have a mortgage to pay in 30 days.  ASK FIRST - BUY LATER

As you can see ASK FIRST is mentioned in all 4 CAUTIONS.  WHY?  Because it is vitally important to communicate not only with your REALTOR but also your LOAN OFFICER.  This is your team of professionals that has experience navigating the home buying waters.  Communicate good and bad, always let your team KNOW what is going on.

This is one of the largest and most exciting purchases EVER, be confident in your decisions, rely on your team and you'll be getting keys to your new time in no time.

Maureen Torretto and Amy Costa from iMortgage stopped by the Crown Key Realty office today to give us these tips.



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About the Author...This article  was provided by Susan Goulding, a Nationally recognized Realtor and Certified Short Sale & REO Specialist.  Susan can be reached via e-mail at by cell phone or text message at 209-914-5573. Susan has helped hundreds of people buy and sell their home.  For Northern California real estate and homes see   If you need to Short Sale your Tracy or Mountain House, Northern California home please contact me for more information or visit

Specializing in the following Northern California Communities: Tracy, Mountain House, Livermore, Brentwood, Oakley, Pleasanton, Danville, Patterson, Lathrop, Manteca and Ripon.  Keller Williams|Tracy|Mountain HouseTracy, CA |Homes for Sale Tracy CA |Short Sale Tracy CA |Foreclosure Tracy CA |Tracy Real Estate | Mountain House Real Estate | NorCal Real Estate

Comments (9)

Jon Quist
Tucson's BUYERS ONLY Realtor since 1996

All good and valid points.

Talk to your lender. Ask questions, big time.

Jan 07, 2011 05:07 PM
Kristi DeFazio
RE/MAX Advantage - Colorado Springs, CO
Colorado Springs Rea lEstate 719-459-5468

Don't do anything that changes your financial situation until you talke with your lender. Good points!

Jan 07, 2011 05:13 PM
Karen Anne Stone
New Home Hunters of Fort Worth and Tarrant County - Fort Worth, TX
Fort Worth Real Estate

Tracy:  I know all of these pertain to mortgage financing... but one more thing buyers should NOT do if they want to buy new construction from a builder... is to go IN to the builder sales office without their Realtor.  Not a good plan, and boy can it lead to some problems IF the buyer wants to be represented by their Realtor.

Jan 07, 2011 05:14 PM
Susan Goulding
Mountain House Real Estate - Mountain House, CA
Short Sales, Mountain House Homes for Sale

Jon - ask questions  always ASK

Kristi - exactly and if you are going to make changes ASK first

Karen - you are exactly right.  GO WITH YOUR AGENT to new construction

Jan 07, 2011 05:24 PM
Randy Ostrander
Lake and Lodge Realty LLC - Big Rapids, MI
Real Estate Broker, Serving Big Rapids and West Central MI

Good call Susan. Something as little as funds being "seasoned" can make or break a deal. BEst to ask FIRST.

Jan 07, 2011 05:39 PM
John McCarthy
North Hampton, NH
Realtor - Seacoast NH


Sound advice indeed. Another thing I warn buyers the checkout in the large retailers, when the cashier offers another 10% off if you sign up for a store credit card. You don't even see it coming.

Jan 07, 2011 09:51 PM
Dan Edward Phillips
Dan Edward Phillips, Humboldt and Del Norte Counties, CA - Eureka, CA
Humboldt and Del Norte Counties, CA

Good Morning Susan, excellent input for the home buyer in todays market.

Jan 07, 2011 10:28 PM
Lottie Kendall
Compass - San Francisco, CA
Helping make your real estate dreams a reality

Great warning for buyers, Susan. I've been trying to get the word out, too.

Jan 08, 2011 04:36 PM
Susan Goulding
Mountain House Real Estate - Mountain House, CA
Short Sales, Mountain House Homes for Sale

Randy - good reminder - seasoned funds

John - oh yes those credit same as cash -- yikes it still shows up on your credit

Dan - thanks

Lottie - it's important I can't imagine having an excited buyer not get their house because I didn't warn them.

Jan 10, 2011 04:14 PM