The 10 Commandments For Buyers Between Now and Closing

Real Estate Agent with Ebby Halliday Realtors 0695644

Imagine this:  

You have a well qualified buyer.  The loan process (and entire transaction) seems to be going so smooth. These buyers have all of their financial ducks in a row, have worked hard over the years to maintain great credit, they have all their information together, and provide any necessary documention right away. Wow-dream buyers!  

You meet with them as closing approaches and they pull up in their brand new car!


What went wrong here?  Unfortunately, this happens all too often:  The buyers simply were not informed:  NOOOO!

It's important to remember and inform the buyers that the lender will recheck their credit just prior to the settlement date (along with some other details, including employment) to make sure nothing has changed.  

Today, I received what is quite possibly the most useful handout from an AWESOME local loan officer, Kheang Eung with Home Team Mortgage in Allen, Texas.  


10 Commandments for Buyers Between Now and Closing 

  1. Thou shalt not change jobs, become self-employed, or quit your job
  2. Thou shalt not buy a car, truck, or van (you may be living in it)
  3. Thou shalt not use charge cards excessively or let your accounts fall behind
  4. Thou shalt not spend money you set aside for closing
  5. Thou shalt not omit debts or liabilities from your loan application
  6. Thou shalt not buy furniture
  7. Thou shalt not originate any inquiries into your credit
  8. Thou shalt not make large loan deposits without first checking with your       loan officer
  9. Thou shalt not change bank accounts
  10. Thou shalt not cosign a loan for anyone 


I hope this helps someone to ensure their clients receive the information they need to know prior to their loan process.   I felt this was a nice, simple, and thorough way to help us to educate our clients.



Posted by

Anthea Adair, REALTOR  | 214-842-1634   | all area properties

Ebby Halliday Realtors

955 TX-121 Suite 130

Allen, TX 75013


Note: Texas Law requires all real estate licensees give the following

Texas Real Estate Commission Information About Brokerage Services


Comments (4)

Christine Kankowski North SD and Temecula
House Match Inc - Poway, CA
Excellent Sales and Property Management

Yes fully agree.

I did have the client who bought the car in his name, but it was for his wife, so he thought that would be ok.  Nope.

Jan 26, 2018 03:10 PM
Anthea Adair

Oh no!  It definitely happens...even if they're informed.  I was excited to get this list, since it spelled things out so clearly (but great point about the purchase 'for someone else') -eek.

Jan 26, 2018 03:22 PM
Sybil Campbell
Fernandina Beach, FL
Referral Agent Amelia Island Florida

These are all very good points that so many home buyers don't think about, but a good loan officer lets them know.

Jan 26, 2018 06:14 PM
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Anthea Adair those are very good tips for buyers between now and closing.

Jan 26, 2018 06:50 PM
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

haha.  I was once at the mall when I saw a buyer client and his girlfriend at the diamond counter at Kay Jeweler's.  I sesriously ran into the store and said... NO. NO. NO.  you may not buy anything in here until after you close, get out of this store.  

I'm pretty sure the sales lady wanted to kill me, but they love their house.

Feb 05, 2018 09:11 PM