If you’re new to home buying or a little rusty in the department, you might not think about some of the do’s and do not’s while you’re in escrow. If you’re quick to open a new credit card to save 15% off at a store, or constantly transferring money back and forth between accounts, you’ll have to think twice about that during those 30-45 days. Here are a few quick tips to keep your transaction on track:

The DO’s:

• Keep an eye out for emails with any conditions, requests, or documents that need to be signed. Everything is extremely time sensitive and normally the window of response to ensure an efficient close of escrow is 1 business day or less.

• Read all emails thoroughly to ensure you do not miss any details.
• Respond to voicemails at your earliest convenience, so any urgent requests or circumstances can be conveyed as quickly as possible.

• Once you receive your Closing Disclosure from your loan office, please send it to your real estate agent so they can ensure all credits and financial terms agreed to during the transaction are accounted for.

The DO NOT’s:

• Open or apply for ANY form of credit without advice from your loan officer first.
• Charge anything on your credit beyond the normal daily uses now.
• Close any lines of credit without advice from your loan officer first.
• Change jobs or quit your current job.
• Move money between accounts or make any large deposits (in excess of $500) without advice first.
• Close any financial accounts without advice from your loan officer first.
• Give Landlord notice without consulting your loan officer.
• Set up a date with a moving company without consulting your loan officer.

If you pay attention to these tips, it will help to ensure a smooth process for everyone!

Here is a simple chart that breaks down the steps of the loan process:

 

Please let me know if you have any questions. I also can recommend some great loan officers if you would like to get pre-qualified to look for a home. None of the service providers I recommend give me a kickback. I just know they do a great job!

Janai Bashore, REALTOR® and Transaction Coordinator  760.390.6330 janai@bentleysd.com