So by now you’ve probably noticed that The Real Estate Warrior does business a lot differently than most people. The most important part of any transaction is to make sure everyone understands what’s going on to begin with. The first step to knowing what’s going on is to understand the flow of a Real Estate transaction.
THE TRANSACTION PROCESS
The 10 Commandments
- Thou shalt not change jobs, become self-employed or quit your job.
- Thou shalt not buy a car, truck or van (or you may be living in it!).
- Thou shalt not use credit cards excessively or let current accounts fall behind.
- Thou shalt not spend money you have set aside for closing.
- Thou shalt not omit debts or liabilities from your loan application.
- Thou shalt not buy furniture on credit.
- Thou shalt not originate any inquiries into your credit.
- Thou shalt not make large deposits without checking with your loan officer.
- Thou shalt not change bank accounts.
- Thou shalt not co-sign a loan for anyone.
Follow these at all costs! It will ensure a smooth transaction, and prevent anything from ruining your buying power.