DO-pay down credit balances
Reducing your debt level is never a bad idea.
DO-use an experienced Realtor; or lawyer in the event of a private sale
You consult a doctor about your health, you consult a mechanic about your car, you should consult a real estate professional about your home purchase.
DO-put a financing condition on the Offer to Purchase
A pre-approval is an approval based on you the borrower and your current financial profile. The lender and insurance company (if applicable) still need to approve the property, specifically the value and condition of it.
DO-start saving up your closing costs
The lender will want to confirm you have cash on hand to cover your closing costs like lawyer fees, property tax adjustments, title insurance etc.
DO-talk to your mortgage professional before making any changes to your financial profile.
We need to know in the event it may change your pre-approval status.
DO-know your payout penalties
Ensure you are aware of the costs involved if you break your term early.
DO- start getting your supporting documents together
This will make the process go faster when you find a property.
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