It’s always exciting when a buyer and seller strike a deal. The buyers, after lots of looking and maybe several offers on different properties, have found the property that will house their family for years to come. Everybody’s happy. Plans are made for the closing date, and maybe a little celebration is in order.
Here’s some advice to be sure you stay on track and don’t create your own snag. Do take the family out for a nice meal. Don’t head for the furniture stores and appliance stores and place a large order in anticipation of the move. I know of buyers who’ve done this and not told their agent. A couple of days before the closing date, the lender will run an updated credit check on the buyers to be sure they are still credit-worthy. Guess what? If you put a lot of household stuff on your credit accounts or even drop a good chunk of cash on these things, the lender just may say that the good income-to-debt ratios that got you the loan approval in the first place are no longer looking so good. The lender may pull up short and say no to the closing.
The best thing to do after going under contract on a property purchase is to maintain a very stable financial picture. Anything otherwise may rock your boat to the point of sinking it.
![Po - [Explored]](http://static.flickr.com/7225/7260527994_23e4e5f04b_t.jpg "Po - [Explored]")
