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When you’re working with homebuyers, especially first-time homebuyers, you should be aware of very common mistakes buyers make. You’ll serve your clients optimally if you give them advice about pitfalls to avoid. Plus, it’ll make your life much easier and save you a few headaches.
Here are seven mistakes you shouldn’t let your buyers make.
Not finding out their credit score
The best house-hunting intentions will all come to a halt if the buyers do not have a credit score sufficient enough to obtain a mortgage. Most lenders will not approve a mortgage if an applicant has a credit score below the good to excellent range.
It’s a good idea for would-be buyers to get their credit reports about a year in advance of house hunting. Credit reports can be wrong, depending on the source the buyers choose, and it might take time for them to correct their scores.
Not getting pre-approved for a mortgage
Prospective homebuyers should get pre-approved for a mortgage before they start t…
Article image credited to Photo by Ivan Vranić on Unsplash