Top Mistakes To Avoid Before Buying A House On The North Shore Of Long Island

By
Real Estate Agent with Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803
Are you ready to purchase a house on Long Island's North Shore?Long Island Real Estate
 
Before you sign on the dotted line, here are some mistakes to avoid during the home buying process.
 
Mistake #1. Don't Make Purchases For Big Ticket Items ~ It will increase your debt-to-income ratio and typically the more debt you have the less you will qualify for on a mortgage.
 
Mistake #2.  Don't Forget To Check Your Credit Report ~ You should check your credit  report as the cleaner it is, the faster you will be approved for a loan so do check it out before starting your search.
 
Mistake #3.  Don't Lie On Loan Application Forms ~ It's fraud and won't help your chances of obtaining a loan.
  
Mistake #4.  Don’t Change Banks During The Process ~ Lenders will probably review your bank account history and moving your funds may cause issues as you want your banking history to show stability.
 
Mistake #5.  Don't Co-sign A Loan For Anyone Now ~ It's not your payments, but the credit companies will take this into account and what if the owner defaults and you are responsible for these funds.
 
Mistake #6.  Don't Change Jobs At This Time ~  A solid employment history is very important as lenders look at your previous and current earnings to analyze your ability to make the payments.
 
Mistake #7.  Don't Think You Have To Find The Perfect House ~ Unfortunately you may not find your dream house with everything you may want so be a little flexible with your criteria.
 
Mistake #8. Don't Spend All Your Funds On The House ~ Spending all your money on the house is not a wise decision as you may need funds for emergencies and the unexpected. 
 
Mistake #9.  Don't Forget About Closing Costs ~ You have to remember that there will be closing costs involved in the purchase so have these amounts in mind when making a purchase.
 
Mistake #10. Don't Look For A House First And Then Figure The Financing Costs Later ~ Make sure you speak with your bank or mortgage specialist before you start looking at properties.
 
Mistake #11. Don't Dismiss A House Because You Think There Is Something Else Out There That's Better ~ Yes there are many houses on the market, but that is going to change and we are seeing lower inventories. That house that you may think will be better, may never appear.
 
Mistake #12. Don't Forget To Work With A Realtor ~ Seeking guidance from a Realtor who is experienced throughout the process can only benefit to you and will make the transaction go much smoother!
 
By knowing these Top Mistakes To Avoid When Buying Your North Shore Of Long Island House, you'll be able to effectively address today's real estate market and the purchase of your house!
 
And if you are looking to buy a home on The North Shore Of Long Island, don't forget to call Larry & Sheila, Realtors at 631-805-4400!
 
 
If your home is listed with another broker, this is not a solicitation of the property.
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Are you ready to trust this professional Husband And Wife Team who are committed to you the Client? Call Lawrence "Larry" and Sheila at 631-805-4400 (c) and start your real estate investment on Long Island with two REALTORS® you can trust.

 

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Re-Bloggged 2 times:

Re-Blogged By Re-Blogged At
  1. Dylan Taft 08/03/2012 06:34 AM
  2. John McCormack 08/05/2012 05:37 PM
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Topic:
Real Estate Best Practices
Location:
New York
Groups:
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Tags:
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Comments 22 New Comment

Rainmaker
1,319,495
Rebecca Gaujot, Realtor®
Lewisburg WV Real Estate, Greenbrier County
Coldwell Banker Stuart & Watts Real Estate

Hi Larry & Sheila, excellent information...I am bookmarking to keep this list handy for family/friends/buyers

August 03, 2012 02:13 PM
Rainmaker
646,881
Eileen Hsu
LICENSED REAL ESTATE SALESPERSON
Douglas Elliman Real Estate

LOVE THIS LIST. Yes, yes, and yes Sheila and Larry. "don't think there is something better out there" sometimes is a tough mistake for buyers to learn!

August 03, 2012 02:59 PM
Rainmaker
634,085
Evelyn Kennedy
Alameda, Real Estate, Alameda, CA
Gallagher & Lindsey, Alameda, California

Larry and Sheila:

All good items on your list, but you forgot to mentioned that buyers looking for homes in the North shore of  Long Island need to call Larry and Sheila.

August 03, 2012 09:34 PM
Rainmaker
520,068
David Burrows
No Pressure, Just Seriously Devoted to Real Estate
Classic Realty

Larry and Sheila: Anyone looking for a home in your area, specifically Long Island should really give you a call. You are right on with all of your items today. Thanks for a great post.

August 04, 2012 04:04 AM
Ambassador
872,143
Larry Bettag
Regional Vice-President
Larry Bettag - Cherry Creek Mortgage

Great post....too bad that I couldn't see this til now because I'd suggest this.  Don't buy big ticket items....mortal sin #101!!!

August 05, 2012 06:01 PM
Rainmaker
1,370,307

Lawrence "Larry" & Sheila Agranoff. Call 631-805-4400 (c)

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Additional Information

Welcome to our world of Real Estate! We are Long Island's Premiere Realtor's representing all of Long Island New York, including Residential Homes, 55 and Over Communities, Condo/Townhouse, Luxury Long Island Properties and Corporate Relocation Specialists! Interested in selling your Long Island Home or Condo? Contact Larry and Sheila to get a professional estimate at 631-805-4400.