1. Be prepared. You know you are going to have to supply a box full of documents to your lender. When the thought that you might buy first hits you, start organizing and saving any paperwork anyone could possibly ask for. (I can give you a heads up. Just e-mail me at george.margrave@migonline.com or call 615-777-4663.
2. Plan ahead so that a day or two delay won’t have you paying furniture storage fees and/or living on the street. There are all kinds of things that can cause delays.
3. Pre-approve the other parties at the bargaining table. Is the seller upside down? Does he have the money to close? Does a bank have to approve the short sale? Are there title problems? Will the property meet the guidelines of the lender? And on and on.
Just don’t get caught here.
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