So here is how the story goes...and it's true!
I'm working with a couple, and we spent several months looking for the perfect lake home for them. We finally found it, negotiated with the seller and got an accepted contract. Now what?
We made it through the home inspection and termite inspection and were good to go.....or so we thought! Now these buyers were pre-qualified, both had good credit, good job history and were actually getting ready to retire. What could happen?
My buyer calls me 5 days before the closing and tells me she thinks she messed everything up, and she is frantic! It seems that her grandaughter's birthday was coming up, so she had gone shopping at a children's clothing store. While checking out, the sales associate asked her if she had a store credit card, to which my buyer replied, 'No'.
The sales associate then shared that if she opened up a store credit card, she could save 20% off of her purchase AND the associate just so happen to have a coupon for an extra 20% on top of that. Well of course my buyer jumped right on that.....who wouldn't? That's quite a savings!
Not a good idea! The buyer's lender pulled their credit again before closing and yes, you guessed it....RED FLAG!!! It took many phone calls and lots of explaining to get it all straightened out as to what had happened. Luckily, we did get it worked out and were able to close the deal....whew!
The moral of the story is, when you're in the process of buying a home, DO NOT open new credit lines--no matter what they're offering in incentives!!!
Call, text or email Shannon Copeland for all of your real estate needs!