Houses & Homes: What not to do before your notary signing

The paperwork is sent, the offer is presented and the good news of an acceptance is widely spread! Yet, the deal is not completely final. Conditions have yet to be met (financing, inspection, etc.), and that is when you think the champagne can be uncorked and popped. Think again!

The waiting game starts; here and afterwards! During the conditional period and until the notary date lies a crucial period where other major decisions may need to take their place on the top shelf for now. Why? Because some changes are vital and can delay or prevent the sale/purchase of the property and many of you are not aware of the implications.

Simply put, here are the DO NOT DOs:

- Change Jobs: a job change can result in a different loan agreement

- Large Purchases: your credit score can change or your reserve fund may start to diminish which can make a lender look at your financial capacity much differently

- Switch Banks: funds should evidently continue to remain in your same account, as to not cause any delays or an insufficient funds mishap

- Change your marital status: this may change a few factors, especially if both of you have signed for the home

For you first time home buyers’ who want more in-depth information, speak to a realtor and/or your mortgage representative. I am here should you have any further questions!

A West Island realtor and resident with a background in marketing and event planning, Jessica’s skills and experience have led her to be an expert in many aspects of the real estate field and earning her an extensive network of both young professionals and seasoned executives. Her talent as a home-stager completes the list of necessities sought after by the most discerning clients! Contact her today for a free marketing evaluation of your home or for more information on the buying process! Contact her by phone 514.465.4197 or email jdire@sothebysrealty.ca, or visit jessicadire.com.

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