It’s important to know a few things about being in escrow. Here are some do’s and don’ts to make the process smoother.
Being in escrow is exciting, whether you are buying a new home or selling your old one in order to upgrade. However, it is important to know some keys things while going through this process. Here are a few do’s and dont’s while in escrow.
Don’t apply for any other credit. While in escrow, you really don’t want your credit to be run for any reason.
Don’t max out credit cards or consolidate debt. Any out of the ordinary patterns of credit usage might raise a red flag.
Don’t do anything that might reduce your credit score. Reducing your credit score while in escrow can cause problems with the sale.
Do join a credit watch program. This is smart whether you are buying or selling.
Do keep credit transactions normal. Being in escrow doesn’t mean you should switch your normal credit usage.
Do communicate with your lender once a week and make sure you let them know if anything odd with your credit comes up.
For more tips and information on how to make your time in escrow go smoothly, give me a call or shoot me an email.