Before closing on a house, you should generally avoid making any changes or missing any steps that could affect your mortgage approval or delay the purchase. Even after your offer is accepted, there are still several important details to handle before closing day.

In this post, we’ll cover five things not to do before closing on a house so you can avoid unnecessary delays and keep the purchase on track.

1. Don’t Apply for New Credit or Make Large Purchases

Once the seller accepts your offer, it’s natural to start thinking ahead. You may want to order new furniture or make a few other bigger purchases for the new place. 

Unfortunately, closing typically isn’t the best time to make any major changes to your finances.

After all, your lender approved you based on the credit and debt you had when you applied. If that changes before closing, they may need to take another look at your application, which can slow things down or create a problem you didn’t need.

It may not be the most fun option, but the safest move is to wait. That said, if something absolutely cannot wait, at least try to check with your lender before you buy it.

2. Don’t Move Large Amounts of Money Without Checking First

Let’s say a family member sends you money to help with closing costs, or you transfer part of your down payment from another account. On your end, it may feel completely straightforward. To your lender, though, it can look like money appeared without an explanation.

Lenders usually need to confirm the source of your closing funds, which means large deposits and transfers may need to be documented. That could involve bank statements, gift letters, or records showing where the money was before it moved.

The good news is that none of this means you can’t transfer money before closing. Just check what your lender will need first, and keep the paperwork. It’s a lot easier than trying to recreate the paper trail a few days before closing.

3. Don’t Change Jobs Without Speaking to Your Lender

Changing jobs while buying a house can make an already busy process more complicated. Even if the new position pays more, a probationary period, a gap between jobs, a change in hours, or a move to contract work may affect your income assessment.

Of course, it’s not like you’re expected to stay in the same job at all costs. It’s just that your mortgage application is typically based on your current employment situation. Changing it before closing can therefore lead to more paperwork or delays.

So, before officially accepting the new job, try to find out whether the timing could affect the purchase. You may be able to move forward as planned, but it’s better to know before handing in your notice.

4. Don’t Ignore Closing Requests or Deadlines

You can get surprisingly busy in the days before closing on a home. One minute you’re reviewing paperwork, and the next you’re confirming insurance, sending updated documents, or answering a question from your lawyer.

Sure, most of these requests are simple, but they’re often also time-sensitive and connected to the next step in the process. Put one off for too long, and you could end up delaying more than you expect.

That’s why it helps to stay on top of things as they come in. You don’t need a complicated system, but doing tasks as simple as checking your email regularly and keeping your documents easy to find can save you from a last-minute scramble.

5. Don’t Skip the Final Walk-Through

The final walk-through is your last chance to see the home before closing, so it’s worth taking seriously. It may not be another full inspection, but you still want to make sure the property is in the condition you expect, the seller has removed their belongings, and any agreed-upon repairs have been completed.

While you’re there, it certainly doesn’t hurt to check a few basics like the lights, plumbing, appliances, and heating or cooling. Most of the time, everything will be fine. But if something has changed or been damaged since your last visit, it’s much better to catch it before you finalize the sale.

Get Help Navigating the Final Steps Before Closing on a House

The time between an accepted offer and closing can involve more than most buyers expect. There may be lender requests, legal paperwork, deadlines, and communication with several different people, all while you’re trying to plan a move and keep everything else on track. And with so many details moving at once, it can help to have an expert by your side.

A real estate agent can help you understand what still needs to happen, stay organized, and respond quickly if any issues come up in and around closing day. If you’re planning to buy a home in Southern Georgian Bay, contact Hawkins Real Estate Group for help navigating the purchase from your initial search through closing day.