Buzz
Anyone who's been through the home-buying journey will tell you: it's a lengthy, unpredictable process. What might seem like a sure thing, even while in escrow, can fall through, forcing you to start house hunting all over again. For the sake of your finances and loan, refrain from making any moving plans until all closing paperwork is officially signed.
It may seem obvious, but with so many ‘this is it’ moments throughout the homebuying process, it’s easy to jump ahead. Credit.com points out:
Bringing in a moving company before your final loan documents are signed is a risky move, and it can backfire. If the company shows up on moving day and your house hasn’t closed, things can get messy. Only schedule movers once the final loan documents are signed. This also applies to buying furniture, particularly if you're using credit or cash from your account — wait for the house to close, then go shopping. The short-term rewards are not worth jeopardizing the deal.
Even opening a new credit card can complicate things. I applied for a travel rewards card after I got the final loan documents, and the mortgage company called and emailed nonstop asking why I did that—despite not having received the card yet. While it's fine to plan the move and figure out logistics, large purchases should be delayed until everything is official. Otherwise, you might disrupt the mortgage process. For more details, check out Credit.com’s full post linked below.
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