Before embarking on your property search, it's crucial to prepare adequately. Start by assembling a 'Green File' which includes essential financial documents such as financial statements, bank accounts, investments, credit cards, auto loans, recent pay stubs, two years of tax returns, leases for investment properties, and information on 401K, life insurance, stocks, bonds, and mutual accounts. These documents are vital for securing financing. Additionally, checking your credit rating is imperative as it influences the type of property you can purchase and its price. Engage with a lending institution to understand your financial standing. During this period, maintain financial stability by avoiding major purchases or career changes, ensuring you approach your property purchase from a position of strength.
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