Putting a house on the market is a big decision, financial and otherwise. It’s hard enough to understand the topsy-turvy world of real estate; the delineation between a buyer’s market and a seller’s market, the many fees associated with working with a real estate agent, and the other many considerations that must be made to ensure that you come out of the deal in one financial piece and are ultimately able to move onto your next home.

One of the things that sellers should always make an effort to do prior to making the decision to put their property on the market is to check their credit report. There could be nothing worse than getting well into the process of selling a home, finding the next home and realizing that your credit report will preclude you from getting a mortgage that makes sense.

Luckily it’s easier than ever to check our credit report through the availability of free credit reports. The three main credit bureaus that collect our financial information and to which prospective lenders turn when they are making a decision about extending credit are Experian, Equifax, and TransUnion. Each of these will issue a free credit report to each consumer once a year. As consumers, it is our job to ensure that we ask for those free credit reports so that we can know at a glance the status of our credit report.

Having the information provided by free credit reports gives us the power of knowing ahead of time whether or not the mortgage process is likely to be fraught with obstacles. With this knowledge in hand we can do what needs to be done to either improve our current credit standing or continue on with the decision to sell our home, knowing that we are on solid financial ground.

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