Contemplating purchasing your home in Colorado Springs? Brian L. A. Wess can help.
Buying a home is stressful for many people. However, with a little up-front planning, it isn't too complicated.
I like to provide buyers with an outline of the whole deal so they'll understand exactly what to expect.
Here are my nine steps to buying a home.
When you're ready to get started, just contact me here or e-mail me at . I'm happy to answer any questions you have about this information.
Step 1 – Get ready to purchase a home
There are a lot of things you'll want to do prior to commencing your home search.
You'll most likely want to make a list of items you need to have, plan for what neighborhoods you want to live in, and start planning around your budget.
Keeping your mortgage payment less than or close to 30 percent of your net monthly income is a good guideline to go by.
Step 2 – Communicate with a real estate agent
This is where I can help.
I'd love to plan a time to get together with you and communicate with you regarding why you want to buy a home and get an idea of your plans for the future.
We'll talk about the mortgage and housing industries, other economic factors that may potentially affect your buying decision today or in the future, as well as neighborhoods and schools in the Colorado Springs area.
I'll also help you facilitate the loan process.
Brian L. A. Wess partners with some of Colorado Springs's best mortgage professionals, so you'll be in great hands.
They will assist you with deciding which type of loan is best for you and help you get approved.
Step 3 – Begin looking
After our initial meeting, I'll begin searching for available houses on the market that suit your needs.
I'll research many of the houses and exclude the bad ones, and then we'll schedule appointments to tour the houses when it's convenient for you.
When we tour houses, I'll identify good features, as well as bad ones. I'll also ask you to tell us about things you like and dislike.
It's widely common for buyers to update their list of must-haves as we tour houses and some features become more crucial than others.
If that happens, I'll look through the listings one more time and narrow it down to the house of your dreams.
Step 4 – Comprehend the housing market
My awareness of the Colorado Springs market is a fundamental element in your home search. I'm conscious of all the school districts and neighborhoods, and I'll communicate certain areas are "hot" and demand immediate action and the ones that are "cool" and allow for cautiousness.
As we view homes, I'll make sure to communicate if the seller's list price has room for bargaining or if I believe the home is "priced to sell."
When working with an agent, trust your instincts and make sure you ask a lot of questions, as every REALTOR will claim to comprehend the housing market.
If things don't add up, call me at (719) 528-6672 or e-mail me at , and I'd be happy to answer your questions. My market knowledge will keep you a step ahead throughout the entire process.
Step 5 – Find the home you've been waiting for
I know we'll find your dream house in Colorado Springs. When that happens, I'll precisely develop your real estate purchase offer. The offer will be tailored to suit your needs and the home, including several contingencies, such as getting financing, completing the inspection, and a clean title.
When presenting your offer, you'll need to submit "earnest money." This is a cash deposit given to the seller to secure the offer to purchase the property. The amount is usually put towards the closing costs. If the offer is accepted by the seller, we should close on the home about 30 to 60 days after. This allows necessary time for your mortgage financing.
Step 6 – Negotiate
Most deals don't close on the beginning offer – it's really common to receive a counter offer. Don't let it alarm you. We'll talk over whether or not to accept the counter offer, submit our own counter offer, or decline the seller's offer and go on.
How aggressively we negotiate the deal depends on the state of the market.
We'll also work within your budget. And at the end of the day, we'll assemble a contract that is best for you.
Step 7 – Obtain your loan
Once we sign the final sales contract, you'll begin working with your mortgage lender to close the loan.
It shouldn't take long at all if you're already pre-qualified, but you'll need to keep in close contact with your lender.
And I'll take care of all the property information your lender needs to close the loan.
Step 8 – Close the deal
Your lender will supply you with a Loan Estimate (LE) of closing costs within three days of receiving your loan application. You'll get a Loan Estimate (LE) of closing costs from your mortgage lender within three days of accepting your application.
This estimate is formed from the loan amount, and RESPA requirements order that it has to contain all closing costs and be within a tight range of accuracy. I'll go over the estimate and let you know if it all looks permissible.
Then it's time to close on your home. This will likely happen at a title company or escrow office and will likely be a smooth and comfortable affair.
Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you need anything or have any questions, simply call me at (719) 528-6672 or e-mail me at .