Buying your home in Colorado Springs with Brian L. A. Wess
Purchasing a home is intimidating for a lot of people, but it's not too complex with a little planning ahead of time.
So they'll understand exactly what they can expect, I'll provide buyers with a road map of the entire deal.
Here are my nine steps to purchasing a home.
If you have any questions about any of this information or if you're prepared to get started, you can contact me here or e-mail me at .
Step 1 – Get ready to purchase
Prior to starting your home search, there are many things you should do.
You'll most likely want to assemble an outline of items you want, get an idea of what school districts you want to live in, and begin planning your budget.
A good principle to adhere to is that your mortgage payment should be no more than a third of your monthly income.
Step 2 – Talk to a real estate agent in Colorado Springs
That's where I can help.
I'd be happy to set up a time to get together with you and talk about why you want to buy a home and get an idea of your upcoming plans.
We'll discuss neighborhoods, school districts in the Colorado Springs area, the mortgage industry, and any additional economic factors that might affect your purchase today or in the future.
I'll also help you get started on your loan.
There are some very good mortgage professionals in Colorado Springs, and I work with a lot of them, so you'll be in great hands.
They can assist you with deciding which kind of loan is best for you and help you get qualified.
Step 3 – Start your home search
After our initial meeting, I'll start searching for houses on the market that meet your needs.
I'll research most of the houses and throw out the duds, and then we'll book appointments to tour the houses when it's most convenient for you.
As we tour the homes, I'll identify positive features and negative ones. I'll even ask you to point out what things you like and don't like.
Most often, buyers amend their wish list as we tour houses and some items become far more substantial than others.
If that happens, I'll go back through all the listings one more time and trim it down to the home you've been waiting for.
Step 4 – Know the housing market
Your agent's awareness of the Colorado Springs market is an imperative aspect in your house search. And I assure you I'm informed of all the schools and neighborhoods, and I'll let you know some districts are "hot" and warrant immediate action and others that are "cool" and allow for thoughtful examination.
When we tour houses, I'll be sure to tell you if the seller's list price has room for bargaining or if I believe the house is "priced to sell."
Be careful and be sure to ask your agent lots of questions, as any REALTOR will claim to know the housing market.
If it seems like they don't know everything, contact me at (719) 528-6672 or e-mail me at , and I'll be more than happy to answer any questions you have. My knowledge of the market will help you stay a step ahead throughout the entire deal.
Step 5 – Find your dream house
I'm confident we'll find your dream house in Colorado Springs. When we do, I'll thoroughly create your real estate purchase offer. The offer will be made to fit your needs and the home. We'll include some contingencies, such as acquiring financing, completing the home inspection, and a clean title.
When we send in your offer, most likely you'll need to submit "earnest money." This is a cash deposit made to a home seller to secure the offer to buy the property, and it's most often put towards the cost of closing. If the seller accepts your offer, we should close within 30 to 60 days after. This allows sufficient time for your mortgage financing.
Step 6 – Negotiate the deal
Unfortunately most deals don't close on the initial offer – it's extremely common to receive a counter offer. Don't let it discourage you. We'll consider whether or not to consent to the counter offer, submit our own counter offer, or reject the seller's offer and go on.
Market circumstances determine how aggressively we negotiate the deal.
We'll also work within your financing budget. And when it's all said and done, we'll compose a deal that works well for you.
Step 7 – Obtain your loan
After the contract is signed, you'll begin working with your mortgage lender to close the loan.
If you've been pre-qualified, this shouldn't take long at all, but you need to keep in close contact with your lender.
And I'll care for all the property information your mortgage lender will need 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 getting your loan application. You'll get a Loan Estimate (LE) outlining your closing costs from your mortgage lender within three days of getting your loan application.
This estimate is formed from the loan amount. RESPA requirements mandate that it has to contain all closing costs and fall within a narrow range of accuracy, and I'll review the estimate and let you know if everything looks all right.
Then it's time to close on your house. This will likely happen at a title company or escrow office and will most likely be a smooth and pleasant occasion.
Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you have any questions, just contact me at (719) 528-6672 or e-mail me at .