Are you contemplating buying your new home in Colorado Springs?
Purchasing a home intimidates most people, but it isn't very hard with a bit of up-front planning.
So they'll understand exactly what to expect, I'll provide buyers with a road map of the whole deal.
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 regarding this information.
Step 1 – Prepare to purchase
Before you begin looking for a home, there are a lot of things you need to take into account.
You'll most likely want to make a checklist of items you need to have, get a feeling for what neighborhoods you'd like to live in, and start working on your budget.
A good rule of thumb to go by is that your mortgage payment should be 30 percent of your monthly income.
Step 2 – Connect with a real estate agent in Colorado Springs
This is where I can help.
We can plan a time to meet so we can talk about why you want to buy a home and get an idea of your plans for the future.
We'll talk about everything from neighborhoods, school districts in the Colorado Springs area, the mortgage and housing industries, to any other economic factors that may affect your purchase today or in the future.
I'll also help you begin the loan process.
I work with some of the finest mortgage professionals in Colorado Springs, so you'll be in great hands.
They'll assist you in figuring out which type of loan is best for you and help you get approved.
Step 3 – Start your home search
After our initial meeting, I'll begin looking for homes on the market that are great for you.
I'll preview most of the homes and eliminate the duds, and then we'll set up appointments to view the homes when it's convenient for you.
As we tour the houses, I'll point out good features and bad ones. I'll even ask you what things you like and dislike.
Usually, buyers revise their must-have list as we view houses and some features become far more important than others.
If such is the case, I'll search the listings once again and trim it down to the house you've been wishing for.
Step 4 – Know the housing market
My awareness of the Colorado Springs market is a crucial component in your house search. I am acquainted with all the schools and neighborhoods, and I will let you know certain areas are "hot" and require prompt action and some that are "cool" and allow for careful examination.
When we view houses, I'll make sure to communicate when the list price has room for bargaining and when I trust the house is "priced to sell."
When working with an agent, be mindful and be sure to ask a lot of questions. Any REALTOR in Colorado Springs will claim to truly understand the home market.
If things don't add up, just call me at (719) 528-6672 or e-mail me at , and I'd be glad to answer any questions you might have. My knowledge of the market will keep you a step ahead through the entire deal.
Step 5 – Find your dream home
I know we'll find your dream house in Colorado Springs. When we do, I'll precisely create your home purchase offer. The offer will be tailored exactly to your needs and the home, including a lot of contingencies. A few examples are obtaining financing, carrying out the home inspection, and a clear title.
When we turn in your offer, you'll probably want to submit "earnest money." This is a cash deposit given to the home seller to secure the offer to buy the property and is most often applied to the closing costs. If your offer is accepted by the seller, we should close on the property within 30 to 60 days afterward. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate
Most deals aren't closed on the initial offer. It's pretty common to receive a counter offer. Don't let this discourage you. We'll consider whether or not to consent to the counter offer, propose 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 when it's all said and done, we'll create a deal that works well for you.
Step 7 – Secure financing
After we sign the final sales contract, you'll begin working with your mortgage lender to close the loan.
If you've been pre-qualified, it shouldn't take long at all, but you'll want to keep in close contact with your lender.
And I'll take care of all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
Your mortgage lender will provide you with a Loan Estimate (LE) outlining closing costs within three days of taking your loan application. You'll get a Loan Estimate (LE) outlining closing costs from your mortgage lender within three days of accepting your application.
The estimate rests on the loan amount. RESPA requirements mandate that it has to involve all closing costs and fall within a strict range of accuracy, and I'll go over the estimate and let you know if everything looks adequate.
Then it's time to close on your home. This will most often occur at a title company or escrow office and will most often 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 contact me at (719) 528-6672 or e-mail me at .