Looking to buy a new home in Colorado Springs? Brian L. A. Wess can help.
Buying a home is an intimidating event for most people. However, with some up-front planning, it isn't too difficult.
So they understand exactly what they can expect, I like to provide buyers with an overview of the entire deal.
Here are my nine steps to purchasing a home.
When you're ready to get started, simply contact me here or e-mail me at . I'm happy to address any questions you have about this information.
Step 1 – Prepare to purchase a home
Before you begin looking for a home, there are a lot of things you need to do.
When you start your search, you'll want to make a list of features you need, get an idea of what neighborhoods you'd like to live in, and begin planning around your budget.
Ensuring your mortgage payment is less than or close to 30 percent of your monthly income is a good guideline to follow.
Step 2 – Speak with a real estate agent in Colorado Springs
This is where Brian L. A. Wess can help.
I'd like to plan a time to meet with you and speak with you regarding why you want to buy a home and get an idea of your plans for the future.
We'll talk about everything from neighborhoods, schools in the Colorado Springs area, the mortgage and housing industries, to any other economic factors that might affect your buying decision today or in the future.
I can also assist you in getting started on your loan.
There are some great mortgage professionals in Colorado Springs, and I partner with a lot of them, so you'll be in great hands.
They can assist you in choosing which type of loan is best for you and help you get qualified.
Step 3 – Start looking for a house
After our first meeting, I'll start finding houses on the market that meet your needs.
I'll get a sneak peek of many of the houses and remove the duds, and then we'll schedule appointments to view the houses when it's most convenient for you.
When we tour the houses, I'll show you the good features, as well as bad ones. And I'll ask you about things you like and don't like.
Most often, buyers change their wish list as we view homes and some features become far more essential than others.
If such is the case, I'll look through the listings another time and narrow it down to the home you've been wishing for.
Step 4 – Know the housing market
An agent's awareness of the Colorado Springs home market is a necessary element in your house search. And I assure you I'm conscious of all the schools and neighborhoods, and I will let you know certain neighborhoods are "hot" and call for prompt action and others that are "cool" and allow for more analysis.
As we tour homes, I'll let you know if the asking price has room for bargaining or if I believe the home is "priced to sell."
When working with an agent, be mindful and be sure to ask plenty of questions. Every real estate agent will tell you they truly understand the home market.
If it doesn't seem like they know everything, just call me at (719) 528-6672 or e-mail me at , and I'll be happy to answer any questions you have. My understanding of the market will keep you a step ahead throughout the entire deal.
Step 5 – Find your dream house
We'll find the house of your dreams in Colorado Springs, and when that happens, I'll thoroughly develop your home purchase offer. The offer will be made to fit your needs and the home. We'll include a lot of contingencies, such as getting financing, completing the home inspection, and a clean title.
Upon submitting your purchase offer, you'll want to present "earnest money." This is a cash deposit submitted to the home seller to secure the offer to buy the property, and it's most often applied to the cost of closing. If your offer is accepted, we should close on the property within 30 to 60 days afterward. This allows necessary time for your mortgage financing.
Step 6 – Negotiate
Unfortunately most deals don't close on the initial offer. It's really common to receive a counter offer. Don't let it discourage you. We'll talk about whether or not to take the counter offer, present our own counter offer, or refuse the seller's offer and move on.
The state of the market will play a vital role in how aggressively we negotiate the contract.
We'll also work within your financing budget. And when it's all said and done, we'll create a contract that works well for you.
Step 7 – Get your loan
Once the deal is complete, you'll begin working with your lender to close the loan.
If you're already pre-qualified, this shouldn't be a long process at all, but you need to keep in close contact with your lender.
And I'll care for all the property information your lender needs to close the loan.
Step 8 – Close the deal
Your lender will furnish you with a Loan Estimate (LE) outlining closing costs within three days of getting your loan application. You'll get a Loan Estimate (LE) detailing your closing costs from your mortgage lender within three days of receiving your application.
The estimate is formed from the loan amount. RESPA requirements dictate that it has to contain all closing costs and be within a precise range of accuracy, and I'll review the estimate and let you know if it all looks adequate.
Then it's time to close on your home. This will most often occur at a title company or escrow office and should be a smooth and stress-free occurrence.
Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you need anything, simply contact me at (719) 528-6672 or e-mail me at .