Are you looking to purchase a home in Colorado Springs? Brian L. A. Wess can help.
For a lot of people, purchasing a home is a stressful event. However, with a little planning ahead of time, it isn't very complex.
So they understand exactly what to expect, I'll give buyers a road map of the entire deal.
These are my nine steps to buying a home.
If you have questions about any of this information or if you're ready to get started, you can contact me here or e-mail me at .
Step 1 – Prepare to purchase a home
Before you begin your home search, there are several things you need to consider.
You'll probably want to assemble an index of items you need, plan for what neighborhoods and school districts you want to live in, and start planning around your budget.
Ensuring your mortgage payment is less than a third of your net monthly income is a good guideline to follow.
Step 2 – Speak with a real estate agent in Colorado Springs
That's where I come in.
I'd love to book 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 future plans.
We'll talk about neighborhoods, school districts in the Colorado Springs area, the mortgage industry, and any additional economic factors that may affect your purchase today or in the future.
I can also assist you with getting started on your loan.
There are some excellent mortgage professionals in Colorado Springs, and I work with a lot of them, so you're in great hands.
They will assist you in determining which kind of loan is best for you and help you get qualified.
Step 3 – Begin house hunting
Following our first meeting, I'll start looking for available homes on the market that suit your needs.
I'll preview many of the houses and exclude the duds, and then we'll schedule appointments to view the homes whenever it's most convenient for you.
As we view homes, I'll call attention to good features, as well as bad ones. I'll also ask you to point out what things you like and dislike.
It's pretty common for buyers to amend their list of must-haves as we view homes and some features become more substantial than others.
If that's the situation, I'll go back through all the listings once more and trim it down to the house of your dreams.
Step 4 – Know the housing market
Your agent's knowledge of the Colorado Springs market is a fundamental aspect in your home search. And I assure you I'm informed of all the schools and neighborhoods, and I'll alert you to some districts are "hot" and demand prompt action and the ones that are "cool" and allow for careful analysis.
When we tour houses, I'll make sure to communicate when the list price has room for negotiation and also when I believe the house is "priced to sell."
When working with an agent, be on guard and make sure you ask plenty of questions. Any real estate agent will claim to know the market.
If things don't add up, contact me at (719) 528-6672 or e-mail me at , and I'd be happy to answer any questions you may have. My understanding of the market will keep you a step ahead through the entire deal.
Step 5 – Find your dream home
I'm positive we'll find your dream house in the Colorado Springs area. When that happens, I'll carefully develop your purchase offer. The offer will be tailored with your needs in mind and the home, including a lot of contingencies, such as acquiring financing, finishing the home inspection, and a clear title.
When we turn in your offer, most likely you'll need to submit "earnest money." This is a cash deposit given to a home seller to secure an offer to buy the property, and it's most often applied to the closing costs. If the offer is accepted by the seller, we should close within 30 to 60 days after. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate the deal
A lot of contracts aren't closed on the first offer – it's widely common to receive a counter offer. Don't let it intimidate you. We'll discuss whether or not to accept the counter offer, present our own counter offer, or reject the seller's offer and move on.
Market circumstances will play a vital role in how aggressively we negotiate the deal.
We'll also work within your financing constraints. And at the end of the day, we'll compose a contract that is best for you.
Step 7 – Obtain a loan
Once we sign the final sales contract, you'll start working with your mortgage lender to close the loan.
It won't take very long at all if you're pre-qualified, but you should to keep in close contact with your mortgage lender.
And I'll look after all the property information your mortgage lender will need to close the loan.
Step 8 – Close the deal
Your mortgage lender will send you a Loan Estimate (LE) of closing costs within three days of receiving your application. You'll get a Loan Estimate (LE) of closing costs from your lender within three days of taking your application.
This estimate depends on the loan amount. RESPA requirements dictate that it has to involve all closing costs and fall within a tight range of accuracy, and I'll review the estimate and let you know if it all looks good.
Then we'll close on your home. This will probably happen at a title company or escrow office and will probably be a smooth and hassle-free occurrence.
Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you have any questions, just contact me at (719) 528-6672 or e-mail me at .