Buying or selling a home in Colorado Springs? Brian L. A. Wess can help.
For many people, purchasing a home can be an intimidating event. However, with some up-front planning, it's not that complicated.
So they'll know exactly what to expect, I like to give buyers a road map of the whole deal.
Here are my nine steps to buying a home.
If you have questions about this information or if you're ready to get started, simply contact me here or e-mail me at .
Step 1 – Prepare to purchase
There are a lot of things you'll want to take into account prior to commencing your home search.
When you start your search, you'll probably want to make a list of must-haves, get a feel for what school districts and neighborhoods you want to live in, and begin planning around your budget.
Ensuring your mortgage payment is less than or close to 1/3 of your monthly income is a good principle to go by.
Step 2 – Get in touch with a real estate agent
That's where I come in.
We can arrange a time to meet so we can talk about your real estate needs and get an idea of your future plans.
We'll talk about neighborhoods, schools in the Colorado Springs area, the mortgage and housing industries, and any additional economic factors that may potentially affect your buying decision today or in the future.
I'll also assist you with getting started on your loan.
I work with some of the finest mortgage professionals in Colorado Springs, so you'll be in great hands.
They can assist you with determining which type of loan is best for you and help you get approved.
Step 3 – Begin your home search
After we meet, I'll start searching for available houses on the market that meet your needs.
I'll research many of the homes and eliminate the bad ones, and then we'll set up appointments to tour the homes whenever it's convenient for you.
When we view the houses, I'll identify good features and negative ones. I'll also ask you to point out what things you like and dislike.
For the most part, buyers update their wish list as we tour homes and some things become far more essential than others.
If such is the case, I'll search the listings once again and narrow it down to the house of your dreams.
Step 4 – Know the housing market
An agent's knowledge of the Colorado Springs home market is an essential element in your home search. And I can assure you I'm conscious of all the neighborhoods and schools, and I will let you know which neighborhoods are "hot" and demand immediate action and others that are "cool" and allow for thoughtful examination.
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."
Be on guard and be sure to ask your agent a lot of questions, as every REALTOR will convince you they comprehend the market.
If things don't add up, call me at 7195286672 or e-mail me at , and I'll be glad to answer your questions. My understanding of the market will keep you a step ahead through the entire process.
Step 5 – Find your dream house
We'll find the home of your dreams in Colorado Springs, and when we do, I'll precisely develop your real estate purchase offer. The offer will be tailored with your needs in mind and the home, including some contingencies, such as acquiring financing, completing the home inspection, and a clean title.
When we turn in your offer, you'll need to submit "earnest money." This is a cash deposit made to a seller to secure the offer to purchase the property and is often applied to the closing costs. If your offer is accepted, we should close on the home within 30 to 60 days after. This allows sufficient time for your mortgage financing.
Step 6 – Negotiate the deal
Unfortunately most contracts aren't closed on the first offer – it's really 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 refuse the seller's offer and go on.
Market conditions determine how aggressively we negotiate the deal.
In addition, we'll work within your financing budget. And when it's all said and done, we'll create a deal that works well for you.
Step 7 – Get a loan
Once the deal is finalized, you'll start working with your mortgage lender to close the loan.
If you've been pre-qualified, this shouldn't take long at all. However, you'll need to stay in close contact with your mortgage lender.
And I'll deal with all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) detailing your closing costs from your mortgage lender within three days of accepting your application.
This estimate is formed from the loan amount, and RESPA requirements dictate that it has to contain all closing costs and be within a precise range of accuracy. I'll study the estimate and let you know if everything looks okay.
Then we'll close on your house. This should happen at a title company or escrow office and is often a smooth and peaceful affair.
Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you need anything, just contact me at 7195286672 or e-mail me at .