Are you purchasing a home in Colorado Springs? Brian L. A. Wess can help.
Purchasing a home is stressful for most people. However, with a bit of planning ahead of time, it's not very complicated.
I like to supply buyers with an outline of the whole deal so they'll understand exactly what to expect.
These are my nine steps to buying a home.
When you're ready to get started, you can contact me here or e-mail me at . I'm happy to address any questions you have about this information.
Step 1 – Get ready to purchase a home
There are many things you should consider before starting your home search.
You'll want to make a check list of features you need, get a feel for what neighborhoods you'd like to live in, and begin planning around your budget.
Ensuring your mortgage payment is around 1/3 of your net monthly income is a good rule of thumb to adhere to.
Step 2 – Connect with a real estate agent
This is where I come in.
I'd be more than happy to book a time to get together with you and communicate with you regarding your real estate needs and get an idea of your plans for the future.
We'll discuss neighborhoods, school districts in the Colorado Springs area, the mortgage industry, and any other economic factors that could potentially affect your purchase today or in the future.
In addition, I'll help you get started on your loan.
Brian L. A. Wess partners with some of the finest mortgage professionals in Colorado Springs, so you'll be in great hands.
They will assist you with determining which kind of loan is best for you and help you get qualified.
Step 3 – Start house hunting
After our first meeting, I'll begin finding available homes on the market that suit your needs.
I'll get a sneak peek of many of the houses and reject the duds, and then we'll schedule appointments to view the homes at a time that's convenient for you.
As we view houses, I'll call attention to positive features, as well as bad ones. I'll even ask you to tell us about things you like and don't like.
It's pretty common for buyers to update their list of must-haves as we tour homes and some items become more necessary than others.
If such is the case, I'll look through all the listings again and narrow it down to the house you've been waiting for.
Step 4 – Comprehend the market
My knowledge of the Colorado Springs home market is an essential aspect in your home search. I'm informed of all the neighborhoods and school districts, and I'll let you know what districts are "hot" and require immediate action and some that are "cool" and allow for thoughtful examination.
As we tour houses, I'll let you know if the asking price has room for negotiation or if I believe the home is "priced to sell."
Any REALTOR will tell you they know the market, but be careful, and make sure you ask your agent lots of questions.
If it seems like they don't know everything, call me at 7195286672 or e-mail me at , and I'd be more than happy to answer any questions you may have. My knowledge of the market will help you stay a step ahead throughout the entire process.
Step 5 – Find your dream home
I'm positive we'll find the home of your dreams in the Colorado Springs area. When we do, I'll meticulously develop your purchase offer. The offer will be tailored with your needs in mind and the home, including several contingencies. A few examples are obtaining financing, carrying out the home inspection, and a clean title.
When sending in your offer, you'll likely need to present "earnest money." This is a cash deposit submitted to the seller to secure an offer to purchase the property. The amount is usually applied to the cost of closing. If the offer is accepted, we should close on the property about 30 to 60 days afterward. This allows enough time for your mortgage financing.
Step 6 – Negotiate the deal
A lot of contracts don't close on the beginning offer, and it's widely common to receive a counter offer. But don't let it intimidate you. We'll consider whether or not to consent to the counter offer, present 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 financing constraints. And at the end of the day, we'll put together a contract that works well for you.
Step 7 – Secure financing
Once the deal is finished, you'll start working with your mortgage lender to close the loan.
If you've been pre-qualified, this shouldn't be a long process 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 lender will need to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) detailing closing costs from your mortgage lender within three days of accepting your loan application.
The estimate is based on the loan amount. RESPA requirements mandate that it has to include all closing costs and be within a precise range of accuracy, and I'll go over the estimate and let you know if everything looks permissible.
Then we'll close on your house. This will probably occur at a title company or escrow office and will probably be a smooth and comfortable affair.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you need anything or have any questions, just contact me at 7195286672 or e-mail me at .