Let Brian L. A. Wess help you with purchasing your new home in Colorado Springs
For a lot of people, purchasing a home is a stressful event. However, with a little up-front planning, it's not all that hard.
I like to give buyers an outline of the whole deal so they'll know exactly what they can expect.
These are my nine steps to buying a home.
Should you have questions regarding this information or if you're ready to get started, simply contact me here or e-mail me at .
Step 1 – Prepare to buy
There are many things you'll want to contemplate before beginning your home search.
You'll probably want to make a checklist of must-haves, get a feel for what neighborhoods you'd like to live in, and start planning around your budget.
Keeping your mortgage payment less than 1/3 of your monthly income is a good rule of thumb to go by.
Step 2 – Communicate with a real estate agent
This is where I can help.
I'd be more than happy to schedule a time to meet with you and speak with you about why you want to buy a home and get an idea of your plans for the future.
We'll discuss everything from neighborhoods, schools in the Colorado Springs area, the mortgage industry, to any other economic factors that may potentially affect your buying decision today or in the future.
I'll also help you start the loan process.
I partner with some of Colorado Springs's best mortgage professionals, so you can rest assured that you're in great hands.
They will help you decide which type of loan is best for you, as well as help you get qualified.
Step 3 – Start your search
After we meet, I'll begin searching for homes on the market that meet your needs.
I'll get a sneak peek of many of the homes and reject the duds, and then we'll set up appointments to view the homes whenever it's most convenient for you.
When we view the houses, I'll call attention to good features, as well as negative ones. And I'll ask you about things you like and don't like.
Generally, buyers change their list of must-haves as we tour houses and some things become more necessary than others.
If such is the case, I'll search the listings once again and narrow it down to the house you've been dreaming about.
Step 4 – Comprehend the market
My understanding of the Colorado Springs home market is a leading aspect in your home search. I am familiar with all the schools and neighborhoods, and I'll let you know certain districts are "hot" and require prompt action and some that are "cool" and allow for more examination.
When we tour homes, I'll make sure to communicate if the list price has room for bargaining or if I believe the home is "priced to sell."
Any REALTOR in Colorado Springs will tell you they comprehend the market, but beware, and be sure to ask your agent a lot of questions.
If it seems like they don't know everything, contact me at 7195286672 or e-mail me at , and I'd be happy to answer your questions. My knowledge of the market will keep you a step above the rest through the entire deal.
Step 5 – Find the house you've been looking for
We'll find your dream home in Colorado Springs, and when we do, I'll precisely develop your real estate purchase offer. The offer will be tailored to suit your needs and the home, including several contingencies. A few examples are obtaining financing, finishing the home inspection, and a clear title.
When we send in your offer, you'll probably need to submit "earnest money." This is a cash deposit submitted to the home seller to secure an offer to purchase the property. The amount is most often applied to the cost of closing. If your offer is accepted, we should close about 30 to 60 days after. This allows necessary time for your mortgage financing.
Step 6 – Negotiate the deal
A lot of contracts aren't closed on the beginning offer – it's very common to receive a counter offer. Don't let it intimidate you. We'll figure out whether or not to accept the counter offer, propose our own counter offer, or refuse the seller's offer and move on.
Market circumstances will play a big part in how aggressively we negotiate the deal.
In addition, we'll work within your budget. And at the end of the day, we'll put together a deal that works well for you.
Step 7 – Secure financing
Once we sign the final contract, you'll begin working with your lender to close the loan.
It shouldn't take much time at all if you're already pre-qualified, but you should to stay in close contact with your 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 lender will supply you with a Loan Estimate (LE) detailing closing costs within three days of taking your loan application. You'll get a Loan Estimate (LE) of your closing costs from your lender within three days of getting your application.
The estimate rests on the loan amount, and RESPA requirements dictate that it has to contain all closing costs and be within a narrow range of accuracy. I'll study the estimate and let you know if everything looks good.
Then it's time to close on your house. This will likely take place at a title company or escrow office and is often a smooth and pleasant occurrence.
Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you need anything, just contact me at 7195286672 or e-mail me at .