Let Brian L. A. Wess help you with purchasing your new home in Colorado Springs
Buying a home can be stressful for most people, but it isn't all that confusing with a bit of up-front planning.
I like to furnish buyers with an outline of the whole deal so they'll know exactly what to expect.
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 a home
Before you start your home search, there are several things you need to do.
You'll want to make an outline of features you want, get a plan of what neighborhoods you want to live in, and begin planning your budget.
A good rule of thumb to follow is that your mortgage payment should be less than or close to a third of your net monthly income.
Step 2 – Communicate with a real estate agent in Colorado Springs
That's where I can help.
We'll arrange a time to meet so we can talk about why you want to buy a home and get an idea of your upcoming plans.
We'll talk about neighborhoods, schools in the Colorado Springs area, the mortgage industry, and any additional economic factors that might affect your buying decision today or in the future.
I'll also help you begin the loan process.
Brian L. A. Wess partners with some of Colorado Springs's finest mortgage professionals, so you'll be in great hands.
They can help you choose which kind of loan is best for you, as well as help you get approved.
Step 3 – Begin your search
After our initial meeting, I'll begin finding available homes on the market that are great for you.
I'll preview many of the houses and exclude the bad ones, and then we'll book appointments to tour the homes at a time that's convenient for you.
As we tour homes, I'll point out good features, as well as negative ones. I'll even ask you to tell us about things you like and dislike.
Generally, buyers change their list of must-haves as we tour homes and some things become more crucial than others.
If such is the case, I'll search the listings one more time and narrow it down to the house you've been dreaming about.
Step 4 – Get a grasp of the market
My knowledge of the Colorado Springs home market is an imperative aspect in your home search. I'm conscious of all the school districts and neighborhoods, and I will alert you to what districts are "hot" and require immediate action and the ones that are "cold" and allow for careful examination.
When we view houses, I'll let you know if the seller's list price has room for bargaining or if I believe the home is "priced to sell."
Any real estate agent will claim to know the market, but be wary, and make sure you ask lots of questions.
If it appears they don't know everything, just call me at 7195286672 or e-mail me at , and I'd be happy to answer any questions you have. My understanding of the market will keep you a step ahead throughout the entire process.
Step 5 – Find the house you've been waiting for
We'll find your dream house in the Colorado Springs area, and when that happens, I'll meticulously create your real estate purchase offer. The offer will be tailored to suit your needs and the home, including many contingencies, such as getting financing, completing the inspection, and a clear title.
Upon submitting your offer, you'll probably need to submit "earnest money." This is a cash deposit submitted to the home seller to secure the offer to buy the property, and it's usually applied to the cost of closing. If your offer is accepted, we should close about 30 to 60 days after. This allows ample time for your mortgage financing.
Step 6 – Negotiate
Most deals don't close on the initial offer. It's extremely common to receive a counter offer. But don't let this discourage you. We'll discuss whether or not to agree to the counter offer, present our own counter offer, or reject the seller's offer and move on.
The state of the market will play a large role in how aggressively we negotiate the contract.
In addition, we'll work within your financing limits. And at the end of the day, we'll put together a deal that is best for you.
Step 7 – Secure a loan
Once we sign the final contract, you'll begin working with your lender to close the loan.
This won't take very long at all if you've been pre-approved, but you should to stay in close contact with your lender.
And I'll handle all the property information your lender will need to close the loan.
Step 8 – Close the deal
Your lender will provide you with a Loan Estimate (LE) of closing costs within three days of receiving your application. You'll get a Loan Estimate (LE) detailing your closing costs from your lender within three days of accepting your loan application.
The estimate depends on the loan amount, and RESPA requirements order that it has to contain all closing costs and be within a strict range of accuracy. I'll examine the estimate and let you know if it all looks all right.
Then it's time to close on your house. This will most often happen at a title company or escrow office and will likely be a smooth and calm event.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you need anything, make sure you call me at 7195286672 or e-mail me at .