Buying or selling a home in Colorado Springs? Brian L. A. Wess can help.
With a little up-front planning, buying a home isn't too complex, but the event is intimidating for many people.
I like to furnish buyers with an overview of the entire deal so they'll know exactly what they can expect.
Below are my nine steps to buying a home.
If you have any questions regarding any of this information or if you're prepared to get started, you can contact me here or e-mail me at .
Step 1 – Prepare to buy
Before you start looking for a home, there are many things you should take into account.
You'll want to form a list of items you want, plan for what neighborhoods you want to live in, and begin working on your budget.
A good guideline to follow is that your mortgage payment should be around a third of your monthly income.
Step 2 – Contact a real estate agent
That's where I can help.
I'd like to schedule a time to get together with you and speak with you regarding your real estate needs and get an idea of your future plans.
We'll discuss the mortgage and housing industries, other economic factors that might affect your buying decision today or in the future, as well as neighborhoods and school districts in the Colorado Springs area.
I can also help you begin the loan process.
There are some great mortgage professionals in Colorado Springs, and I partner with a lot of them, so you're in great hands.
They will help you choose which kind of loan is best for you, as well as help you get qualified.
Step 3 – Begin your search
After our initial meeting, I'll begin searching for available houses on the market that are a good fit for you.
I'll research many of the homes and throw out the duds, and then we'll schedule appointments to view the homes at a time that's convenient for you.
As we view the houses, I'll call attention to positive features and bad ones. I'll also ask you about things you like and don't like.
Oftentimes, buyers update their list of must-haves as we tour houses and some things become more essential than others.
If that's the case, I'll go back through all the listings once more and trim it down to the home you've been dreaming about.
Step 4 – Get a grasp of the market
An agent's understanding of the Colorado Springs market is a necessary factor in your house search. And I assure you I'm familiar with all the schools and neighborhoods, and I will communicate which districts are "hot" and require prompt action and some that are "cold" and allow for more analysis.
As we view homes, I'll be sure to tell you when the list price has room for bargaining and when I believe the house is "priced to sell."
Every REALTOR in Colorado Springs will claim to truly know the housing market, but trust your instincts, and be sure to ask your agent lots of questions.
If things don't add up, call me at 7195286672 or e-mail me at , and I'll be glad to answer any questions you might have. My market knowledge will help you stay a step ahead through the entire deal.
Step 5 – Find the home of your dreams
We'll find your dream home in the Colorado Springs area, and when we do, I'll meticulously create your home purchase offer. The offer will be tailored with your needs in mind and the home, including some contingencies. A few examples are acquiring financing, finishing the home inspection, and a clean title.
When we present your offer, you'll likely need to present "earnest money." This is a cash deposit submitted to the home seller to secure the offer to purchase the property. The amount is often applied to the cost of closing. If your offer is accepted, we should close about 30 to 60 days afterward. This allows sufficient time for your mortgage financing.
Step 6 – Negotiate
Unfortunately most deals don't close on the initial offer, and it's widely common to receive a counter offer. Don't let it intimidate you. We'll talk over whether or not to agree to the counter offer, submit our own counter offer, or reject the seller's offer and go on.
How aggressively we negotiate the deal depends on market circumstances.
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 – Get your loan
Once we sign the final contract, you'll start working with your mortgage lender to close the loan.
If you're already pre-approved, it shouldn't take much time at all. But you need to keep in close contact with your mortgage lender.
And I'll handle all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) of your closing costs from your lender within three days of receiving your application.
This estimate depends on the loan amount, and RESPA requirements order that it has to involve all closing costs and be within a precise range of accuracy. I'll analyze the estimate and let you know if everything looks permissible.
Then it's time to close on your house. This should happen at a title company or escrow office and should be a smooth and peaceful occasion.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you need anything, simply contact me at 7195286672 or e-mail me at .