Looking to purchase your home in Colorado Springs? Brian L. A. Wess can help.
Buying a home is an intimidating event for many people, but it isn't too confusing with a bit of planning ahead of time.
So they understand exactly what to expect, I will give buyers a road map of the entire deal.
Here are my nine steps to purchasing a home.
When you're ready to get started, you can contact me here or e-mail me at . I'm glad to answer any questions you have about this information.
Step 1 – Get ready to purchase
Before you commence your home search, there are a lot of things you should consider.
When you begin your search, you'll probably want to create an index of items you want, get a feeling for what school districts and neighborhoods you'd like to live in, and start planning your budget.
A good principle to go by is that your mortgage payment should be close to 30 percent of your monthly income.
Step 2 – Communicate with a real estate agent in Colorado Springs
This is where Brian L. A. Wess comes in.
We'll schedule a time to get together so we can talk about your real estate needs and get an idea of your plans for the future.
We'll talk about neighborhoods, school districts in the Colorado Springs area, the mortgage and housing industries, and any other economic factors that may potentially affect your buying decision today or in the future.
In addition, I'll help you facilitate the loan process.
There are some very good mortgage professionals in Colorado Springs, and I partner with a lot of them, so you're in great hands.
They'll assist you in choosing which type of loan is best for you and help you get qualified.
Step 3 – Start your search
Following our first meeting, I'll start looking for homes on the market that are a great fit for you.
I'll preview many of the homes and throw out the duds, and then we'll set up appointments to view the houses at a time that's convenient for you.
When we tour homes, I'll show you the good features, as well as bad ones. I'll also ask you about things you like and don't like.
Oftentimes, buyers revise their wish list as we tour homes and some things become more necessary than others.
If that happens, I'll look through the listings one more time and trim it down to the home you've been dreaming about.
Step 4 – Know the housing market
My knowledge of the Colorado Springs home market is a crucial element in your house search. I'm mindful of all the neighborhoods and school districts, and I will let you know which areas are "hot" and warrant prompt action and some that are "cool" and allow for more examination.
As we tour homes, I'll let you know if the seller's asking price has room for bargaining or if I believe the house is "priced to sell."
Any real estate agent in Colorado Springs will tell you they know the market, but beware, 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 more than happy to answer your questions. My market expertise will help you stay a step ahead through the entire process.
Step 5 – Find your dream home
We'll find your dream home in the Colorado Springs area, and when that happens, I'll meticulously develop your home purchase offer. The offer will be tailored exactly to your needs and the home, including many contingencies. A few examples are obtaining financing, finishing the home inspection, and a clear title.
When turning in your offer, you'll likely want to present "earnest money." This is a cash deposit submitted to a seller to secure the offer to purchase the property, and it's usually put towards the cost of closing. If the offer is accepted by the seller, we should close within 30 to 60 days after. This allows sufficient time for your mortgage financing.
Step 6 – Negotiate
Most contracts don't close on the beginning offer, and it's really common to receive a counter offer. Don't let it intimidate you. We'll consider whether or not to agree to the counter offer, submit our own counter offer, or decline the seller's offer and move on.
Market conditions will play a big part in 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 assemble a deal that works well for you.
Step 7 – Get financing
Once we sign the final deal, you'll start working with your lender to close the loan.
If you're pre-approved, it won't take long at all, but you'll want to stay in close contact with your mortgage lender.
And I'll sort out all the property information your 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) outlining closing costs from your lender within three days of accepting your application.
This estimate is based on the loan amount, and RESPA requirements dictate that it has to include all closing costs and be within a strict range of accuracy. I'll examine the estimate and let you know if it all looks adequate.
Then it's time to close on your house. This should happen at a title company or escrow office and will most often be a smooth and relaxed event.
Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you need anything, just call me at 7195286672 or e-mail me at .