Buying your home in Colorado Springs with Brian L. A. Wess
Buying a home is a stressful event for many people. However, with a little up-front planning, it isn't too confusing.
So they'll know exactly what to expect, I like to provide buyers with a road map of the entire deal.
Below 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 answer any questions you have about this information.
Step 1 – Get ready to purchase a home
There are several things you should consider prior to commencing your home search.
When you start your search, you'll want to make a checklist of features you want to have, get a feel for what neighborhoods and school districts you want to live in, and begin planning around your budget.
Keeping your mortgage payment less than or around 1/3 of your monthly income is a good rule to follow.
Step 2 – Connect with a real estate agent
This is where Brian L. A. Wess comes in.
We can schedule a time to meet so we can talk about why you want to buy a home and get an idea of your plans for the future.
We'll discuss neighborhoods, schools in the Colorado Springs area, the mortgage and housing industries, and any additional economic factors that may affect your purchase today or in the future.
In addition, I'll help you get started on your loan.
There are some excellent mortgage professionals in Colorado Springs, and I partner with a lot of them, so you can rest assured that you're in great hands.
They can help you determine which kind of loan is best for you, as well as help you get qualified.
Step 3 – Begin your home search
Following our first meeting, I'll start searching for homes 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 houses when it's most convenient for you.
When we view homes, I'll identify positive features, as well as negative ones. And I'll ask you to talk about things you like and dislike.
It's widely common for buyers to change their wish list as we tour houses and some features become far more important than others.
If that's the situation, I'll search all the listings one more time and trim it down to the house you've been waiting for.
Step 4 – Comprehend the market
Your agent's awareness of the Colorado Springs home market is a leading component in your house search. And I can assure you I'm acquainted with all the school districts and neighborhoods, and I can let you know which districts are "hot" and demand immediate action and the ones that are "cold" and allow for careful analysis.
When we view homes, I'll let you know when the asking price has room for negotiation and also when I trust the home is "priced to sell."
When working with an agent, be mindful and be sure to ask lots of questions. Every REALTOR will tell you they comprehend the home market.
If it seems like they don't know everything, call me at 7195286672 or e-mail me at , and I'll be glad to answer your questions. My understanding of the market will keep you a step ahead throughout the entire deal.
Step 5 – Find your dream house
We'll find your dream home in the Colorado Springs area, and when we do, I'll carefully develop your purchase offer. The offer will be made to suit your needs and the home. We'll include a lot of contingencies, such as acquiring financing, completing the home inspection, and a clean title.
When submitting your purchase offer, most likely you'll want to present "earnest money." This is a cash deposit given to the home seller to secure the offer to buy the property, and it's typically put towards the closing costs. If the offer is accepted, we should close about 30 to 60 days after. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate
Most contracts don't close on the beginning offer. It's extremely common to receive a counter offer. But don't let this intimidate you. We'll talk over whether or not to consent to the counter offer, submit our own counter offer, or reject the seller's offer and go on.
The state of the market will play a part in how aggressively we negotiate the deal.
We'll also work within your financing budget. And at the end of the day, we'll compose a contract that is best for you.
Step 7 – Get financing
Upon signing the contract, you'll start working with your lender to close the loan.
It shouldn't take much time at all if you're pre-qualified, but you need to stay in close contact with your lender.
And I'll look after all the property information your lender will need to close the loan.
Step 8 – Close the deal
Your mortgage lender will furnish you with a Loan Estimate (LE) outlining closing costs within three days of receiving your application. You'll get a Loan Estimate (LE) of your closing costs from your mortgage lender within three days of accepting your loan application.
The estimate rests on the loan amount. RESPA requirements dictate that it has to contain all closing costs and be within a strict range of accuracy, and I'll review the estimate and let you know if it all looks good.
Then we'll close on your house. This will likely happen at a title company or escrow office and is often a smooth and pleasant event.
Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you have any questions, just call me at 7195286672 or e-mail me at .