Buying or selling a home?
Purchasing a home is a stressful event for most people, but it isn't all that confusing with some up-front planning.
I like to provide buyers with a road map of the whole deal so they understand exactly what to expect.
Below 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 happy to answer any questions you have regarding this information.
Step 1 – Get ready to buy a home
There are plenty of things you need to do before starting your home search.
When you begin your search, you'll want to create an outline of items you want to have, get a feeling for what neighborhoods you want to live in, and begin planning your budget.
Ensuring your mortgage payment is less than a third of your monthly income is a good rule to go by.
Step 2 – Connect with a real estate agent in Colorado Springs
This is where Brian L. A. Wess can help.
We'll arrange a time to get together so we can talk about why you want to buy a home and get an idea of your plans for the future.
We'll talk about everything from neighborhoods, school districts in the Colorado Springs area, the mortgage and housing industries, to any other economic factors that could potentially affect your buying decision today or in the future.
I can also assist you in getting started on your loan.
Brian L. A. Wess partners with some of the best mortgage professionals in Colorado Springs, so you'll be in great hands.
They will help you decide which kind of loan is best for you, as well as help you get approved.
Step 3 – Begin looking for a house
Following our initial meeting, I'll begin finding houses on the market that are a great fit for you.
I'll get a sneak peek of many of the houses and reject the duds, and then we'll book appointments to tour the homes whenever it's most convenient for you.
When we tour homes, I'll call attention to positive features, as well as bad ones. I'll also ask you to point out what things you like and dislike.
It's common for buyers to amend their list of must-haves as we view houses and some items become more crucial than others.
If such is the case, I'll go back through all the listings one more time and trim it down to the house you've been wishing for.
Step 4 – Comprehend the housing market
Your agent's knowledge of the Colorado Springs housing market is an essential component in your home search. And I can assure you I'm familiar with all the schools and neighborhoods, and I'll let you know which neighborhoods are "hot" and require prompt action and some that are "cold" and allow for more analysis.
When we tour homes, I'll let you know if the seller's asking price has room for negotiation or if I believe the house is "priced to sell."
When working with an agent, be mindful and be sure to ask lots of questions. Any real estate agent will claim to truly know the market.
If things don't add up, call me at 7195286672 or e-mail me at , and I'll be happy to answer any questions you may have. My market expertise will keep you a step above the rest through the entire process.
Step 5 – Find your dream home
We'll find your dream house in the Colorado Springs area, and when we do, I'll precisely create your home purchase offer. The offer will be tailored keeping your needs in mind and the home, including several contingencies, such as acquiring financing, finishing the home inspection, and a clear title.
Upon presenting your offer, you'll want to submit "earnest money." This is a cash deposit made to a seller to secure the offer to purchase the property. The amount is often applied to the closing costs. If the seller accepts your offer, we should close on the home within 30 to 60 days afterward. This allows necessary time for your mortgage financing.
Step 6 – Negotiate
Unfortunately most contracts aren't closed on the beginning offer. It's extremely common to receive a counter offer. But don't let it alarm you. We'll talk about whether or not to consent to the counter offer, submit our own counter offer, or decline the seller's offer and go on.
The state of the market will play a part in how aggressively we negotiate the deal.
In addition, we'll work within your financing limits. And when it's all said and done, we'll assemble a contract that works well for you.
Step 7 – Get your loan
After we sign the final deal, you'll begin working with your mortgage lender to close the loan.
If you're pre-qualified, this won't take much time at all, but you need to keep in close contact with your mortgage lender.
And I'll take care of all the property information your lender will need to close the loan.
Step 8 – Close the deal
Your lender will give you a Loan Estimate (LE) detailing closing costs within three days of taking your application. You'll get a Loan Estimate (LE) outlining your closing costs from your mortgage lender within three days of taking your application.
This estimate is formed from the loan amount, and RESPA requirements require that it has to include all closing costs and fall within a close range of accuracy. I'll examine the estimate and let you know if everything looks good.
Then it's time to close on your house. This will most likely happen at a title company or escrow office and will most likely be a smooth and relaxing occurrence.
Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you need anything, simply contact me at 7195286672 or e-mail me at .