Are you purchasing your home in Colorado Springs? Brian L. A. Wess can help.
Buying a home is an intimidating event for a lot of people, but it's not too confusing with a little planning ahead of time.
So they understand exactly what to expect, I like to furnish buyers with an overview of the whole deal.
These are my nine steps to buying a home.
When you're ready to get started, simply contact me here or e-mail me at . I'm glad to address questions you have regarding this information.
Step 1 – Get ready to buy a home
There are a lot of things you need to do prior to starting your home search.
When you begin your search, you'll probably want to create an index of items you need to have, get a plan of what neighborhoods you want to live in, and begin planning around your budget.
A good principle to go by is that your mortgage payment should be close to a third of your net monthly income.
Step 2 – Speak with a real estate agent
This is where I come 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 future plans.
We'll talk about the mortgage and housing industries, other economic factors that could potentially affect your purchase today or in the future, as well as neighborhoods and school districts in the Colorado Springs area.
In addition, I'll assist you with getting started on your loan.
I work with some of Colorado Springs's best mortgage professionals, so you can rest assured that you're in great hands.
They'll help you determine which type of loan is best for you, as well as help you get qualified.
Step 3 – Begin looking for a house
Following our initial meeting, I'll start looking for available homes on the market that are a great fit for you.
I'll research many of the homes and remove the bad ones, and then we'll book appointments to tour the homes when it's most convenient for you.
When we tour homes, I'll show you the good features, as well as negative ones. I'll also ask you to tell us about things you like and don't like.
Usually, buyers revise their list of must-haves as we view houses and some things become more necessary than others.
If that happens, I'll search all the listings one more time and narrow it down to the home you've been dreaming about.
Step 4 – Comprehend the housing market
My awareness of the Colorado Springs home market is a necessary element in your house search. I am mindful of all the schools and neighborhoods, and I'll let you know certain districts are "hot" and demand prompt action and some that are "cool" and allow for more analysis.
When we view houses, I'll let you know if the seller's list price has room for negotiation or if I believe the house is "priced to sell."
Any REALTOR in Colorado Springs will tell you they understand the home market, but take note, and make sure you ask a lot of questions.
If it appears they don't know everything, contact me at 7195286672 or e-mail me at , and I'd be more than happy to answer your questions. My knowledge of the market will help you stay a step above the rest through the entire deal.
Step 5 – Find your dream house
We'll find your dream home in Colorado Springs, and when we do, I'll carefully create your real estate purchase offer. The offer will be made to fit your needs and the home. We'll include many contingencies, such as acquiring financing, completing the inspection, and a clear title.
When presenting your purchase offer, you'll likely need to present "earnest money." This is a cash deposit submitted to a seller to secure an offer to buy the property, and it's most often put towards the cost of closing. If the seller accepts your offer, we should close on the property within 30 to 60 days after. This allows ample time for your mortgage financing.
Step 6 – Negotiate
Unfortunately most contracts aren't closed on the initial offer – it's really common to receive a counter offer. Don't let this intimidate you. We'll talk over whether or not to take the counter offer, submit our own counter offer, or reject the seller's offer and move on.
The state of the market determines 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 create a deal that's best for you.
Step 7 – Secure financing
Once we sign the final deal, you'll start working with your lender to close the loan.
It shouldn't take much time at all if you're already pre-qualified, but you'll want to keep in close contact with your mortgage lender.
And I'll sort out all the property information your lender needs to close the loan.
Step 8 – Close the deal
Your mortgage lender will supply you with a Loan Estimate (LE) outlining your closing costs within three days of receiving your application. You'll get a Loan Estimate (LE) outlining your closing costs from your mortgage lender within three days of taking your loan application.
The estimate depends on the loan amount. RESPA requirements dictate that it has to contain all closing costs and fall within a precise range of accuracy, and I'll review the estimate and let you know if everything looks good.
Then we'll close on your house. This will most often take place at a title company or escrow office and should be a smooth and calm affair.
Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you need anything, be sure to contact me at 7195286672 or e-mail me at .