Are you contemplating purchasing your home in Colorado Springs? Brian L. A. Wess can help.
Purchasing a home is stressful for most people, but with a bit of planning ahead of time, it's not too difficult.
I like to give buyers a road map of the entire deal so they know exactly what to expect.
These 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 buy a home
There are many things you'll want to do prior to starting your home search.
When you begin your search, you'll want to make an outline of items you want to have, plan for what neighborhoods and school districts you'd like to live in, and start planning around your budget.
A good guideline 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'll arrange 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 talk about everything from neighborhoods, schools in the Colorado Springs area, the mortgage industry, to any other economic factors that could potentially affect your purchase today or in the future.
I'll also help you facilitate the loan process.
There are some great 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'll help you choose which type of loan is best for you, as well as help you get qualified.
Step 3 – Start house hunting
After our first meeting, I'll begin finding available houses on the market that suit your needs.
I'll research most of the homes and exclude the duds, and then we'll schedule appointments to view the homes at a time that's convenient for you.
When we tour the homes, I'll identify good features and bad ones. I'll even ask you to tell us about things you like and don't like.
It's widely common for buyers to revise their list of must-haves as we view homes and some items become far more crucial than others.
If that happens, I'll go back through all the listings again and narrow it down to the house of your dreams.
Step 4 – Comprehend the market
Your agent's knowledge of the Colorado Springs housing market is an imperative agent in your house search. And I assure you I'm mindful of all the school districts and neighborhoods, and I'll let you know which neighborhoods are "hot" and warrant prompt action and others that are "cold" and allow for thoughtful analysis.
When we view homes, I'll make sure to communicate when the asking price has room for negotiation and also when I believe the house is "priced to sell."
Be mindful and be sure to ask your agent a lot of questions, as every real estate agent in Colorado Springs will tell you they understand the home market.
If things don't add up, contact me at 7195286672 or e-mail me at , and I'll be glad to answer any questions you may have. My understanding of the market will help you stay a step ahead through the entire deal.
Step 5 – Find your dream home
I'm confident we'll find the home of your dreams in Colorado Springs. When we do, I'll meticulously develop your real estate purchase offer. The offer will be tailored to suit your needs and the home, including many contingencies, such as getting financing, carrying out the inspection, and a clear title.
When presenting your purchase offer, you'll want to present "earnest money." This is a cash deposit given to a seller to secure an offer to buy the property, and it's typically applied to the closing costs. If your offer is accepted, we should close about 30 to 60 days afterward. This allows necessary time for your mortgage financing.
Step 6 – Negotiate
Most deals aren't closed on the beginning offer, and it's very common to receive a counter offer. But don't let this alarm you. We'll consider whether or not to accept the counter offer, present our own counter offer, or reject the seller's offer and go on.
How aggressively we negotiate the contract depends on market conditions.
We'll also work within your financing budget. And when it's all said and done, we'll formulate a deal that is best for you.
Step 7 – Get a loan
Once we sign the final contract, you'll start working with your lender to close the loan.
This shouldn't be a long process at all if you're pre-approved, but you'll need to stay in close contact with your lender.
And I'll manage all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
Your mortgage lender will furnish you with a Loan Estimate (LE) of closing costs within three days of receiving your loan application. You'll get a Loan Estimate (LE) outlining closing costs from your mortgage lender within three days of taking your application.
The estimate is formed from the loan amount. RESPA requirements mandate that it has to involve all closing costs and be within a narrow range of accuracy, and I'll review the estimate and let you know if it all looks okay.
Then it's time to close on your house. This will probably happen at a title company or escrow office and should be a smooth and pleasant affair.
Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you need anything or have any questions, be sure to contact me at 7195286672 or e-mail me at .