Buying or selling a home? Brian L. A. Wess can help.
Purchasing a home intimidates many people, but with some up-front planning, it isn't too complicated.
I like to give buyers a road map of the entire deal so they know exactly what they can expect.
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 address any questions you have regarding this information.
Step 1 – Get ready to purchase a home
Before you start searching for a home, there are a lot of things you'll want to consider.
When you start your search, you'll want to put together an index of features you want, get a feeling for what school districts and neighborhoods you want to live in, and start working on your budget.
A good rule of thumb to adhere to is that your mortgage payment should be around 30 percent of your net monthly income.
Step 2 – Talk to a real estate agent
That's where I come in.
We can book a time to meet so we can talk about your real estate needs and get an idea of your upcoming plans.
We'll talk about everything from neighborhoods, school districts in the Colorado Springs area, the mortgage industry, to any other economic factors that may potentially affect your purchase today or in the future.
In addition, I'll help you facilitate the loan process.
There are some great mortgage professionals in Colorado Springs, and I work with a lot of them, so you can rest assured that you're in great hands.
They can help you decide which kind of loan is best for you, as well as help you get approved.
Step 3 – Start your search
After our initial meeting, I'll start searching for houses on the market that are good for you.
I'll preview most of the homes and throw out the duds, and then we'll set up appointments to tour the houses when it's most convenient for you.
When we view the houses, I'll show you the good features and negative ones. I'll also ask you to talk about things you like and don't like.
It's pretty common for buyers to update their list of must-haves as we view houses and some items become more essential than others.
If that happens, I'll go back through all the listings again and narrow it down to the home of your dreams.
Step 4 – Comprehend the market
An agent's understanding of the Colorado Springs market is an imperative element in your house search. And I assure you I'm informed of all the neighborhoods and schools, and I will let you know which neighborhoods are "hot" and call for immediate action and some that are "cool" and allow for thoughtful analysis.
As we tour houses, I'll make sure to communicate if the seller's asking price has room for bargaining or if I believe the home is "priced to sell."
Be on guard and make sure you ask your agent plenty of questions, as every REALTOR in Colorado Springs will claim to truly understand the housing market.
If things don't add up, just call me at 7195286672 or e-mail me at , and I'd be happy to answer any questions you may have. My market knowledge will keep you a step above the rest throughout the entire deal.
Step 5 – Find the home you've been looking for
I'm sure we'll find the house of your dreams in the Colorado Springs area. When that happens, I'll thoroughly create your home purchase offer. The offer will be made to fit your needs and the home. We'll include several contingencies, such as obtaining financing, finishing the home inspection, and a clear title.
When we present your offer, you'll want to present "earnest money." This is a cash deposit submitted to the home seller to secure an offer to purchase the property, and it's usually put towards the closing costs. If your offer is accepted by the seller, we should close about 30 to 60 days after. This allows necessary time for your mortgage financing.
Step 6 – Negotiate the deal
Unfortunately most contracts aren't closed on the beginning offer. It's really common to receive a counter offer. But don't let it intimidate you. We'll discuss whether or not to take the counter offer, present our own counter offer, or decline 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 constraints. And when it's all said and done, we'll compose a contract that works well for you.
Step 7 – Get financing
After the contract is complete, you'll start working with your mortgage lender to close the loan.
If you've been pre-approved, it won't take much time at all, but you'll need to stay in close contact with your mortgage lender.
And I'll take care of all the property information your lender needs to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) detailing your closing costs from your lender within three days of taking your loan application.
This estimate rests on the loan amount. RESPA requirements dictate that it has to include all closing costs and fall within a narrow range of accuracy, and I'll examine the estimate and let you know if it all looks permissible.
Then it's time to close on your house. This will most likely happen at a title company or escrow office and is often a smooth and pleasant occasion.
Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you have any questions, just contact me at 7195286672 or e-mail me at .