Are you purchasing a new home in Colorado Springs? Brian L. A. Wess can help.
Purchasing a home is a stressful event for most people, but it isn't that complicated with a little planning ahead of time.
So they'll know exactly what they can expect, I'll furnish buyers with a road map of the whole deal.
Below are my nine steps to purchasing a home.
When you're ready to get started, just 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 begin searching for a home, there are several things you need to contemplate.
When you start your search, you'll want to put together an outline of items you want, get a feeling for what neighborhoods you'd like to live in, and start working on your budget.
Ensuring your mortgage payment is around 1/3 of your net monthly income is a good rule to follow.
Step 2 – Contact a real estate agent
This is where Brian L. A. Wess comes in.
I'd like to set up a time to get together with you and talk about your real estate needs and get an idea of your upcoming plans.
We'll talk about neighborhoods, school districts in the Colorado Springs area, the mortgage and housing industries, and any other economic factors that could potentially affect your purchase today or in the future.
In addition, I'll help you facilitate the loan process.
There are some very good mortgage professionals in Colorado Springs, and I work with a lot of them, so you're in great hands.
They will assist you with determining which kind of loan is best for you and help you get approved.
Step 3 – Begin house-hunting
Following our first meeting, I'll begin searching for houses on the market that are good for you.
I'll preview many of the homes and throw out the duds, and then we'll book appointments to tour the homes at a time that's convenient for you.
When we tour the homes, I'll point out positive features, as well as negative ones. I'll even ask you what things you like and dislike.
It's pretty common for buyers to update their list of must-haves as we view houses and some features become far more necessary than others.
If that's the situation, I'll look through all the listings another time and narrow it down to the home you've been waiting for.
Step 4 – Comprehend the housing market
My awareness of the Colorado Springs housing market is a crucial aspect in your house search. I am mindful of all the school districts and neighborhoods, and I will let you know which areas are "hot" and warrant immediate 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 think the house is "priced to sell."
Every real estate agent will convince you they truly understand the home market, but keep an eye out, and be sure to ask your agent a lot of questions.
If things don't add up, contact me at (719) 528-6672 or e-mail me at , and I'll be happy to answer any questions you may have. My market expertise will help you stay a step ahead through the entire deal.
Step 5 – Find the home you've been waiting for
We'll find your dream home in the Colorado Springs area, and when we do, I'll precisely create your real estate purchase offer. The offer will be tailored to suit your needs and the home, including several contingencies. A few examples are acquiring financing, completing the home inspection, and a clean title.
When we turn in your purchase offer, you'll want to present "earnest money." This is a cash deposit made to the home seller to secure the offer to purchase the property, and it's usually applied to the cost of closing. If your offer is accepted, we should close on the property about 30 to 60 days afterward. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate
Unfortunately most deals aren't closed on the beginning offer – it's widely common to receive a counter offer. But don't let this alarm you. We'll discuss whether or not to consent to the counter offer, submit our own counter offer, or decline the seller's offer and move on.
How aggressively we negotiate the deal depends on the state of the market.
In addition, we'll work within your budget. And at the end of the day, we'll put together a deal that works well for you.
Step 7 – Secure a loan
Once we sign the final contract, you'll begin working with your lender to close the loan.
If you've been pre-qualified, it won't take very long at all. But you should to stay in close contact with your mortgage lender.
And I'll sort out all the property information your mortgage lender will need to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) outlining your closing costs from your lender within three days of accepting your application.
This estimate depends on the loan amount. RESPA requirements mandate that it has to include all closing costs and be within a precise range of accuracy, and I'll examine the estimate and let you know if everything looks all right.
Then we'll close on your home. This should happen at a title company or escrow office and will most likely be a smooth and relaxing affair.
Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you need anything or have any questions, just contact me at (719) 528-6672 or e-mail me at .