Contemplating purchasing a home in Colorado Springs? Brian L. A. Wess can help.
With a little planning ahead of time, buying a home isn't too complicated, but the event is intimidating for a lot of people.
So they'll understand exactly what to expect, I will give buyers a road map of the whole deal.
Below 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 happy to answer any questions you have about this information.
Step 1 – Prepare to buy a home
Before you start your home search, there are a lot of things you'll want to take into account.
You'll probably want to form a checklist of items you need, get a plan of what neighborhoods you'd like to live in, and begin planning your budget.
Ensuring your mortgage payment is less than or around 30 percent of your net monthly income is a good rule to go by.
Step 2 – Contact a real estate agent
This is where Brian L. A. Wess can help.
I'd be more than happy to schedule a time to meet with you and communicate with you about your real estate needs and get an idea of your plans for the future.
We'll talk about the mortgage and housing industries, other economic factors that may potentially affect your purchase today or in the future, as well as neighborhoods and school districts in the Colorado Springs area.
I can also help you start the loan process.
There are some very good mortgage professionals in Colorado Springs, and I work with a lot of them, so you'll be in great hands.
They'll assist you in figuring out which kind of loan is best for you and help you get qualified.
Step 3 – Start your search
After we meet, I'll start finding available homes on the market that are good for you.
I'll research many of the homes and throw out the duds, and then we'll set up appointments to view the houses when it's most convenient for you.
As we view homes, I'll point out positive features, as well as bad ones. I'll also ask you about things you like and don't like.
Frequently, buyers revise their wish list as we view houses and some things become far more important than others.
If that happens, I'll look through all the listings one more time and trim it down to the house of your dreams.
Step 4 – Understand the market
My awareness of the Colorado Springs market is a fundamental agent in your house search. I'm informed of all the neighborhoods and school districts, and I can communicate some districts are "hot" and require prompt action and others that are "cool" and allow for more examination.
As we tour homes, I'll be sure to tell you if the list price has room for bargaining or if I believe the house is "priced to sell."
When working with an agent, be careful and make sure you ask lots of questions. Any REALTOR will tell you they truly understand the market.
If it appears they don't know everything, contact me at (719) 528-6672 or e-mail me at , and I'll be more than happy to answer any questions you have. My market knowledge will help you stay a step ahead throughout the entire deal.
Step 5 – Find the house of your dreams
I'm positive we'll find the home of your dreams in Colorado Springs. When we do, I'll meticulously create your real estate purchase offer. The offer will be tailored exactly to your needs and the home, including a lot of contingencies. A few examples are getting financing, carrying out the inspection, and a clean title.
When turning in your purchase offer, you'll need to submit "earnest money." This is a cash deposit submitted to the home seller to secure an offer to purchase the property. The amount is often put towards the closing costs. If the seller accepts the offer, we should close on the property about 30 to 60 days after. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate
Most deals aren't closed on the initial offer – it's widely common to receive a counter offer. Don't let this intimidate you. We'll figure out whether or not to agree to the counter offer, propose our own counter offer, or reject the seller's offer and move 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 constraints. And at the end of the day, we'll formulate a contract that works well for you.
Step 7 – Secure financing
Upon finishing the contract, you'll begin working with your lender to close the loan.
It won't take long at all if you're already pre-qualified, but you'll want to keep in close contact with your mortgage lender.
And I'll take care of all the property information your mortgage lender will need to close the loan.
Step 8 – Close the deal
Your lender will furnish you with a Loan Estimate (LE) detailing your closing costs within three days of accepting your loan application. You'll get a Loan Estimate (LE) of closing costs from your mortgage lender within three days of receiving your loan application.
The estimate is based on the loan amount. RESPA requirements mandate that it has to contain all closing costs and fall within a close range of accuracy, and I'll study the estimate and let you know if it all looks okay.
Then it's time to close on your home. This will probably happen at a title company or escrow office and will most often be a smooth and pleasant event.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you have any questions, just contact me at (719) 528-6672 or e-mail me at .