Knowledge Center

Learn more about the home buying process by using our Offer Simulator Tool or reading through VroomBrick’s Guidance Information.

Offer Simulator
Buyer Guidance
Seller Guidance
Home Inspection Process
Home Price
:
$
Your Offer
$
Offers 5k over list must be accompanied with an appraisal contingency waiver for it to affect offer probability.
Earnest Deposit + Down Payment
5
Home Inspection
Waive Home Inspection Contingency
For Info Only Home Inspection
Waive Appraisal Contingency
Appraisal Difference Guarantee: in the even of low appraisal how much of a difference will you cover out of pocket?
$
Flexible Close Date
Closing Cost Assistance
Assistance Price
0
Buyer pays for Termite and Moisture Inspection

Disclaimer for Home Offer Simulator

Please read this disclaimer carefully before using the Home Offer Simulator ("the Simulator").

Not Offer Advice: The information provided by the Simulator is for general informational purposes only. All information in the Simulator is provided in good faith, however, we make no representation or warranty of any kind, express or implied, regarding the accuracy, adequacy, validity, reliability, availability, or completeness of any information in the Simulator. Under no circumstance shall we have any liability to you for any loss or damage of any kind incurred as a result of the use of the Simulator or reliance on any information provided by the Simulator. The Simulator is not a substitute for professional advice. Therefore, the use of the Simulator does not constitute offer advice, and should not be relied upon in making or refraining from making, any decision regarding real estate offers.

Tool for Visualization: The Simulator is designed to provide users with a visual representation of various options for submitting an offer on a home and to illustrate the potential net effect of these options. It is intended to be used as a tool to help users understand and explore various scenarios in the home buying process. The outcomes and scenarios presented in the Simulator are hypothetical and should not be taken as predictions or guarantees of any specific result or outcome in real-world situations.

Consult a Closing Attorney: The Simulator does not provide legal advice. It is always recommended that you consult with a closing attorney or other qualified professional if you have specific questions or need advice on legal aspects of home buying, offer submission, or any related processes. A closing attorney can provide personalized advice that takes into account your unique circumstances and legal considerations.

I have read and agree the disclaimer

Buyer Guidance Information

At VroomBrick, we want you to have the knowledge to successfully navigate the home buying process without relying on a real estate agent.

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How Much Can I Afford?

Using the VroomBrick platform is a great option for first-time and seasoned homebuyers. With the VA Loan you already have a 0% loan and closing cost are the only fee out of pocket. We make it easier for you to get your closing cost covered by helping you through each step in the homebuying process, starting with understanding how much you can afford.

Evaluate your finances

Before contacting a lender or hunting for a new home, you'll need to evaluate your finances. Purchasing a home may require a mortgage. You don't always need a perfect credit score or a huge down payment, but it is important to understand your finances before starting.

Are you financially ready to buy a home?

First, make sure you:

  1. Determine what's affordable to you
  2. Understand your credit
  3. Review your finances
  4. Save for a down payment

Finding your price range

Before you shop for a home, you need to figure out how much you can afford.

To determine this, you should:

  • Decide what's affordable for you — Examine your monthly budget by looking at your total outgoing expenses and figuring out how much you're spending on housing now. Do you want to keep a similar payment, or can you afford more?
  • Don't forget to include general home ownership costs - these costs include maintenance, homeowner's insurance, property taxes, and possible homeowner's association fees. Also, keep in mind that your utility costs could change if you're moving to a larger home or from a rental property where the landlord covers utilities.

How Much Can I Borrow?

Mortgage financing can seem overwhelming, but VroomBrick will connect you to a loan officer and once you understand a few basics, you'll be ready to move forward.

What is a mortgage?

A mortgage is simply a loan secured by the property you are buying. Many homebuyers, unless they are paying cash for the home, will need a mortgage.

What are the types of loans?

While there are many mortgage loan products, they usually fall into these categories.

Fixed-rate mortgage
The interest rate remains constant for the life of the loan.

Adjustable-rate mortgage
The interest rate can change based on adjustments—either on specific dates (3-, 5-, 7-year adjustments) or market conditions.

Government guaranteed mortgages
Both the Federal Housing Administration (FHA) and Department of Veterans Affairs (VA) offer loans to help homeowners or those who are currently in the military or a veteran.

What's included in my monthly payment?

Your monthly payment covers a part of the amount you borrowed, the interest on the loan, and when a lender escrow is needed, property taxes and home insurance. It may also include mortgage insurance if your down payment is less than 20%.

The funds for taxes and insurance can be held in an escrow account by your mortgage company, who pays them when they are due, or you have the option to pay them on your own. Talk to your lender about your options for the payment of property taxes and insurance.

What is APR?

APR stands for Annual Percentage Rate and includes the interest rate and other fees that will be included over the life of the loan, such as closing costs.

Finding the Right Home

When you buy a house, you're making a long-term commitment to that house and everything that comes along with it. 

Determine Your Priorities

Houses vary in size and layout, location, and design. It’s important to decide what you’re looking for in a house before you start your search.

Size
How many occupants will live in the home? Do you plan on entertaining? Would you prefer a smaller place that is easier to furnish and keep clean? Have minimum and maximum square footage in mind when looking for a home.

Bedrooms
It’s not just the number and size of bedrooms you need to consider, but their location, as well. Is the primary bedroom in a convenient location? Is it on a separate floor from the laundry? If you’re planning on converting one of the bedrooms to a workspace, is it separated from the noisier parts of the home?

Bathrooms
The number of bathrooms is important but also consider the amenities in each. How many showers will you need? Do you need a full bath?

Storage
Consider how much storage you’ll need. Is there additional storage space in the attic? In the basement? Is there enough closet space in each room? Is there room in the garage for a workbench or to store lawn equipment?

Yard
A yard can be a great feature or a great headache. Think about how much outdoor space you want for your home. But be sure to consider the time and cost of maintaining the space.

Flood Risk
No matter where you live, risk of flood exists. Fannie Mae is committed to providing reliable resources to help you learn about your risks and options to protect your home. Learn more.

Things to Consider Outside of the Home

You may have found the perfect home, but real estate is all about location. Make sure to visit the neighborhood before you buy.

Your Commute
What will your everyday commute look like? How much time will it add to your day? Is there public transportation nearby?

Amenities
Are there parks nearby? A community pool? Walking trails? A coffee shop?

Walkability
Can you walk to nearby shopping? Are there well-kept sidewalks or bike lanes?

Schools
What are the local schools? How far are they from your home? Does the local community provide school transportation?

Homeowner’s Association
Does the neighborhood have a homeowner’s association (HOA)? If so, there may be fees associated with the HOA.

Scheduling a Tour

A listing online can only tell you so much. Your VroomBrick market speciliast will help you schedule showings to allow you to visit the property, either in person or virtually, to get a real sense of the home. Here’s what you need to know when scheduling a tour.

Be Prepared

You should be pre-qualified for a loan by a lender of your choosing or one of our VroomBrick lending partners before you schedule a tour. You can learn more about mortgage loans and how to get pre-qualified here.

Store your pre-qualification letter on VroomBrick

Once you’ve received it, you can store it in your VroomBrick account to make the process easier.

Schedule a Tour: Through the VroomBrick Dashboard

There are a couple of ways to set up your tour:

In Person Tour

Contact your market specialist via your dashboard and they will set up a time to visit the home with one of our showing agents. An in person tour allows you to:

  • Experience the home, neighborhood and surrounding area for yourself
  • Gather details about the home that you may not be able to on a video call

Virtual/Video Tour

Contact your market specialist via your dashboard and they will set up a time to view the property over a video call or ask if they have a virtual tour available. A virtual/video tour allows you to:

  • Tour the home and talk to the showing agent to ask any questions you might have about the property.
  • See the home without having to travel or be there in person.

Notify Your VroomBrick professional if you're ready to make an offer:

Let your VroomBrick market specialist  know once you have decided on the home you would like to purchase, you’re ready to make an offer. It will be generated for you using the VroomBrick dashboard. 

Making an Offer

Once you’ve found a home that you want to purchase, it’s time to make an offer. Use our platform and work with your VroomBrick Real Estate Attorney to get the offer typed up on your behalf. If you have any questions about contract specifics our closing attorney can answer them for you.

Prepare Your Information

If you’re going to use mortgage financing to purchase a home, it’s important to speak with your lender before making an offer. Work with them to determine the following information:

Pre-qualification letter

You’ll need to provide your pre-qualification letter shortly after making an offer.

Mortgage loan type, term, and commitment date

Determine which type of loan and term length best fits your needs. Also, speak to your lender about how many days they will need to process your loan before closing.

Offer amount

The total amount you’re offering for the home, including the down payment.

Down payment amount

The percentage of the property’s purchase price that you will pay at closing.

Earnest money deposit

The amount of money you will commit with the contract up front.

Closing and title company

With the VroomBrick platform you are connected to our veteran lead settlement company. 

Make Your Offer

Submit your offer through the VroomBrick offer writing tool

Your VroomBrick market specialist will guide your through the offer writing and will submit the offer on your behalf.

For a transparent homebuying process, register with VroomBrick. Once registered, you can check the status of your offer anytime by logging into your VroomBrick account and viewing your offer dashboard.

Offer Negotiation and Selection

Your offer will be reviewed by our veteran run settlement company once it has been submitted.

If your offer is selected, your VroomBrick market specialist will be asked to finalize details and upload any documents needed.

Once the contract is ratified, it’s time for the closing process.

The Closing Process

You’ve found the perfect place, made an offer, and the seller accepted. Now you’re ready for the final step – closing on your new home.

Use the VroomBrick transaction dashboard to facilitate the rest of the process.

Step by Step

Closing on a home is the process of transferring the property from the seller to the buyer. There’s traditionally a lot of paperwork to sign, and it can seem overwhelming, but we’ve broken down what you need to be ready to close on your home.

Step 1: Deposit Earnest Money

The earnest money for your home needs to be deposited in accordance with the terms of your purchase agreement. This is a deposit that is held in escrow and demonstrates to the buyer that you are serious about purchasing the home. It is usually 1% to 3% of the price of the home.

Step 2: Get a Home Inspection

A home inspector visits the property and examines the condition of the home. They provide home and system evaluations so you can be informed about the property condition before closing. As the buyer, you are responsible for the inspection, but a real estate agent can help you set it up. The home inspection must be performed within 10 days of closing.

Step 3: Get an Appraisal

As the buyer, you also may need to pay for a home appraisal. While a home inspection determines the condition of a home, the appraisal determines its value. Your lender arranges the appraisal—you just have to cover the cost when closing. If the appraisal comes back lower than expected, this may be an opportunity to renegotiate the purchase contract or search for another home.

Step 4: Complete the Loan Application

This is the final step in securing your mortgage loan. You need to supply income statements, tax returns, and other documentation. Then, you need to sign some paperwork. You may be able to complete these tasks online. Ask your lender about your options.

Step 5: Secure the Title

To ensure an insurable title, you need to work with our veteran owned settlement company. They make sure there aren’t any liens or issues with the title.

Step 6: Review the Closing Documents

Once you have a closing date, you receive a closing disclosure that outlines your obligations and closing costs. Review these documents with your title agent.

Step 7: One Last Walkthrough

24 hours before closing, you can do one last walkthrough of the home to make certain everything is in place.

Step 8: Sign Away

It’s finally time to sign the final papers. Double check your interest rate and ensure there aren’t any terms that you don’t understand.

Seller Guidance Information

At VroomBrick, we want you to have the knowledge to successfully navigate the home selling process without relying on a real estate agent.

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Preparing Your Home for Sale

Assessing Your Home's Value

There are many tools online to help determine your home's market value. The most traditional approach is looking at the “comparables” or “comps” for your home. This involves looking at active, pending, and sold homes of similar size and characteristics to your home. Some people will order a pre-listing appraisal to get a precise value of their home. Talk to your VroomBrick market specialist about what is right for you.

Preparing Your Home

Ensure your home is in the best possible condition. This might include making repairs, decluttering, or staging the house to make it appealing to potential buyers.

Financial Preparation: Choosing the Right Selling Strategy

Understand the costs involved in selling

You’re already saving by using the VroomBrick platform to sell (see Pricing tab) but it’s important to understand how other external factors affect your bottom line:

  1. What is the payoff amount for your mortgage?
  2. Will you offer the buyer’s agent commission?
  3. Understand closing cost associated with city/county taxes, title search, potential seller concessions that a buyer may ask for
  4. Ask your VroomBrick market specialist for a “net seller sheet” to determine how much you will profit.

Retain Equity with VroomBrick

We understand that many people have the majority of their net worth in their homes. We help you profit more and retain more net worth by optimizing the selling process for you through our tech-enabled dashboard  

Marketing Your Home

Listing Your Home

Our goal at VroomBrick is to get the maximum number of eyes on your home. We do this by creating an attractive and accurate listing and listing it on your local MLS and syndicating it to all the other online home search platforms.

Setting the Right Price

Based on the earlier assessment, set a competitive price that reflects your home's value and current market conditions.

Showing Your Home

Scheduling Showings

Notifications for showing request will be sent via the VroomBrick platform through your preferred contact method. Make sure the house is clean and tidy for each showing.

Leave the property 10-15 minutes prior to when the showing is scheduled to give the buyer some privacy and space to view the home.

Hosting Virtual Tours

In the current digital age, offering virtual tours can widen your potential buyer base.

Being Flexible

Be prepared to accommodate potential buyers' schedules. 

P.s. make sure the house smells good! Light a candle an hour prior to the showing or use an air freshener

Negotiating and Accepting an Offer

Review Offers

Evaluate each offer carefully or have our closing attorney go over terms with you. Look beyond the price; consider the buyer's financial stability and any contingencies.

Keep in mind contingencies

Think of a contingency like an escape clause for one party. Check out our “Offer Simulator” tool in the knowledge center to learn more about contingencies. Contingencies include:

  • Home inspection contingency
  • Appraisal contingency
  • Termite and moisture contingency
  • Financing contingency
  • Contingent upon sale of another home

Negotiating

Engage in negotiations with potential buyers to reach a mutually beneficial agreement.

Accepting an Offer

Once you agree on terms, formally accept or “ratify” the offer and move towards closing the sale.

The Closing Process

Finalizing the Sale

The VroomBrick dashboard will facilitate the rest of your sale process and our closing attorney will make sure you complete all necessary paperwork and meet all legal requirements for selling your property.

Moving Out

Plan your move, ensuring you leave the home in the agreed-upon condition.

Closing Day

Attend the closing appointment, where you'll sign the final documents, hand over the keys, and officially sell your property.

Home Inspection Step by Step Process

Buyers Edition

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General Knowledge

What is a home inspection?

A home inspection is a service provided at the expense of the buyer where a qualified licensed specialist comes to assess the overall quality of the home in its entirety.  After the home inspection is conducted a full summary of the report will be given to the buyer.

Do I need a home inspection?

A home inspection is not needed however it is encouraged to get one as it will let you know the condition of the home. The inspection allows you to request repairs if any are needed before moving forward with the transaction.

What are my home inspection contingency options on my contract? 

  • Normal inspection contingency
  • For info only
  • For info only with the exclusion of major systems.
  • As is
  • Waived
  • (Please check offer simulator)

Who orders the home inspection?

It is the responsibility of the buyer to order the home inspection after contract ratification.

Can I Inspect the home myself?

A home inspection must be conducted by a qualified and licensed home inspector. If you wish to conduct a home inspection yourself, the seller may be less likely to consider your repair requests. 

At what point during the Home buying process does the home inspection take place?

Your contract will have a due diligence period specified. Generally, it will happen in the first week.

Pricing & Eligibility

How much does the Home inspection generally cost?

It depends on the square footage and age of home. General pricing is anywhere from $400-$600

Is the home inspection part of my closing cost or paid out of pocket?

It is paid out of pocket prior to closing.

Are there any discounts?

Some Companies may provide discounts for Military, First Responders, and Senior citizens.

How eligible and Qualified are the Home Inspectors?

Home inspectors typically train for several months to a few years to become qualified and eligible. This training often includes a combination of classroom education, field experience, and passing a certification exam, depending on the requirements of the specific state or region.

How do I choose the best home inspection company for me?

Buyers will generally “shop around” for the inspection company which best fits their needs such as prices, good reviews, discounts, etc.

My Duties

How long is the Home inspection?

It typically takes 1-2 hours depending on square footage. 1,000 SQ FT per hour

Do I need to attend the Home Inspection?

You are not required to as the inspector will provide you with a full report once the inspection is completed. There are benefits to being present such as asking the home inspector questions about the quality of the home.

What are the main items in a home that I should be looking for during the home inspection? 

General buyer’s concerns consist of: Major systems (Water heater, Appliances, structural defects, Electrical issues, Moisture intrusions.

What if the report summary reveals problems with the home? What are my options?

If one of your deal breakers comes up as an issue in the inspection it should be addressed and repairs from the seller are typically requested.

What if I want everything fixed, even the little things?

Inspectors rarely find a perfect home even if it’s a new construction. Generally, buyers will look to fix little items down the line and focus on their deal breakers. You’re welcome to ask for any repairs however the seller is not required to agree to them. 

How do I ask for repairs?

After the home inspection you will receive a full inspection report. Once obtained go to your VroomBrick dashboard where you will find the Home inspection repair sheet. Proceed to follow the detailed instructions on how to request your repairs. 

How will I know the potential cost of the repairs?

Generally buyers ask a certified contractor for an estimate on the repairs.

When will the repairs that I asked for be completed? 

Generally the requested repairs must be completed prior to the final walkthrough

(The final walkthrough takes place 1 day prior to the closing date)

Who is responsible for making the repairs? How qualified are they?

The repairer is typically licensed and experienced in their craft. Repairs from unlicensed individuals or teams must be agreed upon by both pirates.

How do I know my repairs are being completed?

You will be updated throughout the transaction on repairs along with pictures and invoices

When do I get to see if the repairs I requested are done?

You will also be able to see the home and check the repairs yourself one day prior to closing at the Final Walkthrough.

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VroomBrick’s mission is to democratize the home buying process. We aim to make homeownership more accessible by lowering the barriers to knowledge and removing unnecessary fees for buyers.

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