WELCOME & THANK YOU

I could not be more grateful that you chose Danberry, myself in particular, to help you find your home! 

This is a BIG decision. From determining the right size for your family and future to understanding the different types of lenders and financing - finding the right place for your lifestyle can be overwhelming. 

That’s why I’ve compiled this list of steps to help guide you through the home-buying process. I’m here to minimize stress and to arm you with relevant information so you can make an informed decision that’s best for you and yours. This page is a brief overview of what we will go over in our consultation.

BEGIN SEARCH

Once your financing is secured, we are ready to go shopping! I will walk you through the process for different types of listings and provide guidelines and tips to ensure an efficient and positive home search experience. We'll discuss your preferences and lifestyle to help you prioritize your search criteria and location. Some resources can help you learn about potential areas below. Additional resources can be found on the resources page.

LOCATION RESOURCES

  • SCHOOLS

    Whether you have kids, want kids, love kids, or hate kids, school districts can still impact your home value and living area.  Great Schools and Niche are two resources to help educate you on the schools in your area so you can decide how to incorporate them into your home search. More info and links can be found on the resources page.

  • SAFETY

    Evaluating the safety of your potential neighborhood takes some research.  You can get a feel for a town’s safety by talking with current residents in the neighborhood and driving around at different times on different days.  You can join local groups on social media to find out more about the day to day in the community.  You can also research crime using resources like Spot Crime and Neighborhood Scout. To research sex offenders in the area you can use Family Watch Dog. More info and links can be found on the resources page.

FIND YOUR HOME & MAKE AN OFFER

When you are ready, I will write and offer on your behalf, including terms and conditions that protect your best interests. I will explain the components and contingencies and provide options and alternatives for each part of the contract. The seller will have an allowed time, usually 24-48 hours, to respond to your offer.

  • EARNEST MONEY DEPOSIT

    When both parties accept and sign a contract, you will have to pay an earnest money deposit, typically within 48 hours. This money indicates to the seller that you’re serious about your offer. Earnest deposits vary but are typically 1%-3% of the purchase price. The higher the deposit, the more serious you will look to the seller. This deposit is generally paid to the title company and is credited back to you at closing. If the deal falls through due to a contingency on the contract, the buyer typically gets their earnest money back.

APPLY FOR MORTGAGE

While a pre-approval will get you to this point, you’ll still have to apply and meet your lender’s underwriting standards to secure financing.Your lender will walk you through the mortgage application process and request the necessary documents to verify your income and assets.

INSPECTION

10 - 20 DAYS

You will hire your inspector to find any defects with the property. They will give you a report detailing any problems encountered and may also recommend hiring additional professionals to inspect specific issues. (Structural engineer/plumber, etc.) Using this report, you may devise a list of things you'd like to be addressed by the seller, who will have five days to respond with what will be fixed and what will remain the same. I will help you with this negotiation. 

APPRAISAL

Your lender needs to ensure the house is valuable enough to be collateral for your loan. The appraisal, ordered by the lender, establishes the home's value and ensures it is suitable collateral.

We will move forward if the home appraises at or above the offer (it is worth enough). If the house appraises lower (it's worth less than the loan amount), your lender won't loan you the money for that house. In this case, you'll have to get the owner to lower the price, pay the difference in cash, or terminate the contract.

MORTGAGE COMMITMENT

30-60 DAYS

A mortgage commitment is a written agreement between a lender and a borrower. The lender commits to lend the borrower a specific amount of money to purchase a home or property after the borrower has completed the mortgage application and the underwriting process.

The mortgage commitment specifies the terms and conditions of the loan, including the interest rate, repayment schedule, and any fees or charges associated with the loan. It also typically includes any requirements that must be met before the loan can be funded, such as providing additional documentation or completing repairs on the property.

Once both parties have signed the mortgage commitment, the borrower is typically obligated to proceed with the purchase of the property and to obtain the necessary funds to close the transaction. The lender, in turn, is obligated to provide the agreed-upon funds at the agreed-upon terms and conditions.

YOU'RE ALL SETTLED UP, TIME TO SETTLE IN!

READY TO GET STARTED?