Transcript
Home Buying Class
About RedfinA Better Way to Buy & Sell
On Your SideRedfin agents are paid a salary and results of a survey each customer on our service and pay a bonus based on the review.
Smarter & FasterOur technology makes home tours, listing debuts, the escrow process, faster easier and worry-free.
You Get MoreCustomers save thousands due to our commission refunds and lower listings fees for full-service representation
100% Team SupportWe accommodate to your schedule by working with a team to tour homes and work on transactions.
Local Real Estate Trends1
Home Buying Process2
Finance Your Home3
The Closing Process4
Agenda
Break!
Local Real Estate Trends
Median Sale Price • Compare neighborhoods at the Redfin Data Center: redfin.com/blog/data-center
• Updated every 15–30 minutes
Compare neighborhoods at the Redfin Data Center: redfin.com/blog/data-center
Search for median sale price, days on market and other real estate statistics.
Home Buying Process
Before You Buy
• Rent vs. own• Length of ownership• Life changes
(family, job)• Personal finances
Research1
Search for Homes2
Make Your Offer4
Closing Process5
Overview of the Home Buying Process
Finance Your Home3
Research
• Mortgage loans & pre-approval
• Home wish list• Location &
neighborhoods• Real estate agents &
reviews
Search for Homes
• Wish list for home features, # of bedrooms, etc.
• Check out open houses
• Save Searches on Redfin mobile app & redfin.com
• See homes in person with Book it Now on Redfin mobile.
How to Navigate Home Listings on Redfin
• Schedule a tour, agent review, number of beds/baths, favorite or x-out a home
Touring Homes is Simple with Book It Now
1 2 3 4
Break!
1 2Try book it now! Get an edge and set up Saved Searches for the neighborhoods and homes you’re searching for
Refill your drinks, stretch your legs & check out our mobile tools!
Finance Your Home
Choosing a Lender
Redfin Open Book• Shows customer
ratings of local lenders
• Select your city in the dropdown on the right side
• Choosing a local lender vs. someone out of state
Redfin.com/openbook
Getting Pre-Approved
Income• Salary — Past 30 days• Hourly — Consistency & History• Self Employed — Two-year average
Assets•Down Payment•Closing Costs•Cash Reserves
Credit• 640 for FHA• 680 for Conventional• 720 for Rate Improvement
Types of Loans
Conventional:• As low as 5% down• Fixed or adjustable rates, conforming or
non-conforming
Federal Housing Administration Loan (FHA):• Always have mortgage insurance• Buyers need only a 3.5% down payment
Jumbo Loan:• Larger down payment required• More restrictive debt-to-income ratios
VA Guaranteed Loan:• Veterans, active duty personnel,
reservists/national guard, surviving spouses
• No down payment
Make Your Offer
• Pricing & comparables
• Common contingencies
• Negotiations• Mutual acceptance
The Closing Process
The Closing ProcessYour offer is accepted,now what?
Deposit Earnest MoneyThis shows the seller you are serious about your offer
Title / AttorneyYour title company or attorney will review the ownership history and title for liens, encroachments and easements
Inspection / FinanceSchedule a professional home inspection and have your lender submit your loan paperwork.
Sign PaperworkTake your final walkthrough of the home then sign paperwork at your closing appointment
Accept keys, Redfin Refund!Your refund may be used towards closing costs. Don’t forget to fill out your survey!
1
2
4
5
3
Congratulations! You Bought a Home!
Get MoreFrom Redfin
Explore our online tools,
Redfin Home Affordability Calculator, Redfin Home Valey Tool, Book it Now
Take Redfin with youDownload the Redfin real estate app for iPhone, iPad, and Android.
Sell your homeHomes listed with Redfin are viewed three times as often as other homes and sell for $5,100 more on average — for only a 1.5% listing fee.
Check out more classesIncluding market trends, mortgages, home selling classes, and more at redfin.com/events.
top related