Redfin Home Buying Class

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

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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!

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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.