Redfin Home Buying Class
Southeast LA Team
March 20, Claremont, CA
Host: Anne Ku & Eric Tan
@Redfin
facebook.com/Redfin
Anne Ku – Senior Agent Southeast LA
● Agent for 10 years
● Closed 60 homes
● Specialize in: East San Gabriel
Valley
 Meet...
Eric Tan – Listing Agent San Gabriel Valley
● Real Estate Attorney and
Broker for 6 years
● Sold 95 homes
 Meet my team!
Agenda
● Overview of the process
● Are you ready to buy?
● Understanding the market
● Never miss a home
● Choosing an agen...
A Little Bit About Who We Are
Redfin is a real estate brokerage that has helped over 20,000
people buy or sell a home; 97%...
Understanding the Buying
Process
Are You Ready to Buy?
● Do you have a family and need room to grow?
● Do you expect to own the home for 5 or more years?
●...
Overview of a Purchase
Research
Neighborhoods
Real Estate Agents
Mortgage Options
Preapproval
Consider your needs
Search
D...
Understanding the
Market
Claremont Inventory
Story of 2013: Rising Prices
Claremont, CA
Mortgages
Local Recommended Lenders
In no way does
Redfin benefit
financially from
recommending
lenders – we
just think they’re
grea...
Get Pre-Approved Early
A pre-approval letter is a letter from a bank or a lender estimating how
much they'll lend you (May...
Review Your Financial Situation
● Pull credit report, look for errors
● Establish comfort level for monthly payment
● Figu...
Pulling Credit: Is it harmful?
● Your credit report must be reviewed by a lender before you
can obtain a pre-approval
● If...
Non Traditional Loan Programs!!!
Last Month on Rate Watch
A little bit of information on how rates work.
Express Loan Program
How It Works:
● Step 1: Certified Lender takes you through the underwriting process.
This usually hap...
Never Miss A Home
Real Estate Sites: What to Look For
● Has all the homes for sale
● Updated every 15 minutes
● Real-time sales data
● Insig...
Never Miss a Home
Choosing the Right Agent
What to Ask Any Agent
● Is this your full-time job?
● Where were your last five deals?
● Who else will be working with me?...
Redfin Agent Reviews
Save $4,000 on Average
Seeing Homes in Person
Making the Most of Your Tour
1. Bring a camera, notebook & tape measure
2. See how much sunlight the place gets
3. Check t...
Real Estate Sites: What to Look For
● Has all the homes for sale
● Updated every 15 minutes
● Real-time sales data
● Insig...
Slide 31 of 55
How Seeing Homes with Redfin
Works
● Agent or Associate Agent
● Up to six homes per tour in
two hour blocks...
Selling Your Home
with Redfin
● We’re on your side
► Agents paid on your satisfaction
● Double your exposure
► Premium placement on Redfin
► Zillow, Tru...
Redfin Price Tracker
So What Now?
● Make sure it’s the right time for you
● Check out our Home Buying Guide
● Find the right agent
● Look for a local lender...
All Done!
Thanks for Coming!
Questions? Get in touch:
Anne Ku – anne.ku@redfin.com
Eric Tan, Esq. – eric.tan@redfin.com
Check out ou...
Future Events!
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Redfin Free Home Buying Class - Claremont, CA

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  • [REQUIRED – please add the main presenter’s photos]
  • [REQUIRED – Updated every time]
  • [REQUIRED – Updated every time]
  • [REQUIRED – Updated every time]Agents should use this slide to talk about what they’re seeing on the streetTell some stories!
  • [REQUIRED]Add Lender’s name if he/she’s presenting
  • [REQUIRED – Update with local lender]
  • [REQUIRED]
  • [REQUIRED]
  • [REQUIRED]
  • [REQUIRED]
  • [REQUIRED]Add visual
  • [REQUIRED – Update with local home in the $400-$500 range, ideally listed by Redfin]Talking points:- Refund is based on your list price not offer price.- You’ll get it as a closing credit or check after close, depending on your lender
  • [REQUIRED]
  • [REQUIRED]
  • Notes from Matt:- Update this slide so it is easier to read
  • We’ll stick around…
  • Redfin Free Home Buying Class - Claremont, CA

    1. 1. Redfin Home Buying Class Southeast LA Team March 20, Claremont, CA Host: Anne Ku & Eric Tan @Redfin facebook.com/Redfin
    2. 2. Anne Ku – Senior Agent Southeast LA ● Agent for 10 years ● Closed 60 homes ● Specialize in: East San Gabriel Valley  Meet my team!
    3. 3. Eric Tan – Listing Agent San Gabriel Valley ● Real Estate Attorney and Broker for 6 years ● Sold 95 homes  Meet my team!
    4. 4. Agenda ● Overview of the process ● Are you ready to buy? ● Understanding the market ● Never miss a home ● Choosing an agent ● Touring ● Mortgages ● Break! ● Short sales & foreclosures ● Making an offer ● Acceptance to closing
    5. 5. A Little Bit About Who We Are Redfin is a real estate brokerage that has helped over 20,000 people buy or sell a home; 97% would refer us to a friend. ● Customers, not commissions ● Informed decisions ● Right home for the right price  No obligation  Commission credit
    6. 6. Understanding the Buying Process
    7. 7. Are You Ready to Buy? ● Do you have a family and need room to grow? ● Do you expect to own the home for 5 or more years? ● Have you saved up a down payment? ● Can you rent for less?
    8. 8. Overview of a Purchase Research Neighborhoods Real Estate Agents Mortgage Options Preapproval Consider your needs Search Define Preferences Saved Search Home Tours Open Houses Offer Comparables Draft Offer Docs Negotiate Mutual Acceptance Closing Earnest Money Inspection Loan application Title Review Appraisal Financing Approval Closing
    9. 9. Understanding the Market
    10. 10. Claremont Inventory
    11. 11. Story of 2013: Rising Prices
    12. 12. Claremont, CA
    13. 13. Mortgages
    14. 14. Local Recommended Lenders In no way does Redfin benefit financially from recommending lenders – we just think they’re great lenders!
    15. 15. Get Pre-Approved Early A pre-approval letter is a letter from a bank or a lender estimating how much they'll lend you (May vary from what you want to pay monthly) ● Establishes what you can afford & makes offer process go faster ● Redfin asks that you get pre-approved before your third tour ● Good for 90 days, depending on lender (Credit reports are good for 90 days) Info needed: ● W-2’s, 2 years tax returns (with all schedules, K-1’s etc) 1 month of pay-stubs, asset statements (Show all funds used to close loan) Drivers License, If you own a home or homes, need mortgage, tax, and insurance information
    16. 16. Review Your Financial Situation ● Pull credit report, look for errors ● Establish comfort level for monthly payment ● Figure out how much monthly income goes towards debt: 28 – 33% healthy 45% Max Conventional, 57.9% Max FHA ● Pay down credit balances to 1/3rd ● Don’t open any new lines of credit ● Don’t buy any big ticket items ● Source of money ● Current employment status
    17. 17. Pulling Credit: Is it harmful? ● Your credit report must be reviewed by a lender before you can obtain a pre-approval ● If you know your score, a lender should be able to give you ballpark pricing for their loan products ● Don’t allow lots of lenders to pull your credit score repeatedly ● Pull a free credit report. One of the best is www.annualcreditreport.com
    18. 18. Non Traditional Loan Programs!!!
    19. 19. Last Month on Rate Watch A little bit of information on how rates work.
    20. 20. Express Loan Program How It Works: ● Step 1: Certified Lender takes you through the underwriting process. This usually happens in your first 10-14 days of escrow. You will need to submit all your financial and other documentation to the lender. Once you have full underwriter approval, it indicates to the seller that pending a clean title and appraisal, your lender is ready to fund the loan. ● Step 2 : Your offer is made with terms that most, if any, other buyers financing their home can compete with. ● Step 3 : Upon opening escrow your appraisal will be ordered as a rush. This is a $100 fee which is covered by your Certified Lender. ● Step 4 : Upon a clear title and appraisal at or above the purchase price, escrow closes in 21 days or less. Get Started Right Away!
    21. 21. Never Miss A Home
    22. 22. Real Estate Sites: What to Look For ● Has all the homes for sale ● Updated every 15 minutes ● Real-time sales data ● Insights from agents ● Lots of data ● Mobile apps
    23. 23. Never Miss a Home
    24. 24. Choosing the Right Agent
    25. 25. What to Ask Any Agent ● Is this your full-time job? ● Where were your last five deals? ● Who else will be working with me? ● When am I committed to working with you? ● Has a client ever filed a compliant? ● How are you paid? ● Can I see some reviews of your work?
    26. 26. Redfin Agent Reviews
    27. 27. Save $4,000 on Average
    28. 28. Seeing Homes in Person
    29. 29. Making the Most of Your Tour 1. Bring a camera, notebook & tape measure 2. See how much sunlight the place gets 3. Check the bathrooms for rot & mold 4. Look for wavy or discolored wood siding 5. Make sure water spouts drain away from house 6. Take stock of storage space 7. Turn off any music playing in house 8. Check for hardwood floors 9. Peek into the attic 10. Bring a marble or two 11. When sharing a wall, make sure it’s thick 12. Ignore the appliances and carpets 13. Check the closets 14. Get the disclosure packet 15. Compare the property’s tax records to the listing details
    30. 30. Real Estate Sites: What to Look For ● Has all the homes for sale ● Updated every 15 minutes ● Real-time sales data ● Insights from agents ● Lots of data ● Mobile apps
    31. 31. Slide 31 of 55 How Seeing Homes with Redfin Works ● Agent or Associate Agent ● Up to six homes per tour in two hour blocks ● Unlimited – see as many homes as it takes! ● No pressure
    32. 32. Selling Your Home with Redfin
    33. 33. ● We’re on your side ► Agents paid on your satisfaction ● Double your exposure ► Premium placement on Redfin ► Zillow, Trulia, Craigslist and Realtor ● 1.5% listing fee ► Professional photos ► Beautiful flyers We’ve helped over 50 people sell their homes in the last six months. Better Service, Lower Fees
    34. 34. Redfin Price Tracker
    35. 35. So What Now?
    36. 36. ● Make sure it’s the right time for you ● Check out our Home Buying Guide ● Find the right agent ● Look for a local lender and get pre-approved ● Start seeing homes in person ● Make an offer & close the deal
    37. 37. All Done!
    38. 38. Thanks for Coming! Questions? Get in touch: Anne Ku – anne.ku@redfin.com Eric Tan, Esq. – eric.tan@redfin.com Check out our upcoming classes: http://www.redfin.com/events Craig Huston Banc Home Loans chuston@banchomeloans.com www.chuston.banchomeloans.com 909.936.2885
    39. 39. Future Events!

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