3. ABOUT REDFIN
On Your Side
Your Redfin Agent guides you
through each step and is
accountable to get you the right
home — not just any home.
Smarter & Faster
Move quickly and confidently with
our easy online tools and the most
complete and accurate home sales
data available.
You Get More
Get full service and better results
while saving thousands in fees.
100% Team Support
You’ll work with a team of real estate
pros, so there’s always someone
ready to help.
A better way to buy & sell
4. 1. Local Real Estate Trends
2. Home Buying Process
3. Finance Your Home
4. Recap
AGENDA
6. LOOK UP YOUR
LOCAL STATS!
• Search redfin.com for your city, neighborhood,
or ZIP code to find the most current real estate
statistics
• Updated every 15–30 minutes
11. • Rent vs. own
• Length of ownership
• Life changes (family, job)
• Personal finances
BEFORE YOU BUY
12. OVERVIEW OF THE
HOME BUYING
PROCESS
Research
Search for Homes
1
2
Finance Your Home3
Make Your Offer4
Closing Process5
13. RESEARCH
• Home wish list
• Location & neighborhoods
• Mortgage loans & pre-approval
• Real estate agents & reviews
1
14. SEARCH FOR HOMES
• Create a wish list for home features
• Check out open houses
• See homes in person on home tours
• Save searches on Redfin and get notifications
via email and the Redfin app
2
17. 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
18. LATEST MORTGAGE RATES
Type of Loan April 21st, 2016 April 28th, 2016
30-Year Fixed 3.59% 3.66%
15-Year Fixed 2.85% 2.89%
5/1 ARM 2.81% 2.86%
19. 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
20. MAKE YOUR OFFER
• Pricing & comparables
• Common contingencies
• Negotiations
• Mutual acceptance
4
21. THE CLOSING
PROCESS*
*Steps in the closing process
can vary by market — ask
your agent for more details
about closing in your market.
5
6
7
8
Schedule a professional
home inspection. Your
agent will have
recommendations.
Select your lender and
submit your loan within
three days of mutual
acceptance.
Take your final walk-
through to look for any
more issues since the
inspection.
Sign all of the paperwork
at your closing
appointment.
10
9
11
Receive your keys,
take possession,
and get moving!
Receive your Redfin
commission refund (may
be applied to closing
costs).
Complete the Redfin
survey for your agent.
You’ve found the house you want and submitted an
offer that was accepted by the seller. From this point
forward, every step brings you closer to home
ownership. Some deadlines can arrive quickly, so
make sure to have your ducks in a row for what
comes next.
Success! The seller has
agreed with your price &
terms — you’ve achieved
mutual acceptance.
Deposit your earnest money
to prove you’re serious
about the offer.
The seller will disclose any
known problems with the
property.
Your title company will
review the ownership history
and title for liens,
encroachments, and
easements.
1
2
3
4
24. HOME BUYING
TIMELINE*
*Steps in the home buying or
selling process can vary by
market — ask your agent for
greater detail about the steps
of buying or selling in your
market.
Search for homes on
redfin.com or the Redfin
app for iPad, iPhone,
or Android.
Find a real estate agent.
Tour homes with your
agent.
Get pre-approved for a
home loan.
Find your dream home.
Consult your agent to make
an offer.
Your agent negotiates the
deal with the seller’s agent.
You’ve reached mutual
acceptance. Congratulations!
1
2
3
4
5
6
7
8
Deposit your earnest
money to prove you’re
serious about the offer.
The seller will disclose
any known problems with
the property.
Your title company will
review the ownership
history and title for liens,
encroachments, and
easements.
Schedule a professional
home inspection. Your
agent will have
recommendations.
Select your lender and
submit your loan within
three days of mutual
acceptance.
11
10
9
12
13
Take your final walk-
through to look for any
issues since inspection.
Sign all of the paperwork
at your closing
appointment.
Receive your keys, take
possession & get
moving!
Receive your Redfin
commission refund (may
be applied to closing
costs).
Complete the Redfin
survey for your agent.
14
15
16
17
18
The road to buying a home usually starts with an
online search and ends the moment your agent
hands over the keys to your new house. It may
seem daunting, but you can do it!
25. Explore our online tools,
including the Redfin Home Affordability Calculator
to find out how much home you can afford, and
the Redfin Home Value Tool to see how much
your home is worth.
Take Redfin with you:
Download the Redfin real estate app for iPhone,
iPad, and Android.
Claim your home
on Redfin and receive monthly home reports.
Sell your home:
Homes 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 classes,
including market trends, mortgages, home selling
classes, and more at redfin.com/events.
GET MORE
FROM REDFIN
