HOME BUYING WEBINAR
PRESENTED BY AMY BASILE
MEET AMY
Amy Basile
Redfin Agent
• 21 Redfin buyers & sellers
• 5.0 star rating (24 reviews)
ABOUT REDFIN
On Your Side
Your Redfin Agent guides you
through each step and is
accountable to get you the right
home — no...
1. Local Real Estate Trends
2. Home-Buying Process
3. Finance Your Home
4. Conclusion
AGENDA
1
LOCAL REAL ESTATE TRENDS
LOOK UP YOUR
LOCAL STATS!
•Search redfin.com for your city, neighborhood, or ZIP
code to find the most current real estate...
TRENDING: BIDDING WARS
2
HOME BUYING PROCESS
• Rent vs. own
• Length of ownership
• Life changes (family, job)
• Personal finances
BEFORE YOU BUY
OVERVIEW OF THE
HOME-BUYING
PROCESS
Research
Search for Homes
1
2
Finance Your Home3
Make Your Offer4
Closing Process5
RESEARCH
• Home wish list
• Location & neighborhoods
• Mortgage loans & pre-approval
• Real estate agents & reviews
1
SEARCH FOR HOMES
• Create a wish list for home features
• Check out open houses
• See homes in person on home tours
• Save...
21
SEE HOMES IN PERSON
3
FINANCE YOUR HOME
TYPES OF
LOANS
Conventional:
• As low as 5% down
• Fixed or adjustable rates, conforming
or non-conforming
Federal Housing...
LATEST MORTGAGE RATES
Type of Loan December 10th, 2015 November 12th, 2015
30-Year Fixed 3.95% 3.98%
15-Year Fixed 3.19% 3...
GETTING PRE-APPROVED
Income
• Salary — Past 30 days
• Hourly — Consistency & History
• Self Employed — Two-year average
As...
MAKE YOUR OFFER
• Pricing & comparables
• Common contingencies
• Inspection
• Appraisal
• Financing
• Negotiations
• Mutua...
CLOSING PROCESS
• Deposit your $$
• Apply for financing
• Conduct inspection
• Wait for appraisal
• Conduct a “walk-throug...
THE CLOSING
PROCESS*
*Steps in closing process can
vary by market — ask your
agent for greater detail about
closing in you...
CONGRATULATIONS!
YOU BOUGHT A HOME!
4
RECAP
HOME BUYING
TIMELINE*
*Steps in the home buying or
selling process can vary by
market — ask your agent for
greater detail ...
Explore our online tools,
including the Redfin Home Affordability
Calculator to find out how much home you can
afford, and...
THANK YOU
FOR COMING!
AMY BASILE
amy.basile@redfin.com
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Nassua County Webinar

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Published on: Mar 3, 2016
Published in: Real Estate      
Source: www.slideshare.net


Transcripts - Nassua County Webinar

  • 1. HOME BUYING WEBINAR PRESENTED BY AMY BASILE
  • 2. MEET AMY Amy Basile Redfin Agent • 21 Redfin buyers & sellers • 5.0 star rating (24 reviews)
  • 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. Conclusion AGENDA
  • 5. 1 LOCAL REAL ESTATE TRENDS
  • 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
  • 7. TRENDING: BIDDING WARS
  • 8. 2 HOME BUYING PROCESS
  • 9. • Rent vs. own • Length of ownership • Life changes (family, job) • Personal finances BEFORE YOU BUY
  • 10. OVERVIEW OF THE HOME-BUYING PROCESS Research Search for Homes 1 2 Finance Your Home3 Make Your Offer4 Closing Process5
  • 11. RESEARCH • Home wish list • Location & neighborhoods • Mortgage loans & pre-approval • Real estate agents & reviews 1
  • 12. 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
  • 13. 21 SEE HOMES IN PERSON
  • 14. 3 FINANCE YOUR HOME
  • 15. 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
  • 16. LATEST MORTGAGE RATES Type of Loan December 10th, 2015 November 12th, 2015 30-Year Fixed 3.95% 3.98% 15-Year Fixed 3.19% 3.20% 5/1 ARM 3.03% 3.03% 1-Year ARM 2.65% 2.65%
  • 17. 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
  • 18. MAKE YOUR OFFER • Pricing & comparables • Common contingencies • Inspection • Appraisal • Financing • Negotiations • Mutual acceptance 4
  • 19. CLOSING PROCESS • Deposit your $$ • Apply for financing • Conduct inspection • Wait for appraisal • Conduct a “walk-through” • Closing! (when you get keys!) 5
  • 20. THE CLOSING PROCESS* *Steps in closing process can vary by market — ask your agent for greater detail about closing in your market. 6 7 8 Your attorney orders a title search (within 5–10 days of mutual acceptance). This takes about 14 days and may reveal issues that delay closing. Lender orders appraisal (within 5–10 days of mutual acceptance). Your attorney reviews the title, lien, and survey searches. Receive commitment letter from your lender within 14 days, with conditions to be met. 9 11 10 12 13 Lender’s attorney reviews results of all searches and grants your loan commitment with conditions met. Your attorney removes finance contingency and informs seller’s attorney. Your attorney clears the home’s title & issues the title commitment. Take your final walkthrough to look for any more issues since the inspection. 14 15 16 17 Sign all of the paperwork at your closing appointment. 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. Your agent schedules a home inspection & sends the memorandum of sale to the attorney. Complete home inspections within 2–3 days. Execute the contract & submit your deposit. If you weren’t pre- approved for a loan, apply for a mortgage (within 5–7 days of mutual acceptance). 1 2 3 4 5
  • 21. CONGRATULATIONS! YOU BOUGHT A HOME!
  • 22. 4 RECAP
  • 23. 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. Mutual acceptance. Congratulations! Your agent schedules a home inspection and sends the memorandum of sale to the attorney. 1 2 3 4 5 6 7 8 11 10 Complete home inspections within 2–3 days. Meet with your attorney to sign the contract. Submit your deposit. If you weren’t pre- approved for a loan, apply for a mortgage (within 5–7 days of mutual acceptance). Your attorney orders a title search (within 5-10 days of mutual acceptance). This takes about 14 days and may reveal issues that delay closing. Lender orders appraisal (within 5–10 days of mutual acceptance). 9 12 13 14 Your attorney reviews the title, lien, and survey searches. Receive commitment letter from your lender within 14 days, with conditions to be met Lender’s attorney reviews results of all searches and grants your loan commitment with conditions met. Your attorney removes finance contingency and informs seller’s attorney. Your attorney clears the home’s title & issues the title commitment. Lender’s attorney schedules a closing date. 15 16 17 18 19 20 Take your final walkthrough to look for any issues since inspection. Sign all of the paperwork at your closing appointment. Receive your Redfin commission refund (may be applied to closing costs). Receive your keys, take possession & get moving! Complete the Redfin survey for your agent. 21 22 23 24 25 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!
  • 24. 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
  • 25. THANK YOU FOR COMING! AMY BASILE amy.basile@redfin.com

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