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Home Buying ClassPresented by Joseph “Butch” Wahlsmith
Meet Joseph “Mr. Butch” WahlsmithButch has been a Columbus resident since 1986 and in residential real-estate for 16 years. Butch began his new real estate career in new home and condo sales for MI Homes and later, Schottenstein Real Estate Group. In 2009 Butch was recruited by HER Realtors as an area sales leader and quickly moved into developer account management (2008-2012) working with Michael Mahon. During this time he was being mentored by Michael and later promoted to General Manager and then, Vice President of HER Realtors, Builder Division.
About RedfinA Better Way to Buy & Sell
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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
Days On Market • Compare neighborhoods at the Redfin Data Center: redfin.com/blog/data-center
• Updated every 15–30 minutes
Sale to List Percentage• Compare neighborhoods at the Redfin Data Center: redfin.com/blog/data-center
• Updated every 15–30 minutes
Percent Sold Above Asking• Compare neighborhoods at the Redfin Data Center: redfin.com/blog/data-center
• Updated every 15–30 minutes
Be Prepared to Compete! Competing Against Multiple Offers
• In a hot real estate market, a home can receive multiple offers within hours of being listed for sale.
• When inventory is low and buyer demand is high, there’s often an increase in multiple-offer situations.
• Check out the top tactics Redfin Agents to give you an edge over the Competition.
Be Prepared to Compete 5 Tips for Winning a Bidding War
• Stay one step ahead of other homebuyers.
• Get pre-approved with a local lender & get underwriter approval.
• Start the conversation early.
• Write a letter & appeal to the seller.
• Know your limits.
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
Meet Brian
Brian has been involved in mortgage lending for the last 15 years. Moving to a Community Bank in 2008 put him in the best position to help all of his customers for the long term. First Financial Bank offers all conforming loans, FHA, VA, and OHFA grants and seconds. In addition they have portfolio products which include construction and rehab loans.
Brian Hitchcock
First Financial Bank
Residential Mortgage Lending
547 High Street, Worthington OH 43085
614-260-5537
Apply at www.614-260-5537.com
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
Mortgage Rates
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 Value Tool, Book it Now, Redfin Data Center.
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.
* Subject to Redfin’s minimum commission policy.
