Redfin has taken the final step toward providing its clients with a fully digital home buying experience. The listings giant’s mortgage arm has announced a partnership with Notarize in a deal that offers Redfin Mortgage clients the ability to close on a home quickly, easily – and completely online.
Redfin dove into the mortgage space last year, stating its ultimate goal to provide customers with an “entirely digital process.”
It spent 2018 opening branches across the country, expanding its reach to 10 markets and promising to bring customers low-rate mortgages with speed and convenience.
It’s partnership with Notarize is making good on that promise.
A 2018 HW Tech100 winner, Notarize is a digital platform offering legal, online document notarization.
A trailblazer in the online notary and eClosing space, Notarize raised $20 million in May with help from housing giants Lennar and Realogy, which both use its services. The company said it has grown more than 50% each month since it launched last year.
"Our closing solution is a natural fit for Redfin because their customers are accustomed to a digital, mobile product," said Notarize Founder and CEO Pat Kinsel. "Our technology integrates to seamlessly to deliver an easy, intuitive experience, so that buyers can get on to moving and unpacking boxes in their new home."
Redfin Mortgage said it completed its first fully digital home closing earlier this month for a homebuyer in Texas, and plans to close more mortgages digitally as homebuyers learn about the option.
"Redfin is using technology to improve the entire home buying process from initial home search, to mortgage application and approval, to purchasing and now closing on a home purchase," said Jason Bateman, head of Redfin Mortgage. "For homebuyers, this means you can choose the time and place to sign your documents, whether that's from the comfort of your couch or on your phone in the moving truck outside your new home."