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Home buying process

One

Home purchase

Setting the timing

2

Loan

Know

3

Find a house

(Choose a neighborhood)

6​

Contract

5

Negotiation work

4

Offer​

Step-by-step service

Deciding if and when to buy a home

  • Selfless conversation

  • Accurate understanding of buyer situation

  • Buy Now? Wait?

  • ​Detailed explanation of the purchase process, transaction costs, house payments, and other issues

  • Neighborhood counseling

Are you sure that buying a house now is the best option?

Loan consultation

  • Basic explanation of financing procedures, principles, etc.

  • Preview heavy calculations

  • Explain the know-how to finance the best conditions

  • Introducing a well-worked and honest loan team (we do not charge referral fees from lenders)

  • Continuous monitoring of the loan process

To get a good loan, you must have at least two banks/brokers.

It's a good idea to find out.

Finding your dream home (priority)

  • In the order of neighborhood-location-structure-state-finish

  • Always neighborhood first

  • Wish-list and Must-list (Buyer Questionnaire)

Sacrificing a neighborhood for a house is better than sacrificing a house for the neighborhood.

The Chens to regret are much higher.

Write Offer (Price, Decisions)

  • Preliminary research: Title, school district, neighborhood, Zoning, History, Tax, etc.

  • Thorough market research for market price analysis

  • Talking as it is

  • Helping set strategic offer prices: ignoring the receiving price, setting an objective price range, setting the best price a buyer can give, bargaining strategy

Prices must be based on objective data. And you almost always need a little more than a comfortable price to buy a house.

Write Offer (Beat the Competition)

  • Beyond the number: Solve your seller's questions in advance (loan, purchase motives, etc.)

  • Two rabbits: bargaining through objectivity, gaining likability through honesty

  • Clean and seamless paperwork: fill in the blanks properly

  • Adhere to customs; If you need to escape, more explanation is required

  • Know your seller's situation in advance by asking appropriate questions

  • Leverage principle applied: give small things and bring big things

The way and ability of agents to write offers is the difference between the sky and the earth.

It is a big mistake to think that if the price is the highest, you will be chosen.

Continued negotiations and contract fulfillment work

  • Accurate and seasoned paperwork

  • Smooth communication with various related organizations

  • Discussing measures to review various disclosures

  • Various inspection recommendations and accompanying

  • Strategic and convincing repair requests

  • Appraisal / Loan Monitoring

  • Closing preparation (Walk-Thru, Loan Doc, key Transfer, etc.)

  • After escrow: Lifetime customer, Lifetime service

If you don't lose at all and don't make any concessions, you can miss the line. There is nowhere for sentiment to occupy in real estate transactions.

The following is a brief chronological summary of what buyers must do when buying a house. The buyer's to-do list is written from a different perspective than the Southern California home sales procedure , which contains an overall explanation of the buying and selling process, and the 7-step buyer service , which contains the things the agent does while buying a house. It focuses only on what buyers need to do specifically.

Things to do as soon as possible

Credit management

Downpay preparation

Loan Consultation & Pre-Approval Letter

Home Search and Offer

Search for homes for sale

Choosing a real estate agent

Create Offer

Initial Deposit

Loan Application and Financial Documents Submission

Inspection schedule

Escrow in progress (=during contract fulfillment period)

Fill out and sign escrow related documents (usually within a week)

Disclosure review and signature (usually within 1-2 weeks)

Inspection and repair/credit request (usually within 1-2 weeks)

Appraisal (usually within 1-2 weeks)

Home/condo insurance

Loan progress monitoring

Final Walk-Through

Down payment remittance (Wire Transfer)

Check purchase cost

Final Loan Document (Loan Document, abbreviated as “Londaq”) Signature/Notarization

Utility application

Funding (funding, loan amount release) and recording (home document registration)

After escrow

Escrow final document package confirmation

Copyright          2021 Boston Choi  All rights reserved.

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