BUYER'S PROCESS STEP BY STEP

Dear Buyers: Saturdays mean real estate activity for me-that, and a list of "home maintenance" chores. I'm always looking for ways to make these chores easier. One thing I learned recently, while I was washing windows, is that newspapers clean windows better than paper towels. I know, it's hard to believe. I had a tough time with the concept myself, but after going through a few rolls of paper towels, I tried newspapers and found that they got my windows cleaner-for free! And they can still be recycled! Few things work so smoothly! I called it "BUYERS' GUIDE" on today's real estate transaction:

Meet with your Loan Consultant

Pre-qualify for a loan to help ascertain price range

Meet with your real estate agent to discuss your needs: location, size, style, special requirements, etc.

Target locations within your price range

Accompanied by your real estate agent, view homes. Most of these homes will have been previewed by your real estate agent to assure that your time is not wasted viewing inappropriate properties. To assist in this process, you must make sure that your agent knows your likes and dislikes

Success! You have found the right home

Discuss and clarify the offer process with your real estate agent

You and your real estate agent write the offer. Your agent will hold the deposit check uncashed until your offer is accepted.

Your offer is presented to the seller by your real estate agent with the sellers' agent present. Negotiations begin which may include counteroffers between you and the sellers.

When everything is agreed upon, escrow is opened and your check is deposited into an escrow trust account. No party receives interest from money held in escrow.

Your real estate agent guides you through the transaction and monitors its progress on a daily basis. (e.g. inspections, loan approval, contracted work, etc.)

When all items have been completed and the closing date is near, your agent will notify you when to sign the final documents, set up the final walk-through and how to deposit the balance of your down payment to the escrow.

The day before escrow closes, your lender funds your loan.

Final documents are officially endorsed by county recorder and then the escrow is closed.

You move into your newly purchased home. Congratulations !!!

The real estate marketplace is a continuous assortment of unmatched buyers and sellers. My job, each day, is to sort out these interested buyers and sellers, successfully introduce them to each other. Under today's computerized and cooperative real estate system, I can get information on almost any property. I could help to complete a successful "match". Sincerely yours, Chao-Yue (Frank) Liu Your Realtor For Life