There was a time when a document was missing right up until I sat at the signing table on closing day. There was a typo in the document provided by the seller's title company, and if it hadn't been corrected that day, I would have had to reschedule the moving truck. In the past, if such issues arose, it wasn't a big deal if it took a day or two to resolve, but that's changed. Looking at the recent market in San Jose, the average home price last month was $1.32 million, down 11.9 percent from the previous year, but the median price is expected to remain around $1.5 million through June 2026 (Redfin). The competition index, which indicates the level of competition, is at 50 out of 100, which is less intense than before but still quite challenging.

There are five main items that agents need to check during the closing process. These are property search and comparative market analysis (CMA), offer writing and negotiation, review of the purchase agreement, scheduling inspections and appraisals, and confirming closing documents (NAR). Each step has its reasons, and particularly, the document verification right before closing may seem trivial, but it is closely tied to the moving schedule and the timing of fund transfers; if any part goes wrong, the entire schedule can be disrupted.

Since the settlement of the National Association of Realtors lawsuit in 2024, there is one more item to check. Starting August 17, 2024, buyers must sign a written buyer agency agreement before touring homes with an agent (NAR). In the past, it was common to tour multiple homes without clarifying the contractual relationship, but now the process has changed to require written confirmation of commission terms before starting the tour. The contract must specify the amount or calculation method of the agent's commission.

• Property search and comparative market analysis (CMA)
• Offer writing and negotiation of price and terms
• Review of purchase agreement clauses
• Scheduling inspections and appraisals
• Final confirmation of closing documents

One noticeable difference when working with a Korean agent is that there are no language barriers throughout this entire process. You can review contract clauses and closing documents in Korean, and given the characteristics of Silicon Valley, many people secure down payments through stock options or international remittances, so having experience dealing with these unique financial flows is practically helpful. Additionally, having a network of inspectors, mortgage brokers, and title officers built over years in the area allows for quick solutions when issues arise.

There are also many families who suddenly decide to move due to job changes or company relocations, like in San Jose. In such cases, the schedule from property search to closing needs to be expedited, and I was reminded through this example that if typos or omissions are missed during the closing document verification stage, the entire moving schedule can be thrown off. If you are relocating to the U.S. for the first time with relocation expenses covered by your company or as a new hire, the flow of funds can become complicated, and having experience coordinating the timing of international remittances and domestic account transfers can help prevent closing delays. To summarize the items to check, it is essential to follow these three steps in order: confirm budget and loan pre-approval before making an offer, review inspection results after the contract, and recheck documents right before closing. Although the competition index in San Jose has eased, competition for offers is still common, so if any of these three steps are delayed, it can lead to missing out on properties to other buyers. The fact that sales last month increased compared to the previous year can also be seen as a sign that properties are actively trading again, so it is advantageous to prepare documents in advance when an interesting property comes up. For Korean families who place importance on school districts, it is also advisable to check the school ratings in the areas of interest, but since school district boundaries change frequently, please verify the assigned school for the specific address before purchasing. It is also good to keep in mind that tax and mortgage conditions can vary by county. This article is not investment or legal advice, and it is recommended to consult with a professional before making any actual contracts.