This is a buyer's guide from The Bienstock Group, a residential real estate firm founded in 2006 by Sheri Bienstock, specializing in Hancock Park and Miracle Mile. It is intended for prospective home buyers working with the firm.
This document is a buyer's guide produced by The Bienstock Group, a residential real estate firm founded in 2006 by Sheri Bienstock and focused on the Hancock Park and Miracle Mile neighborhoods. It is written for prospective home buyers who are working with the firm and want to understand the full purchasing process from start to finish.
The guide opens with an introduction to the firm, highlighting its reputation built on over 250 five-star client reviews and its motto, 'We Love What We Do.' It emphasizes the team's white glove service, local market expertise, and attention to detail, positioning the group as a premier choice for buyers and sellers in the area.
The first major section walks through the initial steps of buying a home. It covers meeting with the team to evaluate needs and wants, identifying the style and price of a perfect home, and figuring out financing. This includes guidance on pre-qualifying for a loan, understanding down payments, closing costs, and monthly mortgage payments, as well as the option of presenting proof of funds for all-cash purchases.
The next section details the process of finding a home and submitting an offer. It explains how the team sends properties that fit the buyer's criteria, and what goes into an offer, including the purchase agreement, pre-approval letter, proof of funds, and a letter of introduction. It also covers typical contingency terms for inspections, loans, and appraisals, and how sellers may counter offers.
The guide then moves into the escrow and closing phase. It describes opening escrow with a 3% earnest money deposit, the roles of escrow and title companies, and the importance of reviewing disclosures like the Transfer Disclosure Statement and Seller Property Questionnaire. It also lists recommended property inspections, including general, termite, sewer line, roof, HVAC, foundation, plumbing, electrical, chimney, mold, and pool checks.
The final sections cover the closing timeline in detail. This includes the loan process, document signing, the final walk-through, and the recording of the property. It provides a day-by-day breakdown from opening escrow to closing, and explains fees and costs such as the down payment, closing costs, and escrow and title fees, along with typical percentages and due dates.