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How many Chinese buy houses in California every year?

Every year, about 2,000 Chinese people from Hong Kong and Taiwan buy houses in California, including Los Angeles and San Francisco.

Real estate transactions in the United States involve the following basic processes. If a loan is not required, it will be relatively simple. The entire transaction process is as follows:

1) Must have a Chinese passport and a visa to legally come to the United States

2) Apply for a formal loan advance approval letter (more than 30% down payment)

3) Select the area where you want to buy a house,

4) Discuss the purchase requirements with your real estate agent, and the agent will introduce you to the house viewing and house selection

5) Fill out the house purchase offer contract Book and pay the deposit check

6) Deposit the deposit check into a third-party notary escrow company (Open Escrow) and start work

7) Do a house inspection

8) Request maintenance

9) Review the results report of the house

10) Review and sign the notarized trusteeship letter

11) Review the previous owner (property rights) ) report

12) Review termite inspection report

13) Purchase house insurance

14) Sign loan information

15) Notarized escrow Final steps (Close Escrow)

16) Final handover inspection

17) Bank loan

18) Data registration

19) Handover Collect keys