Frequently Asked Questions

/Frequently Asked Questions
Frequently Asked Questions2018-10-26T06:03:14+00:00
Accounting / Taxes2018-11-06T13:22:15+00:00

Chartered Financial Strategies LLC
Sean Monohan, CFP & Enrolled Agent
972-608-2626
www.cfscorp.net

ClearChoice Financial Group, Inc.
Kendal Marshall, CEO & Founder
469-941-2648 (O) / 460-742-1076 (C)
www.clearchoicefg.com

Appliance Repairs2018-09-21T12:38:36+00:00

A+ Certified Appliance Service
Tyler Adkins
972-890-5014
APlusCertifiedAppliance.com

Callahan’s Appliance Inc.
888-319-8311
www.Callahansappliance.com

Appraisers2018-09-21T13:02:07+00:00

Box & Associates
972-392-0300
www.BoxAppraisal.com

DW Skelton &Associates
214,-265-1037 (O)
214-697-5897 (C)

John A. Sexton
Certified Appraiser
469-939-2816
JohnASextonCertifiedAppraiser.appraiserxsites.com/HomePage

Shinpaugh Appraisal Company
Carl Shinpaugh
214-890-9916 / 214-202-7626
ShinpaughAppraisalCompany.appraiserxsites.com/

Attorneys2018-11-06T13:27:21+00:00

Auten & Willingham, P.C.
Mark Auten
469-791-0417 (O) / 469-223-7394 (C)
www.dallaswillattorneys.com
Mark@ANWLawFirm.com
Estate Planning, Business Formation, Probate and Real Estate Law

Lori Leu & Associates
Lori Leu
972-996-2540 (O)
LeuLawFirm.com
Seniors, Wills, Estate Planning & Administration, Long-Term Care, Benefits Planning, etc.

Ruais & Associates, PLLC
Philip Ruais
214-572-2109 (O)
www.bluejeansLaw.com
Real Estate, Business Contracts, Estate Planning, Probate, Litigation, etc.

The Law Office of Cristina Levine PLLC
Cristina Levine
469-400-6849
CristinaLevine.Lawyer.com

Boxes/Containers (Moving)2018-01-11T17:17:27+00:00

Cowboy Boxes (plastic reusable containers)
Chase West
972-214-8889
www.CowboyBoxes.com

Brick Masons2018-11-06T13:29:26+00:00

David Sotelo
214-621-4275

Don Barker
817-798-5724
DonPatty5@gmail.com

Greg Farris
972-741-6942
www.Greenhillsdesign.com

J.H. Masonry
Johnny Harper
817-905-5525

Nanroc In. (formerly Martinez Masonry)
972-347-2149

Master Masonry
Roger Landry
214-226-6007
www.MasterMasonry.com

The Fireplace Specialist
Jim Finley
972-867-8998

Carpet Cleaners2018-11-06T13:30:58+00:00

All Star Carpet Cleaning
Sergio Perez
972-347-5884 (O) / 972-832-1082 (C)
AllStarPowerWand.com

Minuteman Carpet Services
Andrew Arnold
817-915-5334
MinutemanCarpet@sbcglobal.net

Pure Dynamic
Brad Addington
972-746-2717 (O) / 214-995-0308 (C)
www.PureDynamicTX.com

Steam Me Up
Jim Holcomb
214-232-5051
www.SteamMeUp.com

Chiropractor2018-11-06T13:34:11+00:00

Chiropractor North Dallas Spine Center
Dr. Oscar Presas, NUCCA Chiropractor
972-781-0010 (O)
www.northdallasspinecenter.com
No popping or cracking. Just an adjustment of your upper cervical.

Credit Repair2018-09-20T18:16:01+00:00

Back Office Credit Solutions
Kissena Sheets
Credit Consultant
800-656-0084 ext. 101 (O)
972-677-3460 (C)

www.BackOfficeCreditSolutions.com 

My Score Restoration
Jerry Vergara
Credit Specialist
469-245-2466

Omega Credit Repair
David Dishman
Credit Specialist
214-733-8336

Electricians2018-11-06T13:36:31+00:00

Echeverria Brothers,
Julio Echeverria, Master Electrician
972 -533-1617 (O)
www.Facebook.com/EBElectric/

Fences2018-11-06T13:39:43+00:00

Cedar Creek Fences
Dave Phillips
214-218-2800 (O)
www.CedarCreekFences.com/index.shtml

Exterior Wood Savers
972-578-5024
www.WoodSavers.com

Fence Family
Matt, 972-863-1777 (O)
www.FenceFamily.com

Johnson Fence Company
Bill Johnson
469-877-9415 (O)
www.BillJohnsonFences.com

RIF Fence Stain & Restoration,
Jim Waida
214-205-6481 (O)
www.RIFStain.com

Superior Custom Painting,
Gabe or Carlos Lopez, 214-251-6802 (O)
www.facebook.com/superiorcp/?ref=page_internal

Texas Best Fence & Patio
972-245-0640
www.TexasBestFence.com

Financial Advisors/Planners2018-11-06T13:43:48+00:00

Edward Jones
Craig Mills, Financial Advisor
972-733-1037 (O)
Mills@EdwardsJones.com

Holcomb Wealth Management
Kimberley Holcomb, CFA
972-980-0284 (O)
KHolcomb@holcombwealthmgt.com

Lighthouse Financial Services
Karin McIntosh
817-882-8221 (O)
Karin@LighthouseDFW.com
www.LighthouseDFW.com

The Protected Legacy Group
Jim Stephenson
972-813-9657
TheProtectedLegacyGroup@gmail.com
www.facebook.com/JimCindyStephenson

Flooring2018-11-06T13:45:04+00:00

CSC Floors
Amber Suggs, Territory Manager
214-368-0082 (O) / 214-334-9328 (C)
www.CSCFloors.net

Juan Aguilar (Bathroom, Kitchen & Flooring Remodels)
469-471-8936

Floor Raiser2017-12-20T14:52:23+00:00

Chris Latham
817-305-3700
Chris76114@gmail.com

Foundation and French Drain Companies2018-11-06T13:47:17+00:00

Arch Foundation Repair
214-467-9700 (O)
www.ArchFoundationRepair.com

Bedrock Foundation Repair, LLC
214-824-1211 (O)
www.bedrockfoundationrepair.com

Integrity Foundation Repair
Jeff Marshall
817-561-6500 (O) / 817-269-2171 (C)
www.IFRDFW.com

MBR Guaranteed Foundation Repair
Phillip Duffin
817-469-1090 (O) / 817-891-6426 (C)
www.mbrgfr.com

Perma Pier
214-227-2213 (Dallas) / 817-583-8714 (Fort Worth)
www.PermaPier.com

Structured Foundation Repairs
972-484-1200 (O)
www.structuredfoundation.com

Furniture2018-11-06T13:52:03+00:00

Ethan Allen
Debra Coffey
214-387-9300
Debra.Coffey@EthanAllen.com
www.EthanAllen.com

Garage Doors2018-11-06T13:53:01+00:00

McKinney/Frisco Overhead Doors
972-837-1080 (O)
McKinneyFriscoOverheadDoor.com

Nation Overhead Door & Gate
972-590-8895 (O)
www.nationoverheaddoor.com

Granite Installers2018-11-06T13:53:53+00:00

Granite Stone Cutters
214-502-8029 (O)
www.GraniteStoneCutters.net

Rene De Santiago
214-416-1308 (C)

Gutters2018-11-06T13:54:51+00:00

Dallas Gutter and Repair
Eric Wales
972-234-1251
www.DallasGutter.com

No Leak Rain Gutters
972-727-8838 (O)
www.facebook.com/pages/No-Leak-Rain- Gutters/169741089702662

Texas Gutter Solutions
469-667-9101 (O)

Handyman2018-11-06T14:03:20+00:00

Design Remodel Pros (Handyman Services)
Brian & Sara Belmonte
(972) 407-0754 (O)
www.DesignRemodelPros.com

Eduardo Juarez
214-598-1504
EduardoJuare@hotmail.com
Flooring/Handyman/Remodeler

Fix Me Up
Jim Holcomb
214-232-5051
www.SteamMeUp.com

Handy Hallet
Robert Hallett
469-989-8576
HandyHallet@gmail.com

In & Out Handyman Services
Larry George
469-446-2228

Maestro
Erick Gotcher
214-578-1383
Erick@MaestrosWindows.com
Handyman/Window Cleaning

Heating & Cooling (HVAC)2018-11-06T14:21:25+00:00

Big Bear A/C and Heating
972-998-9990 (O)
www.BigBearAir.com

CoolAir
972-679-4072 (O)
www.ColdAirAC.com

Master Tech Service Corp
817-251-4455 (O)
MasterTechServiceCorp.com

Matco HVAC
972-292-1880 (O)
www.MatcoServices.com

Mr. Duct Cleaner
972-322-4356 (O)
www.MrDuctCleaner.com

Taylormade Heat and Air, LLC
Lance Taylor
469-424-3404 (O)
TaylormadeHeatAndAir.com

Inspectors2018-11-06T14:37:17+00:00

343 Home Inspections (Mechanical & WDI)
214-800-2001 (O)
www.343Inspections.com

360 Inspections,
Lance Dubahoe
469-224-0360 (O)
www.Inspect360.com

A-Action Inspections
972-572-4500 (O)
www.A-ActionHomeInspection.com

Best Inspections (Mechanical & WDI)
903-463-2220 (O)
bestinspections.net

Focus Real Estate Inspections
Kirk Watson
979-676-3228 (O)
www.Focusrei.com

Hawkins Home Inspections
Greg Hawkins
214-856-9415 (O)
HawkinsHomeInspections@gmail.com
www.facebook.com/HawkinsHomeInspections/

Kissee Inspections
469-438-8509 (O)
www.KisseeInspections.com

Pillar to Post Home Inspections
Ken Duggan
214-399-5862 (O) / 214-986-6045 (C)
www.LivingwithmyHome.com

Providence Property Inspections
469-980-6818 (O)
www.ProvidenceInspect.com

Road Runner Inspection Services
Allan Bankston
214-226-9492 (O)
www.RRISTX.com

Show ’N Tell Inspections
Richard Whitsitt
214-642-7853 (O)
www.WeInspectDFW.com

Insurance2018-11-06T14:58:37+00:00

Insurance (Hazard/Home/Auto):

Interior Designer2018-11-06T15:01:00+00:00

Ethan Allen
Debra Coffey
214-387-9300 (O)
www.EthanAllen.com

Landscapers2018-11-06T15:02:35+00:00

All Texas Services (Collin/Denton County)
Alberto Hernandez
972-505-8698 (C)

Antonio Zarate
214-475-5913 (C)

College Fund Landscaping
972-985-0279 (O)
www.collegefundlandscaping.com

Emerald Lawn Care (Collin/Denton County)
214-585-8575 (O)
www.EmeraldLawnOnline.com

Green Meadows Landscaping
Kronda Thimesch
972-670-0331 (O)
GreenMeadowsLandscaping.com

Jose Coria
214-402-1229 (C) / 214-732-6651 (O)

Lewis Hernandez (Primarily Trees)
214-309-8681 (O)

Quality Lawn & Landscaping (Collin/Denton)
Acosta Antonio
214-404-1956 (C) / 972-814-5576 (O)

Sundrop Gardens
Manuel Hassenteufel
214-417-6036 (O)
www.SundropGardens.com

Locksmith2018-11-06T15:03:43+00:00

MrReKey Locksmith,
Dustin Tabbert
972-282-9696 (O)
www.rekey.com/locksmith/fort-worth
(Unique code: 121907, Client receives $10 discount if code used)

Maid Service2018-05-25T11:47:12+00:00

Lupe & Maria
214-353-0236, (Frisco, Plano, Carrollton)

Maria McClaughlin’s Cleaning Service
972-712-4575 or 214-492-9875 (Frisco, Plano, McKinney)

Realty Cleaning Services
214-440-7000

Tomasa Cortes
214-881-7069

Ultra Spic n Span Cleaning Inc.
Tawanna Fields
214-392-5949 (DFW area)
www.facebook.com/ultraspicnspan

Veronica Aguilar
214-431-8557 (Frisco, Plano)

We Shine Through Detailed Cleaning Service
Candis Smith
972-616-3878 (Collin & Denton County)

Movers2018-11-06T15:07:40+00:00

A-1 Freeman Moving Group
Local, Domestic & International Moving Company

Mark Waller
972-506-1710
www.A-1Freeman.com

Fantastic Moves
214-349-6683
www.FantasticMoves.com

Move Masters
214-560-7919
www.DFWMoveMasters.com

Rhino Moving Pros
469-713-6683
www.RhinoMovingPros.com

Painters2018-11-06T15:12:44+00:00

Javier Rodriguez
972-603-6896

Luis Calderon
817-606-9155

Marvin Ortiz
469-685-6678

Miriam Cedillo
817-759-9847

Hector
469-360-7735

Ramsay & Alan’s Painting
Jose Juarez
469-544-2571
Paint, Stain, Drywall & Sheetrock (exterior, interior, doors, cabinets and shutters)
DFW area (free estimates)
www.ramseyandalanspainting.com

Santos Molena
214-680-8366

Steve Tickner Residential Painting Specialist
972-517-7313
steveticknerpainting.com

Pet Mover/Veterinarians2018-01-11T17:48:32+00:00

World Pet Travel
Angela Passman
214-396-5070 (USA) / 506-4000-1689 (Costa Rica)
www.MovePet.com

Plumber2018-11-06T15:16:18+00:00

Concord Plumbing Co.
John Dickerson
214-733-3635

Do It All Plumbing
Norman Bundrant, Master Plumber (Collin/Denton County)
469 -487-9209
www.DoItAllPlumbing.us

Jim Nigel, Master Plumber (Tarrant County & Dallas South of I-30)
817-894-1809

Texas Green Plumbing
Roger Wakefield
972-442-4101 / 214-907-2928
www.TexasGreenPlumbing.com

Pool Cleaning, Maintenance and Pool Inspections2018-01-11T17:50:15+00:00

Poolsmith
Randy Smith
972-214-9291
www.Poolsmith.net
(Service areas: McKinney, Prosper, Frisco, Princeton, Allen, Fairview, Plano)
CERTIFIED – BACKGROUND CHECKED – INSURED

Remodeling Contractors2018-11-06T15:18:50+00:00

Alex Guthrie Construction
469-446-8508
AlexGuthrie.net

Burns Construction & Remodel
Mark Burns
214-385-9919
burnsconstructionandremodeling.com/index.html

Champion Home Services
Rick Middaugh
832-229-4065
www.ChampionRemodelingTX.com

Design Remodel Pros
Brian & Sara Belmonte
(972) 407-0754
www.DesignRemodelPros.com

DFW Remodel Team
Vino Paudel, General Contractor, Remodeler
972-220-8057
www.DFWRETeam.com

FS Renovations
Servicing entire DFW area, Ashley Coatney as a reference for a great price
972-247-7700
FSRenovations2@yahoo.com
www.dfwrenovations.com

Luna Pros
800-663-4406
lunapros.com

Pruitt Construction Company
James Pruitt
903-456-2810

Serving You F1rst Contracting
Kevin Seaman
214-864-1161
www.ServingYouFirstContracting.com

Star Home Remodeling
John or Stefano
972-954-2476 
www.StarHomeRemodeling.com

Residential Service Contracts2018-11-06T15:22:23+00:00

When selecting a plan be sure to include upgrades for A/C, Heater and garage doors to ensure the likelihood of coverage if failure occurs. DO NOT ORDER, just call to determine which company and plan you want. Contact your agent to place the order.

2-10 Home Warranty
1-800-795-9595
www.2-10.com

American Home Shield
1-800-735-4663
www.AHSwarranty.com

Broward Factory Service
1-877-237-9700
www.BFSHomeWarranty.com

Fidelity National Home Warranty
1-800-308-1420
homewarranty.com

First American Residential Service
1-800-444-9030
www.HomeWarranty.firstam.com

Nations Residential Service
1-888-737-7070
www.Home-Warranty.com

Old Republic Home Protection Plan
1-800-445-6999
www.ORHP.com

Roofers2018-11-06T15:31:13+00:00

Authority Roofing
Catherine Brenneman, Certified Master Elite Roofer
214-697-2464 (O)
CBrenneman@AuthorityRoofing.com

EcoTech Roofing
Robert Burnley
972-922-3606 (O)
www.EcoTechRoofing.com

First Out Roofing
Nick Frederickson
214-289-6776 (C)

Mark Snow (Former Claims Adjustor)
806-433-0125 (C)
www.Firstoutroofing.com

JH Roofing & Construction
Jesse Hwong
469-878-2315 (O)

Swan Roofing, LLC
972-596-8313 (O)
www.swanroofing.com

Texas Best Construction
Richard Stallings
214-394-8563
www.Texas-BestConstruction.com

Water-Tite Roofing
817-561-6500
www.WaterTiteRoof.com

Security Alarms2018-01-11T18:01:23+00:00

ADT Security
Holger Moncayo
469-693-1125
www.ADT.com

DFW Security
1-877-372-0350
www.DFWSecurity.com

Safe Haven Security
Bryan Hodge
469-607-5838 (O) / 785-409-8048 (C)
BHodge@MySafeHaven.com

Smith-Thompson Security
972-526-8500
www.SmithThompson.com

Shutters2018-05-23T12:17:10+00:00

Kellee’s Custom Shutters
LeeAnn Kemp
903-227-2997
www.KelleesCustomShutters.com

We Got Shutters
James Peters
214-636-9398
WeGotShutters.com

Sprinklers2018-01-11T18:05:44+00:00

Aldridge Lawn Sprinklers
972-578-2733

American Lawn Sprinkler Company
972-420-8700

Stager2018-01-11T17:58:54+00:00

Lynn Wilson Interiors
Lynn Wilson, Stager
507-271-9907
www.LynnWilsonInteriors.com

Staged Just In Time
Denise Smith, Certified Staging Professional
214-762-2867
www.Homesstagedjustintime.vpweb.com

Structural Engineers2018-01-11T18:06:52+00:00

Crannell Engineering
972-691-6633
www.Crannelleng.com

Surveyors2018-05-25T12:06:37+00:00

Amerisurveryors
214-677-4966
www.Amerisurveyors.com

CBG Surveying Inc.
214-349-9485
www.cbgdfw.com

Innovative Surveying
469-260-0828

Jimmy Pogue Land Surveyors
214-371-0666
www.JimmyWPogue.com

Roome Land Surveying
Chad Sledge
972-423-4372
www.RoomeSurveying.com

Texas Heritage Surveying, LLC
214-340-9700
www.txheritage.com

Transportation2017-09-06T14:28:53+00:00

Collin County Cab
469-952-7772
(24-hour taxi service for airport, in-town runs, doctor’s visits, party bus etc.), servicing Frisco, Plano, Allen, McKinney and the surrounding areas
www.collincountycab.com

Tree Trimmers2017-09-06T14:31:13+00:00

Becerra Lawncare
214-241-9141

Jonathan Trees
214-434-9929

Utility Companies2018-01-11T18:14:26+00:00

Electricity

Gas

Water and Trash (If your city is not listed, call the city in which you will be residing for information)

Telephone/Cable/Internet

Water Restoration/Mold Remediation2018-01-11T18:18:15+00:00

ServPro
Brett Young
972-335-9900 / 512-791-3959
www.ServProSouthFriscoTheColony.com

Puro Clean Water Restoration
Jim Bauer
214-463-2252 / 469-656-7000
www.purocleanmckinneyfrisco.com

Rainy Day Services
972-747-7734
www.rainydayservices.com

Window Cleaning, Repair or Replacement2018-11-06T15:40:14+00:00

BullDozier Window Service
972-238-9309

Foggy Window Experts
214-981-4378
www.facebook.com/Foggy-Window-Experts-825360234227106/?ref=page_internal

Lone Star Spit & Shine Windows
Sheldon Coone
972-987-6024
www.lonestarspitandshine.com

Precision Windows
972-562-8828
www.precision-windowsdfw.com

Squeaky Clean Windows
Chuck Davis
817-938-7654
www.squeakycleanwindowsdallas.com

Lender Questions2017-09-05T17:52:45+00:00

When contacting lenders, inquire and compare the following:

  1. What is loan process?
    • Can application be taken over the telephone, via a website, or in  person?
  2. Financing Options available?
    • Do you need to put any money down to purchase the  house?
    • What are the financing programs, Terms and Interest Caps?
      • FHA, Conventional, VA, USDA,
      • 30 year fixed, 15 year fixed, etc.
      • ARMs (Adjustable Rate Mortgages), Interest Only, Construction Loans, etc.
  1. Interest Rates for different financing options?
    • Is there a loan origination fee? If so, how much?
    • Are there any points being charged for the rate quoted?
      • What exactly is a point?
    • Can you lock the interest rate? If so, is there a rate lock  fee?
      • If interest rate changes, can you get the lower rate?
      • How long can you lock a rate?
    • What is the APR (annual percentage rate) –
      • This is very important when comparing lenders. It is designed to represent the true cost of the loan to the borrower, expressed in the form of a yearly The purpose is to prevent lenders from hiding fees and upfront costs behind low advertised interest rates. The APR will give you an idea of the overall difference in fees charged by the lender to close your loan.
    • Will property taxes and hazard insurance be escrowed?
      • Is there a fee if you don’t want to use an escrow  account?
    • What is the estimated time to close loan?
    • Can they email you a “Good Faith Estimate” or “Closing Costs  Worksheet”?
      • Good Faith Estimate is an estimate of the charges which you are likely to incur at the closing/settlement of your
    • When can you anticipate your first mortgage payment and for how much? How much money will you need to bring to closing/settlement?

Once you’ve gathered your information, if you’d like for me to assist you in comparing lenders, let me know.

What is a Homestead Exemption and How to Request it?2018-07-12T14:35:00+00:00

GENERAL HOMESTEAD

  • You have an ownership interest in the property and use the property as your personal residence; however, you are required to state that you do not claim an exemption on another residence homestead in or outside of Texas.
  • You must own and reside in the home on January 1 of the tax year.
  • You must provide a Texas driver’s license or state identification card and the homeowner’s vehicle registration receipt. The address on the identification and the vehicle registration receipt MUST match the address for which the homestead exemption is requested.
  • If the owner does not own a vehicle they can send a current utility bill showing name and address along with an affidavit indicating non-ownership of a vehicle. The bill MUST match the address for which the homestead exemption is requested.
  • IT’S FREE! DON’T PAY TO FILE A TEXAS HOMESTEAD EXEMPTION! Scammers send official-looking stationary to suggest that a fee (usually $50 or more) must be paid for a homeowner to get an exemption. These claims are false and deceptive.

Property owners should read applicable statutes carefully. Below are the relevant websites and/or homestead applications.

Dallas County – http://www.dallascad.org/forms.aspx

Collin County – https://www.collincad.org/downloads/viewcategory/13-residential-exemptions

Denton County – https://www.dentoncad.com/forms-and-downloads#All%20Documents%2FExemptions

Tarrant County – http://access.tarrantcounty.com/en/tax/property-tax/rates-and-exemptions.html

What are my Fiduciary Duties as your Realtor®?2017-06-23T16:44:07+00:00

When you hire me as your Realtor®, my Fiduciary Duties to you are:

  • Obedience
  • Loyalty
  • Disclosure
  • Confidentiality
  • Accounting
  • Reasonable Care & Diligence
What should I expect when viewing properties with my Realtor?2017-06-23T16:45:37+00:00

When viewing properties, please keep in mind that although this may be a very emotional time,

  • Do… view the process as a business decision.
  • Do… COME PREPARED TO PURCHASE
  • Bring checkbook for Earnest Money and Option Money
  • Allot time to submit offer
  • Do… rate each property on a scale of 1 to 10 with 10 being the perfect home. Please note that typically, perfect homes are hard to find so, any home that rates an 8 or 9 should be strongly considered as a home to submit and offer on.

As you rate each property, consider:

  • The neighborhood
  • The property curbside appeal
  • First impression when you enter the home
  • Property finish out
  • Repairs needed, if any
  • Size of home relative to your needs

After viewing a property, please rank properties by 1st, 2nd, 3rd or 4th purchase choice. Any property that slips to 5th or higher should be discarded.

No Money Down…Does Not Mean NO MONEY NEEDED2017-06-23T16:43:59+00:00

When a lender tells you that you may be able to get into a home for no money down, they do not mean you will not need any money to purchase/close on a property. Oftentimes buyers confuse “No Money Down” with the thought that they will not need any money. This is far from the truth. Typically, to purchase a home, the buyer will need funds for earnest money, termination option and/or inspections.

With this in mind, when a lender says “No Money Down”, they typically mean you may be eligible for 100% financing using one of many lender programs that may be available.

What Constitutes Closing Costs?2017-06-23T16:45:07+00:00

Closing costs are expenses that cover fees associated with the transfer of property ownership, fees paid to state and local governments, and the costs of obtaining a mortgage loan. Some of these fees are negotiable, and could be paid by either the buyer or the seller. Some costs are one-time fees (non-recurring closing costs, such as title search, termite inspection, appraisal, etc.); while other fees such as homeowner’s insurance or property taxes are things you will expect to continue to pay on a regular basis as a homeowner. As part of the loan selection process, your mortgage consultant should give you an idea of how much money you should have in reserve to cover your end of these costs. The Real Estate Settlement Procedures Act (RESPA) requires the lender to provide you with a Good Faith Estimate within three days of the submission of your loan application. RESPA also states that as a home buyer, you have the legal right to request a copy of the HUD-1 Settlement Statement 24 hours before your closing is scheduled. The HUD-1 clearly defines all closing costs, including those that are to be paid by the buyer and the seller. It’s a good idea to have both of these forms before your closing so you can compare the estimated costs to the actual costs before you finalize your transaction.

Items & Funds Needed to Submit an Offer in Texas:2017-06-23T16:43:46+00:00
  1.  Loan Pre-Approval Letter or Letter of Funds Availability from Loan Officer / CPA / Financial Advisor / Bank.
  2.  Earnest Money
  3.  Termination Option Fee (for existing homes)
  4.  Inspection Fees
    Mechanical Inspection
    WDI (Wood Destroying Insect) Inspection
  5.  Down Payment
    Minimums: FHA– 3.5%; Conv – 5 to 10% of Sales Price
  6.  Closing Costs (loan origination, title insurance, prepaids -taxes/insurance)
    Ranges from 3-6% depending on price of property. Consult lender for more accurate amount.
How Do Real Estate Agents Get Paid?2017-06-23T16:43:34+00:00

Most real estate agents work for a broker as independent contractors and are 100% commission based. Typically, the commissions are paid at closing by the seller (i.e., owner, builder, bank, etc.) to the broker then distributed to the agent based on either a percentage commission split with the broker or full commission less a transaction fee. This is true even if the agent you are working with has signed a buyer representation agreement with you. However, a real estate transaction can be negotiated any number of ways, and that includes the possibility that the buyer could end up paying some or all of the sales commission.

Since most real estate agents work solely on commission and have expenses and financial obligations just like you, your loyalty is much appreciated. Most agents will respond with a sincere commitment to servicing your needs.

Note: Typical, Seller Closing Costs: $150,000 Property; 6% commission paid on  Sales Price = $9,000 plus title policy, property taxes year-to-date, legal fees and processing fees. These additional fees on average are 2.5 -3% of Sales price or $4500. So, Seller’s Estimated Closing Costs are $13,500. Keep this in mind, when considering the notion of having the Seller additionally pay your closing costs.

What is Intermediary?2017-06-23T16:45:29+00:00

Broker represents the seller & the buyer and provides only factual information and no advice to either party; shall treat both parties honestly; shall not disclose if seller will take a lower price or if buyer will pay more than submitted offer; and may not disclose confidential information.

What is a Seller/Owner’s Agent?2017-06-23T16:45:22+00:00

Broker represents the owner and must place the interest of the owner first; buyer should not tell owner’s agent anything they do not want the owner to know because owner’s agent must disclose any material information known to owner.

What is a Buyer’s Agent?2017-06-23T16:45:14+00:00

Broker represents the buyer and must place the interest of the buyer first; owner should not tell buyer’s agent anything they do not want the buyer to know because buyer’s agent must disclose any material information known to buyer.

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Gillian Cunningham | Residential Real Estate Specialist | Texas

Gillian Cunningham

Certified Residential Specialist

(469) 269-2754

Ask@GillianCunningham.com

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