Darryl reviews the importance of asking the right questions to find the best Realtor® for you.
How do you find the right Realtor for you? How do you know a real estate professional really knows what they are doing? You can’t rely on a great headshot or fancy car to confirm the success of a real estate agent.
You can however, rely on yourself to interview multiple candidates, and ask the right questions. When you ask specific questions, which are designed to trigger insightful dialogue, you can make your decision of whom to hire with confidence.
There’s plenty of real estate opportunities for everyone around here. Getting a license is the easy part, gaining knowledge, insight and experience which can help clients with their home dreams and needs, takes much more. My team and I are aiming to raise the bar of professional, compassionate service within the real estate market, so everyone can benefit. This is best achieved through consumer education.
One example to ask: “How do your average selling prices compare to actual selling prices?” You need not, and probably won’t find a Realtor® where these two figures match up 100%. Instead, this question can lead to an open discussion with honest candor as to why there maybe a range of actual selling prices lower or higher than what was listed. This question gives agents a chance to show their integrity through open and honest conversation.
Arming yourself with good information which can make an impactful difference will help you be happy with your home buying or selling experience. Discover what are the right questions to ask by downloading my FREE home seller report 20 Questions You Must Ask Your Next Realtor® Before You Sign on the Dotted Line for a complete list of questions to ask your real estate agent before listing your home for sale.
Darryl and Dan Newberry of TTCU discuss Interest Rates, how they can impact homebuyers.
Interest rates for mortgages have been in fluctuation, especially with the latest tax reform laws passed and bond market ups and downs. These things and other economic influences impact the rise and fall of interest rates, sometimes from one day to the next. A higher interest rate means a higher mortgage payment. Once you have locked in your interest rate with your mortgage lender, you will know how much interest will be included in your monthly home payment. But this can’t happen until you go to your funding source with a home you’ve made an offer on.
How can you prepare and plan for an affordable payment without knowing what the interest rate will be prior to getting a loan for your new home? Applying different financial solutions to your monthly expenses can make a big difference. The folks at TTCU for example, can run a Credit Expense Analysis and review where you may be able to consolidate or refinance debt to lower your primary expense budget. If you’re paying less out of pocket when you find the home you want, chances are you’ll be better able to absorb a higher mortgage payment if interest rates have gone up.
The key is to watch the market regularly and know how interest rates are changing so you won’t be surprised. Keep ongoing communication with your lending institution. A good financial plan can help ensure you have peace of mind when you move into your new home. Visit www.ttcu.com to start the discussion of financial solutions for you and your family.
For real estate questions, contact The Baskin Real Estate Specialists of eXp Realty at 918-732-9732 or darrylbaskin.com
Join “The Future of Real Estate” to hear more about prohibited dealings to avoid in real estate.
The Oklahoma Real Estate License Code and Rules provides a list of 23 prohibited dealings. These standards are important for all people to know. As a consumer looking to buy, or sell real estate in Oklahoma, you should be aware of the commission rules. These are established to protect you from a potentially negative outcome. Licensed real estate agents are expected to adhere to a certain standard. If they don’t follow these rules, they can be held accountable by the licensing commission and the law.
One prohibited dealing listed by the Oklahoma Real Estate Commission is “The making of a brokerage service contract without a date of termination”. In other words, it’s an open-ended contract. As a consumer, you don’t want to sign a contract that doesn’t list a termination date. It’s too ambiguous and creates conflict.
A second prohibited dealing is “Purchasing of property by a licensee for himself or herself or another entity in which the licensee has an interest as defined in 605:10-15-1 (c), if such property is listed with the broker or the broker’s firm, without first making full disclosure thereof and obtaining the approval of the owner, or the failure by the licensee to exert the licensee’s best effort in order to later purchase or acquire the property for themself or another entity in which they have an interest as defined in 605:10-15-1 (c)”. It’s not wrong for a Realtor to sell a property in which they have an interest; however, they must make it known.
These are 2 of the 23 prohibited dealings. Visit the Oklahoma Real Estate Commission for a complete list of prohibited dealings in Oklahoma. Check out the License Code and Rules (effective November 1, 2017) document.
For additional real estate questions, or to schedule an appointment with The Baskin Real Estate Specialists, with no cost or obligation, visit askinforbaskin.com.
Click here to join “The Future of Real Estate” and learn more tips on how to have a smooth process when buying a home
Trina Davis, of eXp Realty, invites you to join her for a free 30-minute consultation over a cup of coffee. There’s no cost, or obligation, to sit down and have an interview. You can reach out to Trina at 918-906-2649.
Buying a home is one of the best ways to build wealth and create stability. As you begin the process of buying a home, take time to sit down and interview agents. Look past the hype and excitement of buying a house and review the necessary facts.
One of the first steps to pursue when buying a home is to get your finances in order. Meet with a lender to get pre-approval and set a budget. This process will help you to know how much you have to work with, and establish realistic expectations from the beginning.
Pre-Qualified vs. Pre-Approval
When seeking your pre-approval letter, there’s a difference between “pre-approved” and “pre-qualified”.
The lender accepts your application, the information you give them, and they say “you qualify for this amount of money”. They may provide you with a letter which says you are pre-qualified. However, the pre-qualification doesn’t actually go through the steps to verify the information is correct. It’s not a pre-approval. The letter may say “subject to verification of assets, income, or employment”.
A pre-approval letter is a reliable letter which indicates the applicant has been through underwriting. The information has been verified, including income and assets. This letter assures the real estate agent and seller, that the lender qualifies for “this much” money. Therefore, if the lender submits a contract, you can rely on it, and that they are ready to proceed.
TTCU Federal Credit Union offers options which are great for first-time home buyers, including two conventional type loans which allow for no money down, however the buyer is responsible for closing costs. Keep in mind, down payments and closing costs are separate. The down payment is the amount being paid towards the home, while closing costs include all the “extras”, such as taxes, insurance, escrow, and lender fees. Additionally, TTCU Federal Credit Union will take 0.125 percent off your interest rate when you close with them; the loan must be a purchase transaction and close at Integrity Title and Closing. TTCU offers some of the lowest closing costs in Tulsa! Visit ttcu.com to fill out an application online, or get more information.
This stage of the home buying process isn’t glamorous or fun, but it is the foundation of your home search. It’s possible your dream home receives multiple offers. Having your pre-approval letter from a reliable lender may help your offer get accepted.
While buying your first home is exciting, there’s a potential for issues to arise along the way. It truly helps when you choose a Realtor® who is experienced and knows how to try and prevent these issues from arising.
Schedule an appointment with The Baskin Real Estate Specialists, with no cost or obligation, visit askinforbaskin.com.
- 7957 S 78th East Ave. – Located in Sweetbriar. Wonderful layout with 3 bedrooms downstairs plus bedroom suite and theater upstairs. Semi-detached office w/outside entrance, outdoor living area. Great value! Listed at $225,000
- 6708 S Atlanta Pl – Spacious home with 4500 SF; 2 bedrooms on first floor, 2 upstairs with possible 5th bedroom, formal living, dining, and family rooms. New hardwood floor and plenty of closet space! Office with separate entrance and Circle driveway. Listed at $294,000
- 8954 W 51st Street – Well priced Grand Colonial home with beautiful entry! 9042 SF on 5 acres, 6 bedrooms, 6-full/2-half baths, chef’s kitchen, and 8-car garage. Listed at $999,999
For a complete list of active listings, visit homeguidetulsa.com.
Photo attribution: www.ccPixs.com
Click here to learn more about your home financing options in Tulsa
TTCU Federal Credit Union, in Tulsa, has a selection of financing options available for home buyers. They offer two conventional type loans which allow for no money down. These options include:
- 100% Financing – You can buy a home without a down payment. This 100% single loan requires a 720 credit score, with adequate credit history, plus closing costs.
- 80/20 Combo Loan – This loan breaks up the costs, 80% is applied to a first mortgage and 20% is applied to a second mortgage. This loan requires a 680 credit score. and some established credit history, plus closing costs.
Keep in mind, down payments and closing costs are separate. The down payment is the amount being paid towards the home. With the financing options mentioned above, no down payment is needed; however, the buyer is responsible for closing costs. Closing costs include all the “extras”, such as taxes, insurance, escrow, and lender fees. When you purchase a home, you’re required to pay 1 year of insurance upfront. Also, money has to be put into a monthly escrow account so when insurance and taxes are due, the money is available.
There are options available to help with closing costs as well. Most programs will allow the seller to pay up to 3% of the sales price towards your closing costs and “pre-pay” items. Take the time to investigate all your options and see how they fit in with your budget. Often, when closing costs are quoted, they don’t include the escrow, so be sure to ask about all fees. Be vigilant when choosing a lender. There have been instances in which buyers received a pre-approval letter, yet they weren’t actually pre-approved! As a Realtor®, when Darryl Baskin sees a pre-approval letter from TTCU, he knows he can trust it.
If the financing options listed above don’t meet your needs, TTCU offers additional programs, such as VA, bridge, home equity, and home improvement loans. Also, TTCU Federal Credit Union will take 0.125 off your interest rate when you close with them; the loan must be a purchase transaction and close at Integrity Title and Closing. TTCU offers some of the lowest closing costs in Tulsa! Visit ttcu.com to fill out an application online, or get more information.
Taking the time to research financing options is part of the “18 Essential Steps” suggested by Baskin Realty Specialists. Buying a home can be a challenge, but when done correctly, it’s a smooth process.
For more information on interest rates, or to complete a loan application online, contact Dan Newbury at TTCU Federal credit Union or visit ttcu.com.
To schedule an appointment with Baskin RE Specialists, with no obligation, visit askinforbaskin.com.
- 7957 S 78th East Ave – 4BR, 3 baths, 2-car garage, outside entrance office, pergola. $225,000
- 8954 W 51 St – 5 acres, 9042 SF welcoming, beautiful family home with classic colonial style entry. The 8-car garage offers room for a workshop or storage. $999,999
- 6708 S Atlanta Pl – 5BR, 3 full baths, office w/separate entrance, new hardwood floor, 2 bedrooms downstairs and optional 2nd master upstairs with private staircase $296,000
To hear more on the 18 Essential Steps of Buying a Home in Tulsa, click here
Buying a home is a process with many steps involved. We at Baskin Real Estate Specialists, have broken down the home buying process into 18 essential steps. We take the time to sit down with you and walk you through each of those steps.
We understand that every homebuyer has different needs, and those needs vary on the stage of life you’re in. Our main goal isn’t to get a deal closed as quickly as possible; we’re in the business of building life-long relationships. We do that by keeping our clients best interests close at heart and finding the house that’s perfect for them.
If you’re thinking of buying or selling a home in the Tulsa, OK region, reach out to Baskin Real Estate Specialists for a complimentary meeting. There’s no obligation and no cost. We would love the opportunity to meet with you to tell you why we have been in business for so long and why we have great customer satisfaction ratings.
To schedule a complimentary appointment, contact The Baskin Real Estate Specialists of eXp Realty at 918-732-9732 or schedule an appointment online at askinforbaskin.com
Click here to join “The Future of Real Estate” and hear Daniel’s experience buying his first home in the Tulsa area.
Daniel is a first time home buyer in Tulsa. He recently closed on his first home and has useful feedback for fellow first time home buyers.
Daniel was surprised by how calm he felt through the process. After hearing stories from friends, he had expected the process of buying his first home to be stressful. He attributes the smooth process to Darryl Baskin from Baskin Real Estate Specialists. Darryl made sure Daniel was well informed throughout the entire process. As a result, Daniel was never surprised and didn’t experience many issues.
Darryl attributes the ease of the process to Daniel taking the time to plan properly. Daniel’s financial planning and preparation prior to beginning his home search helped make the process smooth. Obtaining pre-approval ahead of time allows the home buyer to budget properly and know their price limit.
Daniel took the time to look at houses online to see how much houses in Tulsa are listed for. He also began to compare features to determine his “must have’s”. He began this process a year before setting out to seriously look at homes.
There were a few speed bumps along the way. Daniel lost the first property he made an offer on. Another home buyer made a cash offer first. As a result, the seller chose the cash offer. Multiple offers on a home aren’t uncommon. This is another reason why having pre-approval can be beneficial. When receiving multiple offers on a home, the seller may choose the buyer who has been pre-approved.
When buying your first home in Tulsa, take the time to research, plan, save, and get pre-approval on a home loan. It also helps to attend a first-time home buyer class. Baskin Realty Specialists and TTCU Federal Credit Union are currently planning a first-time home buyer class!
Visit TTCU Federal Credit Union to review their financing options. They offer four different 100% lending options. This means you don’t put any down, you only pay closing costs. TTCU Federal Credit Union offers some of the lowest closing costs in Tulsa. In addition, when you close with TTCU Federal Credit Union, you receive .125 off your interest rate when the loan is a purchase transaction and close with Integrity Title and Closing. Visit ttcu.com for additional details.
For more real estate questions, contact The Baskin Real Estate Specialists of eXp Realty at 918-732-9732 or darrylbaskin.com