The Popularity of Home Renovation

Choosing to renovate your Tulsa home is a big decision.  In a recent blog post, "Home Renovation...Is It Worth It?",  several suggestions are given when making that monumental decision, including figuring cost and value as well as finding professionals.   Visit the article above for details. 

Tulsa TItle Basics

When it comes to titles on your Tulsa area property, there can be much confusion. Should you hire a Tulsa area attorney to write a title opinion or should you go to a Tulsa Title and Abstract Company for help?  Tulsa Realtor, Darryl Baskin, gives us some title basics to help stop the confusion.  Read his post, "Tulsa Area Title's- What's the Deal?" at www.darrylbaskin.com. 

What is the Mortgage Disclosure Improvement Act?

Lenders have always had to disclose the overall cost of your loan and other information during the lending process. This includes fees and the actual Annual Percentage Rate. Lenders that are not reputable would play games with the rate by adding fees. Many clients would close with a higher rate because the lenders would change the fees at the last minute. This act requires that lenders redo the Truth in Lending disclosure if the APR goes up by .125% or more. It also requires that closing must wait 3-7 days so that the buyers have time to understand any changes that may have happened. This can sometimes cause an issue when purchasing a home because this waiting time can't be waived. It is required and closing will sometimes be delayed. This also can increase costs for the seller and buyer for items such as interest, storage costs due to delayed closing and more.

For your Tulsa, OK. area mortgage, contact Karen Heston with Bank of Oklahoma Mortgage at 918-230-9432 or kheston-boklo.mortgagewebcenter.com

For all your Tulsa, Oklahoma area real estate needs, contact Darryl Baskin, McGraw Realtors at 918-258-2600 or www.darrylbaskin.com.

Handling Fraud in Title Insurance....

Handling fraud in any situation is difficult. When it comes to title insurance, there are some things to keep in mind. First, let's define title insurance. Title Insurance is insurance that covers financial loss as a result of a defect in a title to real estate. Second, we need to know what period the insurance will cover. When we buy home or auto insurance, we are covering our home or auto from the time we purchase the policy until that point in the future that the coverage is canceled. With title insurance, though, it works in reverse. Title insurance covers from the moment you purchase your home and into the past. If you are sued after you close on the property, then the title insurance may not cover you. Finally, title insurance issues can be quite trick. To ensure that you are covered for everything you need, talk to your attorney or your title company. You may even consider asking for extended coverage on your title insurance to cover you from your real estate purchase into the future.

If you have legal problems with your Oklahoma title, contact David Keesling at Richardson, Richardson, Boudreaux, Keesling at 918-492-7674 or www.rrblawok.com.

To purchase Tulsa title insurance or if you have questions about Oklahoma title insurance, contact Karen Burnette of Firstitle at 918-493-2241 or www.firstitle.com

For all your Oklahoma property, auto, and life insurance needs and more, contact Mike Tedford, Tedford Insurance at 918-299-2345 or www.tedfordinsurance.com

For all your Tulsa, Oklahoma area real estate needs, contact Darryl Baskin of McGraw Realtors at 918-258-2600 or www.darrylbaskin.com

What is a Petition to Partition?

A petition to partition may occur when property held by more than one party (co-owners) is split up legally because the parties can't agree on what should be done with the property. Many times, people will purchase a property with a friend or family member, only to find that years later a strain happens in the relationship and one or both parties want to sell their share in the property. That in itself is not a big problem, unless the parties disagree about what should happen with the property. When a disagreement happens, that can't be resolved, it is important for each party to seek an attorney. Usually, cases like this will end up before a judge. Each party will lay out their interest for the property and the judge will determine what will happen with it, including the interest each party will have. The judge can also appoint appraisers to determine the property value. Getting to this point will usually cost quite a bit of money in legal fees. To avoid this type of situation, contact an attorney to discuss plans before a contract is signed.

If you have questions regarding a Petition to Partition or other Oklahoma legal issues, contact David Keesling with Richardson, Richardson, Boudreaux, Keesling at 492-7674 or www.rrblawok.com.

Find Tulsa area homes for sale, tips for Tulsa area buyers and sellers, and more at www.homeguidetulsa.com.

For all your Tulsa, OK. area luxury real estate needs contact Darryl Baskin, McGraw Realtors, 918-258-2600, www.tulsaluxurypropertygroup.com or www.darrylbaskin.com.

De-stressing the Closing Process

Buying and Selling a home can be a stressful process, but when the closing process doesn't happen smoothly, it can add even more stress. Here are a few tips to help the closing process happen without a few of the most common glitches. First, listen to the professionals. If your real estate agent or mortgage broker gives you suggestions for the closing and moving process, heed their advice. They see problems regularly and can help you avoid some of the most common problems. Second, pack and move out of the house as early in the day, or even the night before, as possible and schedule closing for the afternoon. For buyers, schedule the final walk through earlier in the day as well. This added time should help with any unplanned delays. Third, consider adding a little extra expense to your budget in case there is a delay in closing and storage or hotel costs are needed or you need to hire a professional for an unexpected home repair. Finally, ask for a final settlement statement a day or two in advance of closing so that there last minute surprises are kept to a minimum.

For more information on the closing process or if you are in need of Tulsa area closing services, contact JJ Pierce, FirsTitle, 918-493-2241 or www.firstitle.com

For all your Tulsa mortgage needs, contact Steve Currington, Currington Mortgage, 918-394-LOAN or www.curringtonmortgage.com

For all your Tulsa, Oklahoma area real estate needs, contact, Darryl Baskin, McGraw Realtors, 918-258-2600 or www.darrylbaskin.com.

Mortgage Rates Rise...

Freddie Mac reported that mortgage rates are on the rise after being at a "standstill" last month. Despite this, mortgage rates are very affordable. Read the article, "Mortgage Rates on the Rise" found at Realtor Magazine below:

After being mostly at a standstill the past month, long and short-term mortgage rates were moving up this week, reports Freddie Mac in its weekly mortgage market survey.

"Mortgage rates followed Treasury yields higher over the holiday week but remain quite affordable by historical standards,” says Frank Nothaft, chief economist at Freddie Mac. “For instance, interest rates on all mortgage outstanding in the first quarter of this year averaged just under 6 percent. With today's rates, these home owners who have the ability to refinance could shave $169 per month in interest payments on a $200,000, 30-year fixed mortgage."

To buy a Tulsa home while rates are still low, contact Kelly Howard, McGraw Realtors, 918-230-6341 or www.kellyhowardhomes.com.