Saturday, February 22, 2020

Who pays for what?

Below you will find the customary distribution of expenses for the purchase of real estate in Texas. Keep in mind that many of these items can be negotiated by either party at the time of the offer, excluding some expenses the lender requires the seller to pay and/or VA prohibits the veteran to pay.

Buyer typically pays for:
• Escrow fees
• Document preparation (if applicable)
• Recording charges for all documents related to the transfer of title to the buyer
• Prorated share of taxes (from the date of acquisition)
• All new loan charges and fees (except those the lender requires the seller to pay), including
     o Appraisal
     o Credit report
     o Tax service fee
     o Loan origination/discount fee
     o Reserves for taxes and insurance
     o Flood certification
     o Mortgage insurance premium
• Title insurance premium: Lender’s Policy
• Interest on the new loan from the date of funding to 30 days prior to the first payment date
• Inspection fees
• Homeowner’s transfer fee (if applicable)
• Fire insurance premium for the first year.

Seller typically pays for:
• Real estate agent’s commission(s)
• Escrow fees
• Payoff of all loans in the seller’s name (unless the existing loan balance is being assumed by the buyer), including
     o Interest accrued to the lender for total pay off
     o Statement fees, release fees and any prepayment penalties
• Home warranty (according to contract terms)
• Any judgments, tax liens, etc. against the seller
• Prorated share of taxes (for any taxes unpaid at the time of transfer of title)
• Any unpaid homeowners association dues
• Recording charges to clear all documents of record against the seller
• Any outstanding assessments
• Any and all delinquent taxes
• Title insurance premium: Owner’s policy
• Seller credit for closing costs (according to contract terms)

Wednesday, February 19, 2020

Moving Checklist

Preparation and organization are key in determining the stress level of your move. Follow the steps below to ensure your move will be smooth.

One Month Before the Move:
• Select a mover or truck rental company.
• Make baby sitter and/or pet care arrangements for moving day.
• File a change of address form at the Post Office.
• Change address on all newspaper and magazine subscriptions.
• Arrange for the transfer of all medical, dental and school records.
• Transfer medical, property, fire and auto insurance.
• Organize all move-related documents in one place, such as a folder or binder - fireproof if possible.

Two Weeks Before the Move:
• Cancel or transfer all utilities (water, gas, electric, telephone, TV, cable, satellite, internet)
• Check with your provider about cell phone service in your new location.
• Transfer prescriptions to a pharmacy near your new location.
• Transfer bank accounts.
• Collect or purchase all packing supplies: boxes, wrapping paper, bubble wrap, labels, markers, box cutters, scissors and packing tape.
• Pack up items in garage, attic and storage areas.
• Confirm arrangement with movers or truck rentals.

One Week Before the Move:
• Begin packing boxes. Label each as you fill it. Consider room-designated packing tape.
• Empty, defrost and clean refrigerator, freezer and stove.
• Return all rented movies, library books, video games, etc.
• Pick up anything outstanding such as dry cleaning, prescriptions, etc.

The Day Before the Move:
• Perform a final check of closets, cabinets and drawers.
• Ensure you have enough cash on hand for the move.
• Take out all trash.
• Fully charge all cell phones.
• Touch base with movers or truck rental company for the final confirmation of arrangements.

The Day of the Move:
• Ensure all transportation is fully fueled and tires are properly inflated.
• Exchange contact information with the movers to ensure you can contact them while in route. Include your old and new addresses, cell phone numbers and directions to new location.
• Keep jewelry and other valuables with you in a box that you move yourself.
• Prepare a box of supplies that you'll need on move-in day, such as cleaning supplies, snacks, drinking water, toiletries, bath items, bedding, trash bags, disposable dishes, pet food, cell phone chargers, prescriptions, eyeglasses, changes of clothing, etc.
• Perform a final check before locking the doors. Confirm that the furnace/air conditioner, lawn sprinklers, and light switches are all turned off.
• Ensure you have properly transferred the house keys, secondary keys, mail keys and garage door openers.

Immediately After the Move for Leases
• Complete the Residential Lease Inventory and Condition Form and return to the email address in Paragraph 32 (unless stated otherwise) within the number of days stated in Paragraph 15 (normally 3 to 7 days).

Friday, February 14, 2020

Happy Valentine's Day!

photos Mark M. Hancock / ©

Get a Kiss, Give a Kiss
Then, please pass this card forward!

Thursday, February 6, 2020

FREE Interactive Home Selector is Available

I look forward to working with you and making your transition as smooth as possible. Please email to get a FREE interactive PDF of the Home Selector form shown here. You can input and Save the information you add securely on your own computer.

You can fill it out for yourself to safely search on or send me a completed copy to let me custom-deliver home options to your secure email inbox. Call, text or email me to get this form for lease home options.

If you prefer, you can download and print the Home Selector form from this page. If you're looking for a home, is tied directly to the MLS (Multiple Listing Service), so you can be confident that you only see accurate, timely and safe options directly from the service professional REALTORS® use.
There are some posts on this blog designed for your convenience and peace of mind. You will want to start on the Index page. It has links to all the information you'll need to make informed decisions. The most important posts are these:

House Buyers:
What buyers should expect
Avoid scams
Your credit score and options
School district scores, schools and feeder patterns
 (select districts)
Who pays for what?

House leases:
What to expect when leasing a house
Avoid scams
Your credit score and options
School district scores, schools and feeder patterns
 (select districts)
Who pays for what?

I look forward to seeing what properties you have chosen. I'll investigate any multiple offer or application situations, arrange access and give you the route details for our private tour.

My services are almost always paid by the sellers to be at no cost to buyers and tenants. You need a trustworthy, full-time professional Realtor on your side to guide you through the process. I'm at your service.

Mark M. Hancock, GRI, MRP, AHWD
REALTOR, New Build certified

Welcome to the DFWmark Blog!

Welcome to the DFWmark Blog! This is a collection of content by Mark M. Hancock, a REALTOR with Keller Williams North County in Celina...