real estate brokers and

DOL - Real Estate Real Estate WELCOME to the website for the Real Estate program of the Business and Professions Division of the Department of Licensing. The Real Estate program, in conjunction with the Washington Real Estate Commission, provides public protection in the real estate marketplace through the education and licensure of real estate brokers and salespersons. The Washington Real Estate Commission is appointed by the Governor to advise the Director regarding the rules and regulations governing the activities of real estate licensees. The commission is authorized to hold educational conferences and authorized to prepare and conduct examinations for licensure. WHAT'S NEW: Online Renewal Service Available Real Estate Licensees now have the option of renewing online. The online renewal process can be used to provide continuing education and renewal payment information using a Visa or MasterCard debit or credit card, along with a unique password, which will be shown on your Notice to Renew. When the Renewal process is complete, a confirmation screen will be displayed that you can print for your records. Your license will be sent to the address on file within 14 business days.This alternative approach to renewing will provide a convenient and efficient process that is currently in use by many other departments. If you have any questions, please contact Real Estate Licensing by calling (360) 664-6500 or via email at RealEstate@dol.wa.gov . New Real Estate Administrator Mr. Lee Malott has accepted the Real Estate Administrator position.Lee comes to us from the east side of the mountains from the great city of Walla Walla and brings a wealth of knowledge and experience with him from the private sector. Lee has 10 years experience as a real estate salesperson and has been a memberof the Washington Association of Realtors. His most recent years of his career have been spent successfully in the hospital administration arena--leading large groups of employees working in hospital/nursing home settings. Lee will join us on Monday, October 17th as Real Estate, Appraiser, Timeshareand Camp Resort Section Administrator. 18.85 RCW Revision Task Force Information Join our mailing list - If you are interested in becoming a subscriber, you can sign onto the DOL Real Estate Program LISTSERV® today. There is no cost to subscribe and you may delete your address at any time. Change in Real Estate Fees - Effective June 27, 2005, the Department of Licensing is suspending the collection of the $26.50 fee for name and address changes and transfer. (WAC 308-124A-460) As a reminder, requests for the above changes postmarked before June 27, 2005 must still submit the required fee. Questions? Call (360) 664-6500 or email realestate@dol.wa.gov. As part of the Department of Licensing's ongoing initiative to ensure that real estate licensees endeavoring to earn the broker's (or associate broker's) license are receiving appropriate pre-license training, the Washington Center for Real Estate Research (WCRER) is coordinating a curriculum review. The current contents of the Brokerage Management and Business Management courses were adopted in late 1995 or early 1996, and have not been substantially reviewed until now. If you have recently taken either or both of those courses and have suggestions for modification to their content or emphasis, please forward your suggestions to the WCRER at wcrer@wsu.edu. Prescribed Core Curriculum Requirement The Washington State Real Estate Commission and Department of Licensing have adopted new rules that will require the completion of 3 clock hours of prescribed core curriculum, beginning with renewal dates on or after June 1, 2004. Core CurriculumRequirement Scenarios Notice to all Active Real Estate Licensees and Real Estate Schools Recognition Agreements Check the statusof a professional license. - An Internet-based application designed to give you access to Professional Licensing data. You can navigate the system using full and partial name, license number and other search criteria to perform searches for professional licensing information. FEATURES: Audit Guidelines Real Estate Resources - ARELLO Publications available. Washington State Guidelines for Advertising and Procuring Prospects on the Internet - Adopted September 19, 2000 Guidelines for Using Unlicensed Assistants SERVICES PROVIDED: Washington Real Estate Salesperson's License. Washington Real Estate Broker's License. Information on Examination Locations and Times. Information on Education Services and Publications. Prescribed Core CurriculumRequirement The department has revised its course approval application toprovide for approved providers to designate a course as including theprescribed curriculum. (Word Document) Information on Washington Center for Real Estate Research. - (To be able to use this link, your browser will need to support frames.) PUBLICATIONS: Real Estate Course Catalog Real Estate License Disciplinary Guidelines Washington Real Estate Curriculums For Real Estate related questions please e-mail RealEstate@dol.wa.gov . For Real Estate Audit related questions please e-mail ReAudit@dol.wa.gov . Mailing Address: Department of Licensing Real Estate Audit Section PO Box 2445 Olympia, WA 98507-2445 Phone Number: (360) 664-6515 Fax Number: (360) 570-4941 Please view the right side of this website for the various Real Estate licensing section's telephone and fax numbers. What's New Fees Forms Services Features Publications Meetings & Minutes FAQs Professional Licensing Internet Query Brokers License Salespersons License Appraisers Main Page Real Estate Education Washington Real Estate Commission Real Estate Complaint Form Real Estate Licensing Program Disciplinary Actions Washington Real Estate Licensing Law: RCW 18.85 Real Estate Brokerage Relationships: RCW 18.86 General Provisions: WAC 308-124 Licensing & Exams WAC 308-124A Brokers Office WAC 308-124B Records WAC 308-124C Operational Procedures WAC 308-124D Trust Accounts WAC 308-124E Education WAC 308-124H URBP - RCW 18.235 Telephone: Salesperson & Brokers Licensing Section: (360) 664-6488 or (360) 664-6500 Fax: (360) 586-0998 Education Section: (360) 664-6505 Fax: (360) 570-4977 Real Estate Audit Section: (360) 664-6515 Fax: (360) 570-4941 Office Hours: 8:00 a.m. to 5:00 p.m. Fees Accepted: 8:30 a.m. to 4:30 p.m. Pacific Time Monday through Friday Write: Department of Licensing Real Estate Program PO Box 9015 Olympia, WA 98507-9015 Business Location: 2000 4th Avenue West, Olympia, WA 98502 E-Mail: RealEstate@dol.wa.gov ReAudit@dol.wa.gov

Texas Land Trusts About

TPWD:About Texas Land Trusts Maincontent Local Navigation print friendly search Regulations Publications Outdoor Learning Kids Game Warden Grants Get Involved Shop FAQ Calendar Español Experience Texas Fishing & Boating State Parks & Destinations Hunting & Wildlife Land & Water Doing Business Home Land & Water Land Private Tltc Texas Land Trusts About Texas Land Trusts Starting a Land Trust Texas Land Trust Directory Foreword Listing Regional Index About the Texas Land Trust Council ( TLTC ) TLTC Board of Directors and Honorary Council News 2004 TLTC Conference Speech Bulletin Board TLTC Publications Land Trust Resources Texas Land Trusts Top 1-Million Mark in Acres Conserved Texas Land Trusts What is a land trust? A land trust is a local, state or regional nonprofit organization directly involved in protecting land for its natural, recreational, scenic, historical or productive value. How do I find a land trust in my area? There are currently 39 land trusts in Texas. Let the Texas Land Trust Directory be your guide in locating a land trust close to you. How do you start a land trust? Setting up a land trust requires careful research and planning. The Texas Land Trust Council has compiled many of the resources you need to answer your questions and establish a successful land trust. About the Texas Land Trust Council The Texas Land Trust Council is committed to promoting and sustaining the conservation efforts of Texas's land trusts. Learn more about the growing number of Texans protecting our distinct heritage . What's a conservation easement? A conservation easement ( PDF 1.6 MB ) is a restriction landowners voluntarily place on specified uses of their property to protect natural, productive or cultural features. It is recorded as a written legal agreement between the landowner and the "holder" of the easement, which may be either a nonprofit conservation organization or government agency. Contact Us | Help | Accessibility | Media | Site Policies | Complaints | Intranet | State of Texas | TRAILS Search | TexasOnline | Compact with Texans Texas Parks and Wildlife Department , 4200 Smith School Road, Austin, TX 78744 Toll Free: (800) 792-1112, Austin: (512) 389-4800 Content of this site © Texas Parks and Wildlife Department unless otherwise noted. Last modified: October 12, 2005, 12:46 pm

Real Estate Listing

OrlandoSentinel.com: Real Estate : Orlando and Central Florida Real Estate, Homes For Sale, Condos For Sale, Vacation Rentals, Land For Sale, and More Real Estate JOBS CARS REAL ESTATE SHOPPING PLACE AN AD 7-DAY SEARCH: OUR SITE WEB ENHANCED BY RSS NEWS FEED: HOME PAGE NEWS SPORTS BUSINESS ENTERTAINMENT LIFESTYLE WEATHER OPINION TRAVEL MULTIMEDIA MARKETPLACE SITE INDEX PLACE A CLASSIFIED AD JOBS Print & Online FlexAd: Individual Advertisers Agencies & Contract Accounts Print and Online | Online Only REAL ESTATE Print & Online Rental Online Only CARS Print & Online Online Only GENERAL CLASSIFIEDS Merchandise, Financial, Announcements, Training & Education, Pets By phone: 407-420-5757 or online: Print & Online OBITUARIES By phone: 407-420-6006 By fax: 407-420-5145 or Email a notice NOTICES/CELEBRATIONS Notices: By phone: 407-420-5757 or online: Print & Online Celebrations: By phone: 407-420-5696 or online: Print & Online For more information on placing a Classified ad, please contact our qualified representatives for personalized attention: 407-420-5757 1-800-669-5757 (toll-free) Monday-Friday, 8 a.m. to 5 p.m. ATTENTION REALTORS Click here for information about advertising in the new Weekend Home Preview section of the Orlando Sentinel newspaper. Find a Home: Search listings from brokers, builders and classifieds. All Homes New Construction Resale Homes City, Neighborhood, or ZIP: State: Choose from a list AK AL AR AZ CA CO CT DC DE FL GA GU HI IA ID IL IN KS KY LA MA MD ME MI MN MO MS MT NC ND NE NH NJ NM NV NY OH OK OR PA RI SC SD TN TX UT VA VT WA WI WV WY Price Range: No minimum $10,000 $20,000 $30,000 $40,000 $50,000 $60,000 $70,000 $80,000 $90,000 $100,000 $125,000 $150,000 $175,000 $200,000 $225,000 $250,000 $275,000 $300,000 $325,000 $350,000 $400,000 $450,000 $500,000 $550,000 $600,000 $650,000 $700,000 $750,000 $800,000 $850,000 $900,000 $950,000 $1,000,000 $1,500,000 $2,000,000 $3,000,000 $3,500,000 $4,000,000 to No maximum $10,000 $20,000 $30,000 $40,000 $50,000 $60,000 $70,000 $80,000 $90,000 $100,000 $125,000 $150,000 $175,000 $200,000 $225,000 $250,000 $275,000 $300,000 $325,000 $350,000 $400,000 $450,000 $500,000 $550,000 $600,000 $650,000 $700,000 $750,000 $800,000 $850,000 $900,000 $950,000 $1,000,000 $1,500,000 $2,000,000 $3,000,000 $3,500,000 $4,000,000 Property Type: Any Single Family Home Building Unit Co-Op Unit Condominium Unit Duplex Farm Houseboat Mobile Home Raw Land Row House Townhouse/Townhome Bedrooms: Bathrooms: Any 1+ 2+ 3+ 4+ 5+ Any 1+ 2+ 3+ 4+ 5+ Advanced Search Click on the map to search by location: Or search by location from the list: Brevard County Lake County Marion County Orange County Osceola County Polk County Seminole County Volusia County Find a Builder by Name: Select One Del Webb Pringle Development Choose a County/Area: Select One Brevard County-- Lake County Marion County Orange County Osceola County Polk County-- Seminole County-- Volusia County Enter your home search criteria once, and get home matches directly in your inbox. Get the latest listings first! Set up an Alert >> Search by Web# or MLS# Advanced | National | Apartments | School Scores | Email Alerts SELL YOUR PROPERTY Reach motivated buyers! Online-only packages starting at $99 - click here Print and online packages starting at $124.99 - click here RESOURCES Mortgage Guide Virtual Tours Home Sale Prices Community Information Find a Realtor Orlando New Homes Apartments / Rentals What's Selling Gallery Orlando Schools Relocation Package New Home Specials Storage Finder -- FLORIDA LIFESTYLE ACTIVE ADULTS Year-round golf, social activities and recreation - the good life in one place. Click Here COASTAL LIVING Beaches, breezes, sunsets, sun - life built around a relaxing coastal setting. Click Here MASTERPLAN Work, school, golf, recreation, shopping - all within a single community. Click Here URBAN LIVING Condos, townhomes, cosmopolitan & downtown living have arrived in Orlando. Click Here COMMUNITY INFORMATION NEW! Population, financial, environment, and crime information on Central Florida communities HOME AND LIFESTYLE Check out the latest issue of From House to Home , a home and lifestyle magazine from the Orlando Sentinel. Tools for Buying and Selling Find a Realtor Find a Mortgage Search the Orlando & Central Florida area to find a Realtor who can assist you with your real estate needs. Search by county. Pick a County Lake County Orange County Osceola County Seminole County Volusia County Select purpose of Loan: Refinance Purchase Select a loan type: Fixed 40 yr Fixed 30 yr Fixed 20 yr Fixed 15 yr Fixed 10 yr Fixed balloon 5/25 Fixed balloon 7/23 Adj 1 yr Treasury index Adj 1 mo LIBOR Adj 1 yr COFI Adj 3/1 yr Adj 5/1 yr Adj 7/1 yr Adj 10/1 yr VA fixed 30 yr VA fixed 15 yr VA adj 3/1 yr VA adj 5/1 yr VA adj 7/1 yr FHA fixed 30 yr FHA fixed 15 yr FHA adj 1 yr FHA adj 3/1 yr FHA adj 5/1 yr FHA adj 7/1 yr Discount point range: 0 points 0.125-1 1.125-2 2.125 + All Estimated loan amount: Homes & Real Estate Features Is Tiger moving to South Florida? After a decade in Orlando, Tiger Woods may be headed to greener pastures. Or more watery ones, anyway. 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Home Mortgage Insurance Home

Looking for the Best Mortgage ESPAÑOL Shopping around for a home loan or mortgage will help you to get the best financing deal. A mortgage--whether it’s a home purchase, a refinancing, or a home equity loan--is a product, just like a car, so the price and terms may be negotiable. You’ll want to compare all the costs involved in obtaining a mortgage. Shopping, comparing, and negotiating may save you thousands of dollars. Skip to content Obtain information from several lenders Obtain all important cost information Obtain the best deal that you can Remember: Shop, compare, negotiate Fair lending is required by law Credit problems? Glossary Mortgage shopping worksheet For more information Obtain Information from Several Lenders Home loans are available from several types of lenders-- thrift institutions , commercial banks, mortgage companies, and credit unions. Different lenders may quote you different prices, so you should contact several lenders to make sure you’re getting the best price. You can also get a home loan through a mortgage broker . Brokers arrange transactions rather than lending money directly; in other words, they find a lender for you. A broker’s access to several lenders can mean a wider selection of loan products and terms from which you can choose. Brokers will generally contact several lenders regarding your application, but they are not obligated to find the best deal for you unless they have contracted with you to act as your agent. Consequently, you should consider contacting more than one broker, just as you should with banks or thrift institutions. Whether you are dealing with a lender or a broker may not always be clear. Some financial institutions operate as both lenders and brokers. And most brokers’ advertisements do not use the word "broker." Therefore, be sure to ask whether a broker is involved. This information is important because brokers are usually paid a fee for their services that may be separate from and in addition to the lender’s origination or other fees. A broker’s compensation may be in the form of "points" paid at closing or as an add-on to your interest rate , or both. You should ask each broker you work with how he or she will be compensated so that you can compare the different fees. Be prepared to negotiate with the brokers as well as the lenders. Obtain All Important Cost Information Be sure to get information about mortgages from several lenders or brokers. Know how much of a down payment you can afford, and find out all the costs involved in the loan. Knowing just the amount of the monthly payment or the interest rate is not enough. Ask for information about the same loan amount, loan term, and type of loan so that you can compare the information. The following information is important to get from each lender and broker: Rates Ask each lender and broker for a list of its current mortgage interest rates and whether the rates being quoted are the lowest for that day or week. Ask whether the rate is fixed or adjustable . Keep in mind that when interest rates for adjustable-rate loans go up, generally so does the monthly payment. If the rate quoted is for an adjustable-rate loan, ask how your rate and loan payment will vary, including whether your loan payment will be reduced when rates go down. Ask about the loan’s annual percentage rate (APR) . The APR takes into account not only the interest rate but also points, broker fees, and certain other credit charges that you may be required to pay, expressed as a yearly rate. Points Points are fees paid to the lender or broker for the loan and are often linked to the interest rate; usually the more points you pay, the lower the rate. Check your local newspaper for information about rates and points currently being offered. Ask for points to be quoted to you as a dollar amount--rather than just as the number of points--so that you will actually know how much you will have to pay. Fees A home loan often involves many fees, such as loan origination or underwriting fees , broker fees, and transaction, settlement, and closing costs . Every lender or broker should be able to give you an estimate of its fees. Many of these fees are negotiable. Some fees are paid when you apply for a loan (such as application and appraisal fees), and others are paid at closing. In some cases, you can borrow the money needed to pay these fees, but doing so will increase your loan amount and total costs. "No cost" loans are sometimes available, but they usually involve higher rates. Ask what each fee includes. Several items may be lumped into one fee. Ask for an explanation of any fee you do not understand. Some common fees associated with a home loan closing are listed on the Mortgage Shopping Worksheet in this brochure. Down Payments and Private Mortgage Insurance Some lenders require 20 percent of the home’s purchase price as a down payment. However, many lenders now offer loans that require less than 20 percent down--sometimes as little as 5 percent on conventional loans . If a 20 percent down payment is not made, lenders usually require the home buyer to purchase private mortgage insurance (PMI) to protect the lender in case the home buyer fails to pay. When government-assisted programs such as FHA (Federal Housing Administration), VA (Veterans Administration), or Rural Development Services are available, the down payment requirements may be substantially smaller. Ask about the lender’s requirements for a down payment, including what you need to do to verify that funds for your down payment are available. Ask your lender about special programs it may offer. If PMI is required for your loan, Ask what the total cost of the insurance will be. Ask how much your monthly payment will be when including the PMI premium. Ask how long you will be required to carry PMI. Obtain the Best Deal That You Can Once you know what each lender has to offer, negotiate for the best deal that you can. On any given day, lenders and brokers may offer different prices for the same loan terms to different consumers, even if those consumers have the same loan qualifications. The most likely reason for this difference in price is that loan officers and brokers are often allowed to keep some or all of this difference as extra compensation. Generally, the difference between the lowest available price for a loan product and any higher price that the borrower agrees to pay is an overage . When overages occur, they are built into the prices quoted to consumers. They can occur in both fixed and variable-rate loans and can be in the form of points, fees, or the interest rate. Whether quoted to you by a loan officer or a broker, the price of any loan may contain overages. Have the lender or broker write down all the costs associated with the loan. Then ask if the lender or broker will waive or reduce one or more of its fees or agree to a lower rate or fewer points. You’ll want to make sure that the lender or broker is not agreeing to lower one fee while raising another or to lower the rate while raising points. There’s no harm in asking lenders or brokers if they can give better terms than the original ones they quoted or than those you have found elsewhere. Once you are satisfied with the terms you have negotiated, you may want to obtain a written lock-in from the lender or broker. The lock-in should include the rate that you have agreed upon, the period the lock-in lasts, and the number of points to be paid. A fee may be charged for locking in the loan rate. This fee may be refundable at closing. Lock-ins can protect you from rate increases while your loan is being processed; if rates fall, however, you could end up with a less favorable rate. Should that happen, try to negotiate a compromise with the lender or broker. Remember: Shop, Compare, Negotiate When buying a home, remember to shop around, to compare costs and terms, and to negotiate for the best deal. Your local newspaper and the Internet are good places to start shopping for a loan. You can usually find information both on interest rates and on points for several lenders. Since rates and points can change daily, you’ll want to check your newspaper often when shopping for a home loan. But the newspaper does not list the fees, so be sure to ask the lenders about them. The Mortgage Shopping Worksheet that follows may also help you. Take it with you when you speak to each lender or broker and write down the information you obtain. Don’t be afraid to make lenders and brokers compete with each other for your business by letting them know that you are shopping for the best deal. Fair Lending Is Required by Law The Equal Credit Opportunity Act prohibits lenders from discriminating against credit applicants in any aspect of a credit transaction on the basis of race, color, religion, national origin, sex, marital status, age, whether all or part of the applicant’s income comes from a public assistance program, or whether the applicant has in good faith exercised a right under the Consumer Credit Protection Act. The Fair Housing Act prohibits discrimination in residential real estate transactions on the basis of race, color, religion, sex, handicap, familial status, or national origin. Under these laws, a consumer cannot be refused a loan based on these characteristics nor be charged more for a loan or offered less favorable terms based on such characteristics. Credit Problems? Still Shop, Compare, and Negotiate Don’t assume that minor credit problems or difficulties stemming from unique circumstances, such as illness or temporary loss of income, will limit your loan choices to only high-cost lenders.If your credit report contains negative information that is accurate, but there are good reasons for trusting you to repay a loan, be sure to explain your situation to the lender or broker. If your credit problems cannot be explained, you will probably have to pay more than borrowers who have good credit histories. But don’t assume that the only way to get credit is to pay a high price. Ask how your past credit history affects the price of your loan and what you would need to do to get a better price. Take the time to shop around and negotiate the best deal that you can. Whether you have credit problems or not, it’s a good idea to review your credit report for accuracy and completeness before you apply for a loan. To order a copy of your credit report, contact: Equifax: (800) 685-1111 TransUnion: (800) 888-4213 Experian: (888) 397-3742 Glossary Adjustable-rate loans , also known as variable-rate loans, usually offer a lower initial interest rate than fixed-rate loans. The interest rate fluctuates over the life of the loan based on market conditions, but the loan agreement generally sets maximum and minimum rates. When interest rates rise, generally so do your loan payments; and when interest rates fall, your monthly payments may be lowered. Annual percentage rate (APR) is the cost of credit expressed as a yearly rate. The APR includes the interest rate, points, broker fees, and certain other credit charges that the borrower is required to pay. Conventional loans are mortgage loans other than those insured or guaranteed by a government agency such as the FHA (Federal Housing Administration), the VA (Veterans Administration), or the Rural Development Services (formerly know as Farmers Home Administration, or FmHA). Escrow is the holding of money or documents by a neutral third party prior to closing. It can also be an account held by the lender (or servicer) into which a homeowner pays money for taxes and insurance. Fixed-rate loans generally have repayment terms of 15, 20, or 30 years. Both the interest rate and the monthly payments (for principal and interest) stay the same during the life of the loan. The interest rate is the cost of borrowing money expressed as a percentage rate. Interest rates can change because of market conditions. Loan origination fees are fees charged by the lender for processing the loan and are often expressed as a percentage of the loan amount. Lock-in refers to a written agreement guaranteeing a home buyer a specific interest rate on a home loan provided that the loan is closed within a certain period of time, such as 60 or 90 days. Often the agreement also specifies the number of points to be paid at closing. A mortgage is a document signed by a borrower when a home loan is made that gives the lender a right to take possession of the property if the borrower fails to pay off the loan. Overages are the difference between the lowest available price and any higher price that the home buyer agrees to pay for the loan. Loan officers and brokers are often allowed to keep some or all of this difference as extra compensation. Points are fees paid to the lender for the loan. One point equals 1 percent of the loan amount. Points are usually paid in cash at closing. In some cases, the money needed to pay points can be borrowed, but doing so will increase the loan amount and the total costs. Private mortgage insurance (PMI) protects the lender against a loss if a borrower defaults on the loan. It is usually required for loans in which the down payment is less than 20 percent of the sales price or, in a refinancing, when the amount financed is greater than 80 percent of the appraised value. Thrift institution is a general term for savings banks and savings and loan associations. Transaction, settlement, or closing costs may include application fees; title examination, abstract of title, title insurance, and property survey fees; fees for preparing deeds, mortgages, and settlement documents; attorneys’ fees; recording fees; and notary, appraisal, and credit report fees. Under the Real Estate Settlement Procedures Act, the borrower receives a good faith estimate of closing costs at the time of application or within three days of application. The good faith estimate lists each expected cost either as an amount or a range. Mortgage Shopping Worksheet File for Printing Worksheet (12KB PDF) Lender 1 Lender 2 Name of Lender: ___ ___ Name of Contact: ___ ___ Date of Contact: ___ ___ Mortgage Amount: ___ ___ mortgage 1 mortgage 2 mortgage 1 mortgage 2 Basic Information on the Loans Type of Mortgage: fixed rate, adjustable rate, conventional, FHA, other? If adjustable, see below ___ ___ ___ ___ Minimum down payment required ___ ___ ___ ___ Loan term (length of loan) ___ ___ ___ ___ Contract interest rate ___ ___ ___ ___ Annual percentage rate (APR) ___ ___ ___ ___ Points (may be called loan discount points) ___ ___ ___ ___ Monthly Private Mortgage Insurance (PMI) premiums ___ ___ ___ ___ How long must you keep PMI? ___ ___ ___ ___ Estimated monthly escrow for taxes and hazard insurance ___ ___ ___ ___ Estimated monthly payment (Principal, Interest, Taxes, Insurance, PMI) ___ ___ ___ ___ Fees Different institutions may have different names for somefees and may charge different fees. We have listed some typical fees you may see on loan documents. Application fee or Loan processing fee ___ ___ ___ ___ Origination fee or Underwriting fee ___ ___ ___ ___ Lender fee or Funding fee ___ ___ ___ ___ Appraisal fee ___ ___ ___ ___ Attorney fees ___ ___ ___ ___ Document preparation and recording fees ___ ___ ___ ___ Broker fees (may be quoted as points, origination fees, or interest rate add-on) ___ ___ ___ ___ Credit report fee ___ ___ ___ ___ Other fees ___ ___ ___ ___ Other Costs at Closing/Settlement Title search/Title insurance For lender ___ ___ ___ ___ For you ___ ___ ___ ___ Estimated prepaid amounts for interest, taxes, hazard insurance, payments to escrow ___ ___ ___ ___ State and local taxes, stamp taxes, transfer taxes ___ ___ ___ ___ Flood determination ___ ___ ___ ___ Prepaid Private Mortgage Insurance (PMI) ___ ___ ___ ___ Surveys and home inspections ___ ___ ___ ___ Total Fees and Other Closing/Settlement Cost Estimates ___ ___ ___ ___ Lender 1 Lender 2 Name of Lender: mortgage 1 mortgage 2 mortgage 1 mortgage 2 Other Questions and Considerations about the Loan Are any of the fees or costs waivable? ___ ___ ___ ___ Prepayment penalties Is there a prepayment penalty? ___ ___ ___ ___ If so, how much is it? ___ ___ ___ ___ How long does the penalty period last? (for example, 3 years? 5 years?) ___ ___ ___ ___ Are extra principal payments allowed? ___ ___ ___ ___ Lock-ins Is the lock-in agreement in writing? ___ ___ ___ ___ Is there a fee to lock-in? ___ ___ ___ ___ When does the lock-in occur—at application, approval, or another time? ___ ___ ___ ___ How long will the lock-in last? ___ ___ ___ ___ If the rate drops before closing, can you lock-in at a lower rate? ___ ___ ___ ___ If the loan is an adjustable rate mortgage: What is the initial rate? ___ ___ ___ ___ What is the maximum the rate could be next year? ___ ___ ___ ___ What are the rate and payment caps each year and over the life of the loan? ___ ___ ___ ___ What is the frequency of rate change and of any changes to the monthly payment? ___ ___ ___ ___ What is the index that the lender will use? ___ ___ ___ ___ What margin will the lender add to the index? ___ ___ ___ ___ Credit life insurance Does the monthly amount quoted to you include a charge for credit life insurance? ___ ___ ___ ___ If so, does the lender require credit life insurance as a condition of the loan? ___ ___ ___ ___ How much does the credit life insurance cost? ___ ___ ___ ___ How much lower would your monthly payment be without the credit life insurance? ___ ___ ___ ___ If the lender does not require credit life insurance, and you still want to buy it, what rates can you get from other insurance providers? ___ ___ ___ ___ This brochure was prepared by the following agencies: Department of Housing and Urban Development Department of Justice Department of the Treasury Federal Deposit Insurance Corporation Federal Housing Finance Board Federal Reserve Board Federal Trade Commission National Credit Union Administration Office of Federal Housing Enterprise Oversight Office of the Comptroller of the Currency Office of Thrift Supervision These agencies (except the Department of the Treasury) enforce compliance with laws that prohibit discrimination in lending. If you feel that you have been discriminated against in the home financing process, you may want to contact one of the agencies listed above about your rights under these laws. For more information on home lending issues, visit ( http://www.consumer.gov ), write to the Federal Citizen Information Center, Pueblo, CO 81009 or visit the Center’s Web site at ( http://www.pueblo.gsa.gov ). The following brochures are available from the Center: A Consumer’s Guide to Mortgage Lock-Ins A Consumer’s Guide to Mortgage Refinancing Buying Your Home: Settlement Costs and Helpful Information Consumer Handbook on Adjustable Rate Mortgages Guide to Single Family Home Mortgage Insurance Home Buyer’s Vocabulary Home Mortgages: Understanding the Process and Your Rights to Fair Lending How to Buy a Home with a Low Down Payment How to Dispute Credit Report Errors The HUD Home Buying Guide What You Should Know About Home Equity Lines of Credit Home | Consumer information | Publications | Brochures | Accessibility | Contact Us Last update: January 22, 2004

Sell House

Boston.com / Real estate Buying Renting Recent sales Place an ad Luxury Living Community data Financing Commercial Moving Guides THE RIGHT LISTING AGENT Tips for home sellers to find a listing agent -- Interview at least three or four agents before making a choice. Sometimes a good agent can be found through recommendations from friends or relatives who have recently sold property. Many burrow their way through the Yellow Pages. Some pick up a name at the office water cooler or a health club. It's fine to happen onto names this way, as long as you follow up by screening candidates. Ask the right questions: • What is my home worth? The broker should prepare a market analysis recommending a selling price for your house. You should insist that the agents you interview provide detailed market information supporting whatever price they propose. You want to see "comparable sales" – that is, the selling prices of properties similar to yours, located in the same or similar neighborhoods, that have sold recently. You also want the agents to provide detailed information about current conditions in your market area. That information should include the average time properties are on the market before they sell, and a listing of homes similar to yours that are for sale. How are those homes priced and how does the broker explain the speed – or lack of speed – with which they are selling? You are not going to select the broker who recommends the highest selling price, tempting though that may be; you're going to select the one who seems most knowledgeable about your market, who gives you the most realistic assessment of how much you should ask for your house, and who can articulate the factors that are likely to enhance or impede its sale prospects. • What is your marketing plan for my home? Insist that the brokers you interview submit a comprehensive marketing plan, explaining precisely what steps they plan to take to sell your home. The plan should specify, among other details: - How, where, and how often the broker will advertise your property. Bear in mind that the major daily newspapers are not the only, or necessarily the best, advertising media. Depending on the property, the location and the market, community newspaper, direct mail and even handbills may be equally appropriate. - Will your broker list your house in the Multiple Listing Service, and if so, when? (The answers should be, "yes," and immediately after the agreement is signed.) - Will the broker hold one or more open houses for other brokers to introduce them to the property? (Definitely a good idea.) - How many buyer open houses will the broker host and how will those be advertised? - What repairs or improvements, if any, does the broker think will be needed? You should be concerned if the broker recommends a gut rehab, but listen carefully to suggestions that you do some repainting, trim the hedges, and repair broken railings. • What are the terms of the contract? Once you've selected your broker, pay careful attention to the terms of the listing contract. Make sure it obligates the broker to implement the key components of the marketing plan and allows you to terminate the agreement if the broker fails to do what the plan specifies. You also want to require the broker to report periodically, preferably in writing. Don't agree to an unnecessarily long listing term. TYPES OF CONTRACTS Exclusive right to sell. Most sellers use this. One agent is assigned your property to sell; if that listing broker sells the property, he or she gets the whole commission. If another agent sells, the commission is shared, usually equally. Exclusive agency listing. One agency gets the contract, but if you sell the property, you don't pay a commission. The disadvantage is that brokers may lose some incentive to sell, since you are competing with them. Open listing. Anyone can sell, including the owner, with only the selling broker getting a commission. Some brokers may want you to commit to a six-month listing, but you shouldn't accept a term any longer than 90 days. You always can renew a listing if you're satisfied with the broker's efforts. Also make sure you understand the listing terms. Most brokers will require what is known as an "exclusive agency" agreement. That means the broker will be entitled to a commission if the house is sold any time during the listing period (and for a specified period of time after it expires), even if the broker is not directly responsible for the sale. You should expect to pay a commission of around 6 percent. Although the fee is negotiable, as a practical matter, you won't find too much variation. • What are your references? Rarely do those signing on with a real estate agent check references the way they would when hiring an office employee. Any prospective agent should provide references readily. Goyeau said you should ask any reference you call, "Would you hire this agent again?" To gather accurate information on an agent, limit the references you use to those who have worked with the agent within the previous two years. "The agent could have been great five years ago, but slacked off lately for a variety of reasons," said Joan McLellan Tayler, the author of two real estate books. • Show me the statistics. Brokers should be able to present prospective clients with a computer printout that shows the number of sales they had in the last 12 months, the listing price, the selling price, and the length the homes stayed on the market, said Carol Brenner of Carol Brenner Realty in Newton Highlands. The difference between the initial listing price and the final selling price should be no more than five or 10 percent, she said. Also, an average home should not be on the market for more than three months, she said. What to look for in an agent: • A good reputation. Verify the reputation as well as the competence of any agent with whom you deal, so check with both the Board of Registration for Real Estate Brokers and Salesmen and the Better Business Bureau to see if there is a history of complaints against the broker or the broker's firm. Also contact friends, acquaintances and references the broker provides. "Sellers should look at the reputation of the firm and the integrity of the agent to be sure they are represented ethically and professionally," said Nora F. Moran, former president of the Greater Boston Real Estate Board. • Certification from a professional organization. There are a lot of real estate agents in the field, but not all of them are "Realtors," and you want to deal only with agents who have that (R) designation. That indicates the agent belongs to the National Association of Realtors, which implies a level of professional training and commitment, and adherence to ethical standards that you can't otherwise assume. Ask brokers if they have "board designations," or certification from professional organizations. For example, CRS stands for certified residential specialist, and is the toughest level to achieve in residential sales. It's awarded by the Residential Sales Council, a group with the National Association of Realtors, and requires the completion of course and a certain level of experience. The National Association of Realtors also certifies brokers as having completed the GRI – graduate realtor institute – a less-arduous set of courses, brokers say. • Someone you feel comfortable with. When choosing a broker to list a home with, you need someone you feel comfortable with, said John Neale, a broker with Sprogis Real Estate in the South End. "If you get a good feeling from a broker, a buyer is going to get that same good feeling, too. That's going to help you sell your house," he said. • An agent who specializes in your community. You could hire a perfectly good agent from across town. But unless that agent is well-known in your area, he may fail to fulfill the potential of your home sale. Why? Because real estate is a cooperative profession, and the odds are good it will be a local agent who brings you the right buyer for the best price and terms. More tips: • Try to work in concert with the agent you choose. Homeowners are sometimes resistant to the suggestions of their listing agents on matters as basic as keeping their property clean and their beds made. A capable, committed agent is worthy of your respect and cooperation. As Tayler explained, "The relationship between an agent and a client is supposed to be a partnership. That's how you sell your property fast and for top dollar." • Consider asking for an agent who meets your specific needs. Are you a young mother compelled to sell your home due to a divorce? Then perhaps you'd be most comfortable working with an agent who has a similar background. Likewise, a senior might wish to seek an older agent who understands the art of downsizing. One way to locate an agent whose background mirrors your needs is to call the owner, broker or sales manager of a realty office in your area. Be candid about your situation and ask for several names, said Tayler, who operated her own real estate company for 17 years. • Don't give your business to someone as a favor. With more than a half-million Americans involved in real estate sales, chances are you have a friend or relative in the field. Don't engage an agent solely on the basis of friendship or to do a favor. There's too much at stake. This article was compiled from the Boston Globe archives. feedback | help | site map | advertising | globe archives | rss © 2006 The New York Times Company Real Estate Guide - Massachusetts Home Builder - New Home Construction