Are Those Add-On Fees on Your Closing Document Illegal?

In 2009, the US District Court ruled that add-on fees on the HUD-1 closing document could be against federal law. Commissions on the HUD-1 can be a flat fee, a percentage of sales price, or a combination but should not exceed the agreed upon commission in the listing brokers listing agreement. If the fee exceeds that agreed upon amount then HUD can determine if the services provided justify the additional charges. Unjustified charges are against the Real Estate Settlement Procedures Act or RESPA and can be subject to penalties.

For all your Tulsa Luxury Real Estate transactions, contact Sherri Sanders of The Tulsa Luxury Property Group at McGraw Realtors at 918-724-5008 or tulsaluxurypropertygroup.com

For a Tulsa, OK area mortgage, contact Karen Heston of BOK Mortgage at 918-481-7353 or http://kheston-boklo.mortgagewebcenter.com

Tulsa's Hidden Luxury Homes For Sale

If you have ever dreamed of owning a Tulsa luxury home, you may be surprised to know that luxury can be found in many moderately priced homes. In Tulsa area real estate, a home is generally considered "luxury" when it is priced over $500,000. Even though a luxury home is something that many of us can't afford, there are many homes that are moderately priced and still have luxury features.

All luxury homes have one thing in common, they have features, materials or qualities that are considered to be a luxury. Those features might be: granite countertops, marble flooring, a home theater, heated towel racks, heated floors, an outdoor living area, a home automation system and much more.



Interested in Tulsa luxury real estate?, contact Darryl Baskin, Tulsa Luxury Property Group at McGraw Realtors, 918-258-2600 or tulsaluxurypropertygroup.com.

For Tulsa Home Automation System Installation, contact Keegan Beck, KMB Enterprises, 918-527-1031 or www.kmbenterprisesllc.com

What Is Luxury Real Estate?

All across the United States, luxury real estate construction usually has several common factors. A few of those common factors include: price, amenities, and material quality. When it comes to price, it is not uncommon to hear people ask "Where does the price for a Tulsa, Oklahoma luxury home begin?" Generally speaking, luxury homes in the Tulsa, Oklahoma and surrounding area begin at $500,000. Many real estate experts across the country will tell you that the price for the luxury real estate market in any area is based on the top 10 percent of home sales in the last year.

Another factor in luxury homes is the amenities. One thing that all luxury homes in Tulsa have are amenities. Amenities are different for everyone but all luxury homes have them. For some, it might be the location- near a waterfront. For others it could be a unique in-ground pool, high end appliances, expensive finishes, and lots of space.

Along the same line, when luxury homes are being constructed, higher quality materials are being used. On the exterior, you might find stucco or full brick or stone instead of partial brick or siding. In the interior of the home, as above, you will find high-end appliances, granite or marble appliances, extra space, and upgraded flooring- plush carpeting, solid hardwood flooring, or even marble. In today's market, many expect lots of energy efficient features and products as well.

With luxury real estate in the Tulsa, Oklahoma area, there are many factors to consider to ensure that the investment will pay off, not only in comfort and expectations, but also in future value. For all your Tulsa, OK. area luxury real estate needs, contact Kelly Howard of the Tulsa Luxury Property Group of McGraw Realtors at 918-230-6341 or tulsaluxurypropertygroup.com.

When You Move, Don't Pack These!!

Packing and moving can be a lengthy and stressful process. Knowing what to pack is simple, right? Not always! There are some items that should not be packed when you are using a moving company. Hazardous items are actually illegal for movers to transport. The following items should not be sent in the moving van:

• Pant and paint thinners
• Ammunition and firearms
• Gas, Propane, or Oil
• Flammable or explosive materials
• Aerosols
• Acetone products
• Stereo
• Matches
• Valuable items
• Pets

For a complete list of items Tulsa moving companies can’t move or to move your Tulsa area luxury property, contact Mike, Relocation LLC, at 918-455-6683 or www.relocationllc.net.

For junk removal services in Tulsa, contact David Tittle, I-Haul, 918-261-4008 or www.ihaulusa.com.

For your Tulsa luxury real estate needs, contact Tim Hayes of The Tulsa Luxury Property Group at McGraw Realtors, 918-739-0397 or tulsaluxurypropertygroup.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 mortgage, contact Steve Currington with Currington Mortgage at 918-810-0092 or www.curringtonmortgage.com

For all your Tulsa, Oklahoma area luxury real estate needs, contact Darryl Baskin, McGraw Realtors at 918-258-2600 or tulsaluxurypropertygroup.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 homeowner's 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 luxury 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 tricky, especially with luxury real estate. 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 home 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 luxury real estate needs, contact Peter McGraw of McGraw Realtors at 918-592-6000 or tulsaluxurypropertygroup.com

When building, remodeling, or replacing products in your home, eco-friendly or green ideas can be very easy and often inexpensive to implement. Here are some easy ways to incorporate green products into your home:

• When building a new home, face the widest part to the north or south.
• Place doors and windows where you will receive good cross-ventilation.
• Ensure your attic space is well ventilated by using roof ridge vents, lighter colored roof materials, lots of insulation, and by placing A/C ducts in the attic to help absorb the heat.
• Install an energy-efficient and properly sized heating and A/C system for your home, make sure that duct work is correctly sealed, and use a programmable thermostat.
• Utilize landscaping materials, plants and design that is appropriate for the climate and rainfall levels in your area. Consider eco-friendly mulch, such as glass mulch. Glass mulch is tumbled to be smooth and never need replacing.
  
• Use low-flow toilets and showerheads and energy-efficient appliances.
• Recyclable and renewable materials can be used for decking, siding, interior and exterior trim, and more.
• Choose flooring materials made out of concrete, bamboo, or recycled wood.
• Replace your air conditioning filter regularly to enhance the performance of your air conditioning system and to reduce pollutants in your home.

For more ideas or estimates on incorporating green products and ideas into your home, contact the professionals below:

Tulsa Roof Installation and Repair: A-Best Roofing, Judy Smith, 918-587-1426 or www.abestroofing.com
Heating and Air Conditioning Installation and Repair in Tulsa: Air Assurance, contact Stephen Taylor at 918-258-HEAT or www.airassurance.com
Tulsa Building and Remodeling: US Building Systems, contact Rick Oberlender at usbs@att.net.
Air Conditioning Filters: Filters 4 Me, contact Rick Butefish at 292-8600, rick@filters4me.com, or visit their website at www.filters4me.com.
Tulsa Flooring Products: ProSource Wholesale Floorcoverings, contact Jim Ecrette at 252-7711 or prosourcejim@tulsacoxmail.com (ask for Darryl Baskin’s preferred pricing).
Tulsa, OK Glass Mulch - contact Leigh Murray, Garden Glass of Oklahoma, 918-232-0210 or www.gardenglassofoklahoma.com.

To find energy-efficient, eco-friendly, or green luxury homes in Tulsa contact Gordon Shelton of the Tulsa Luxury Property Group at McGraw Realtors, 918-592-6000 or www.tulsaluxurypropertygroup.com