Steve Reese

I'm a:	Real Estate Professional
Company:	Oklahoma Association of REALTORS®
Location:	Oklahoma City Shawnee
Phone:	(800) 375-9944

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Oklahoma: Termite certificate and closing

Asked Tue Aug 12 2008, 15:14 by K N - Oklahoma - Home Buying - 1 answer

Steve Reese answered:

The Oklahoma Real Estate Commission's Uniform Purchase Contract (not mandated for licensees but made available on their Web site: http://www.orec.ok.gov) addresses it. Lenders will require it. Any repairs required for closing will be required by the lender and/or buyer via their home inspection. All wood destroying organisms are included in Oklahoma. A home inspector expert in your area is John Knox: JKnox@KnoxInspections.com or 918.744.8128. Good luck! - Tue Aug 12 2008, 18:25

Does an exclusive buyer's agent get paid from the sale or from the buyer?

Asked Fri Aug 8 2008, 03:34 by Dan - Oklahoma - Home Buying - 6 answers

Steve Reese answered:

It could be either. If you choose to hire the services of a real estate licensee--just like a seller does when they list their property--you will execute a Buyer Broker Service Agreement in addition to a Single-Party Broker or Transaction Broker Agreement, depending on what level of representation you desire. You have a number of ways for the broker's professional service fees to be paid. Look at paragraph 5 of the Agreement I've referenced. You should also be familiar with Oklahoma's Broker Relationships Act, outlined on the real estate commission's Web site (http://orec.ok.gov). And despite what another might say, all commission amounts are negotiable. It's reckless and incorrect to suggest there's a "normal" amount. Negotiate superior service from a reputable agent and established real estate firm. Good luck! - Fri Aug 8 2008, 05:19

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