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Welcome > Agent Info >
Testimonials ...
"I believe all parties were very happy..."
Dear Alice, Thank you so much for the sale of my parents property; Your agency showed great business sense and professionalism. It was very easy to work with your company. Alice, we hit a snag with the sale of the property and I was very impressed of how you were able to make a negative into a positive. All in all the sale of the property was quick and smooth and I believe all parties were very happy with the outcome. Should I ever need a realtor again Medlock and West will definitely be my choice. Good luck in the future and many successful sales for you and your company. Sincerely
Dan L Woods
Insurance >Hazard Insurance
Are you considering taking out hazard insurance on a property before you actually take title? It may be a good idea!
Even though you are not yet the owner of record, as the buyer, you have an insurable interest in a property the moment that you and the seller execute the sales agreement. As a matter of practice, however, buyers do not usually take out insurance until the papers change hands, and it should not be necessary if the agreement of sale is properly executed.
It is very important to both parties that the agreement states that the property will be insured for a specific amount. From the buyer's point of view, an adequate sum must be stipulated, and the agreement should not read "as now insured", which can indicate that the seller may not want to increase the insurance.
As a general rule, the amount of insurance on the buildings on a property should equal the sales price, less the value of the lot.
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| Q |
What is a "jumbo mortgage"?
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| A |
The term "jumbo mortgage" currently refers to a mortgage loan in excess of $359,650, although the threshold amount may change as the market fluctuates. |
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- NUMBER1EXPERT 
