FAQs for Home Buyers

Have questions about buying a home? Take a look at the below questions and answers or contact us for more help getting started with your home purchase.

How do taxes, property insurance and Flood zones affect housing?
They are all important to the value and use of property. Taxes relate to the location of the property and what kind of infrastructure has been built by governing bodies to insure safe water, roads, drainage, schools fire departments and even colleges.Home Owners insurance helps insure a recovery from a lost of conditions or use to a home and is required by lenders to help reduce the risk of a loan and protection for the owner.

Flood Zones are determined by the US government and help determine risks related to water and flood damage that could occur. Each zone has an insurance cost rate and is very important to note when looking at or choosing a property.

Should I use a Realtor/Agent to shop for new construction homes?

Buyer representation is paid for most of the time buy the seller. By choosing to work with a KSP Realtor, you will have an advocate and be represented in the transaction to help you through the maze of disclosures, planning, financing, repairs, inspection options, home warranties, scheduling, walk through, and many details related to new construction.

What is a Buyers Representation Agreement and should I sign one?
It is an agreement between you and the Agent/Broker to represent you in purchasing or leasing property. It helps each of your understand the level of commitment you desire in the working relationship and establishes how the Agent/ Broker will be paid for their professional service. Most listings pay for Broker Services which means the buyer has as much representation as the seller and levels the playing field during negotiations and throughout the transaction.
Is there a difference between a an Agent, a Broker and a Realtor?
The Broker is the one licensed to buy and sell Real Estate by the state and is held to a high level of professionalism and ethics for the service they offer.

An Agent is also licensed in the state to represent their Broker in a transaction. All listings and buyer representation agreements are between the Broker and the buyers or sellers. The Agent works for the Broker holding an active license in good standing with the Texas Real Estate Commission. Agents are held to the same quality standards as their Broker.

REALTOR® is a federally registered collective membership mark which identifies a real estate professional who is member of the NATIONAL ASSOCIATION OF REALTORS® and subscribes to its strict Code of Ethics.