Educating people - both buyers and sellers - is extremely important in today’s real estate market.  So many people do not understand broker relationships, the real estate contract, lending option or the closing process.  We at Lakeshore Realty know the importance of helping to educate our customers and clients.  Therefore, we have started a monthly FREE educational/informational seminar for the general public on real estate related subjects.

We will begin tomorrow night, Wednesday, November 12th at 5:30 p.m. to 6:30 p.m. at the Eufaula Lakeshore Realty office (4 miles east of Eufaula on Highway 9).  Our guest speaker will be Gayla Major, Mortgage Loan Officer for Arvest Bank in McAlester.  Gayla will be talking about HUD Section 184 which is an Indian Home Loan Guarantee Program specifically for Native Americans.  With Section 184 financing you can get into a home with a low down payment and no mortgage insurance.  If you are American Indian and a member of a Federally recognized tribe, this program may be just the thing you are looking for.

During the seminar Gayla will answer questions including:  1) Why a loan program specific to Native Americans exists; 2) How Section 184 works and 3) Who is eligible for a Section 184 loan.

All interested persons are invited and encouraged to attend.  You can call the Eufaula Lakeshore Realty office for more information at:  918-452-3184

I encourage all buyers to get a home inspection.  With a home inspection buyers can collect more detailed information on the property they are considering in in order to make a more informed decision.  However, most people think only of a general home and termite inspection when they think about what to look for.  A lot of people do not think about other types of inspections such as environmental and structural inspections.  As a REALTOR in a rural lake area, I believe it is important to consider a septic system inspection and if a property includes a dock - a dock inspection.  I know of people who have closed on their properties only to begin having septic system problems and then having to put in an aerobic septic system which is about double the cost of a traditional septic system.  Likewise, people buying property which includes a boat dock and have no knowledge of docks or boat lifts, would be wise to get these structures inspected prior to closing.  Dock repairs can be quite costly.  Be informed and know the specifics of the property you are planning on buying.  It could save you a lot of money down the road.