Collin County Real Estate Info.

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August 2009

� Aug. 28, 2009 - How do I get my funds after closing (and other money due to me)?

A client of mine asked a great question that I thought would make a great blog post. He asked for me to explain how his money would be disbursed to him after selling his home. Here is a slightly more generic version of my response:

You'll generally get your proceeds disbursed from three main sources:

1. The biggest check issued is generally that for your remaining equity, after all fees and expenses have been deducted. It is cut immediately after closing and funding. So, the title company will generally put it in the mail to you (or you can pick it up) the next business day. However, many people prefer to have their funds wired into their checking accounts as the funds get there much more quickly (hours instead of days) and you don't have to wait for a wire to clear like you may with a check (depending on your bank, they may hold a check for 7-10 days). Note: There is often a small charge from banks, around $10, for incoming wires... check with your bank to be sure. And if you want your funds wired, you'll need to include a voided check (or at least the account # and R/T # off the bottom of your check) with the docs you sign at closing. There's usually a form specifically for this... asking you about how you want to receive your proceeds from the sale.

2. Next, your escrow account is refunded... assuming that your mortgage escrows for taxes and insurance as part of your monthly payment (most mortgages do, but not all). Your escrow balance will be send back to you by your mortgage co. once they get your payoff and process the close-out of your loan. This usually means you get a check from them within about 15 days. It doesn't hurt to call them and update your address so they mail it directly to you (and not to your old address where the mail forwarding can take an extra few days).

3. Finally, your homeowners insurance company will refund you the balance of your un-used/pro-rated policy premium. This also normally takes a couple weeks, but varies by company. Again, letting them know your new mailing address helps expedite your receipt of your check... and you can ask at that time what their normal turn-around is for refunds when policies are canceled.

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Hope that helps! Let me know if you have a real estate question you'd like answered...

Ryan Cave, The "Caveman"
Truth, Honor & Personal Integrity
214-789-9366
www.CaveRealty.com

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� Aug. 18, 2009 - Texas Tax Free Weekend 2009

Tax free weekend is here again (August 21-23), and for 2009 the list of tax free items has again been updated (see below). So, stores will be stacked with items on sale, malls will be madhouses with people trying to save, and those without a great need to shop will be staying as far away as possible.

The basic rule of thumb is that the law exempts clothing and footwear priced under $100. However, there are exceptions and most accessories don't qualify. Also, for 2009, school supplies have been added to the list of items that are tax free. The tax savings themselves aren't THAT great... about $8 for every $100 you spend. And since most people wouldn't exactly rush to a store advertising just 8% off some items, many retailers combine some of their larger sales with this tax free weekend. This makes the tax free savings an even bigger bonus on top of already discounted prices. Retailers count on moving a high volume of merchandise, and selling both tax free and taxed items, while shoppers are in a frenzy this weekend.

From Collin Creek, to Willow Bend and Stonebriar malls, expect large crowds. The Allen Premium Outlets are traditionally packed as well. The new malls (Waters Creek at Bethany and 75, and The Village at Stacey and 75) should see a ton of traffic too. Even Walmart and Target stores are typically packed. The good news is that there's just no shortage of shopping in Collin County. Know this though: those out for the best savings and selections will be out in droves early. Personally, I'll be avoiding the malls and retail stores all weekend. Not that I don't like saving money, but I'm not a big fan of shopping and I don't really like crowded stores/malls. For those who compare shopping to hunting though, and see great savings as a big kill, this weekend is big-game heaven and peak shopping season. To see the complete list of tax free/taxable items, go here: http://www.window.state.tx.us/taxinfo/taxpubs/tx98_490/tx98_490.html
Happy hunting/super shopping!

Ryan Cave, The "Caveman"
Truth, Honor & Personal Integrity
214-789-9366
www.CaveRealty.com

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� Aug. 10, 2009 - Minor League Hockey Hits Allen TX - 2009-2010 Allen Americans Schedule

It's official... Minor League Hockey is comeing to Allen, TX... and soon! Check out the 2009-2010 schedule, below, for your new team: The Allen Americans. They'll be playing at the new Allen Events Center in The Village at Allen (Stacy Rd. at 75/Central).

2009-2010 Allen Americans Schedule

Day Date Opponent Time

Fri. Oct. 16 @ Arizona 9:05 PM

Sat. Oct. 17 @ Arizona 9:05 PM

Fri. Oct. 23 @ Bossier-Shreveport 7:05 PM

Sat. Oct. 24 @ Laredo 7:30 PM

Sat. Oct. 31 @ Texas 7:05 PM

Tue. Nov. 3 @ Tulsa 7:05 PM

Fri. Nov. 6 @ Corpus Christi 7:05 PM

Sat. Nov. 7 vs. Corpus Christi 7:30 PM

Wed. Nov. 11 vs. Texas 7:30 PM

Fri. Nov. 13 @ Colorado 8:05 PM

Sat. Nov. 14 @ Colorado 8:05 PM

Thu. Nov. 19 vs. Arizona 7:30 PM

Fri. Nov. 20 @ Corpus Christi 7:05 PM

Sat. Nov. 21 vs. Corpus Christi 7:30 PM

Wed. Nov. 25 vs. Mississippi 7:30 PM

Fri. Nov. 27 @ Odessa 7:05 PM

Sat. Nov. 28 vs. Texas 7:30 PM

Sun. Nov. 29 vs. Rio Grande Valley 6:30 PM

Fri. Dec. 4 vs. Rio Grande Valley 7:30 PM

Sat. Dec. 5 @ Corpus Christi 7:05 PM

Wed. Dec. 9 @ Texas 7:05 PM

Fri. Dec. 11 vs. Tulsa 7:30 PM

Sat. Dec. 12 vs. Laredo 7:30 PM

Fri. Dec. 18 vs. Odessa 7:30 PM

Sat. Dec. 19 @ Odessa 7:05 PM

Tue. Dec. 22 @ Odessa 7:05 PM

Sat. Dec. 26 vs. Texas 7:30 PM

Sun. Dec. 27 vs. Bossier-Shreveport 6:30 PM

Thu. Dec. 31 @ Wichita 5:05 PM

Day Date Opponent Time

Fri. Jan. 1 vs. Colorado 7:30 PM

Sat. Jan. 2 vs. Laredo 7:30 PM

Fri. Jan. 8 @ Texas 7:05 PM

Sat. Jan. 9 @ Mississippi 7:05 PM

Wed. Jan. 13 All-Star Game in Laredo 7:00 PM

Fri. Jan. 15 vs. Rapid City 7:30 PM

Sat. Jan. 16 vs. Wichita 7:30 PM

Mon. Jan. 18 vs. Arizona 1:00 PM

Thu. Jan. 21 @ Missouri 7:05 PM

Fri. Jan. 22 vs. Amarillo 7:30 PM

Sat. Jan. 23 vs. Bossier-Shreveport 7:30 PM

Fri. Jan. 29 vs. Corpus Christi 7:30 PM

Sat. Jan. 30 @ Missouri 7:05 PM

Tue. Feb. 2 @ Mississippi 7:05 PM

Fri. Feb. 5 vs. Mississippi 7:30 PM

Sat. Feb. 6 vs. Rio Grande Valley 7:30 PM

Thu. Feb. 11 vs. Tulsa 7:30 PM

Fri. Feb. 12 @ Amarillo 7:05 PM

Sat. Feb. 13 @ Texas 7:05 PM

Mon. Feb. 15 vs. Texas 1:00 PM

Fri. Feb. 19 @ Arizona 8:05 PM

Sat. Feb. 20 @ Arizona 8:05 PM

Tue. Feb. 23 @ Rio Grande Valley 7:35 PM

Thu. Feb. 25 vs. Laredo 11:30 AM

Fri. Feb. 26 vs. Bossier-Shreveport 7:30 PM

Sat. Feb. 27 @ Mississippi 7:05 PM

Tue. Mar. 2 @ Bossier-Shreveport 7:05 PM

Thu. Mar. 4 @ Laredo 7:00 PM

Fri. Mar. 5 vs. Mississippi 7:30 PM

Sat. Mar. 6 vs. Mississippi 7:30 PM

Wed. Mar. 10 @ Texas 7:05 PM

Fri. Mar. 12 @ Rapid City 8:05 PM

Sat. Mar. 13 @ Rapid City 8:05 PM

Wed. Mar. 17 vs. Missouri 7:30 PM

Fri. Mar. 19 vs. Corpus Christi 7:30 PM

Sat. Mar. 20 vs. Amarillo 7:30 PM

*All times are in Central Standard Time. Home games are in bold.

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Ryan Cave, The "Caveman"
Truth, Honor & Personal Integrity
214-789-9366
www.CaveRealty.com

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