About Scott Killian www.SaveWithScott.com Expertise Texas Residential Real Estate needs in Tarrant County and the Mid-Cities area. Questions should involve buying or selling a home. Do you have a question about how your home is being marketed? How it is in the MLS? How is the price? How is the competition? Buying a home, what do I need to do to get started? How do I get pre-approved? Can you show me houses? Do I specialize in your area? How many homes has my agent sold before? Questions along this line are good things to ask. If you have a deed question or legal question, these type of questions need to be addressed to a real estate lawyer. I would be happy to recommend one if you like by just giving me a call at 817-703-1165.
Please visit www.SaveWithScott.com for more information about my company, Scott Real Estate
Experience Active and experienced Real Estate Broker in this area.
Publications Active Rain, Real Town, Bedford circulations
Education/Credentials Real Estate Broker. Bachelors degree, E-Pro, recognized by Channel 8, Texas Realtors Magazine, TLC Moving Up Show, and many clients in this area.
Awards and Honors Presidential Sales Cup for 5 years. Please visit www.SaveWithScott.com to see more about my experience.
Expert: Scott Killian www.SaveWithScott.com Date: 3/4/2008 Subject: Refinancing with mineral rights
Question We went yesterday to close on our refinance and the title company found there might be a possibility of mineral rights at stake so the lender is requiring we execute a "Mineral Rights Acknowledgment and Agreement". It appears they want us to agree to not "transfer, convey, assign, sell or lease any mineral development rights" for the term of the loan. And if for some reason we do receive any compensation we agree to apply monies to the principal of the note. I've never heard of this agreement. We did not sign it but the title company says it may not fund without it. Is this standard procedure? It doesn't seem worth the refinance now.
Answer This is normal procedure. I would recommend closing and why not use that money to pay down your loan. It will save you lots of money in the future on your loan anyway.
Refinancing though is not always a good idea. Feel free to call me to discuss in more detail.
