Frequently Asked Questions
Making wise decisions about real estate is easier when you have a true understanding of how things work. Our team offers expert guidance and personalized service to make buying, selling, or investing in property smooth and stress-free. With deep market knowledge and a commitment to clear communication, we focus on achieving your real estate goals efficiently and effectively.
Our consistent prescence and high levels of activity in the local market ensure we stay on top of trends and adjustments in the market.
52
Average # of Sales
$225,000
Average Sale Price20+
Average Listings
$310,000
Average Listing Price
Buying a Home
How do I start the home-buying process?
Start by checking your credit score and getting pre-approved by a trusted lender. Then, connect with a local real estate agent to discuss your needs and begin touring homes.
Do I need a real estate agent to buy a home?
While it’s not required, having a buyer’s agent ensures you have an advocate on your side to help with negotiations, paperwork, inspections, and overall guidance throughout the process.
How long does it take to buy a house?
The average transaction takes 30–45 days from contract to close, depending on financing, inspections, and other contingencies.
Selling a Home
What is my home worth?
Home value is determined by comparable sales in your area, your home's condition, location, and current market trends. Contact us for a free comparative market analysis (CMA).
Should I make repairs before selling?
We recommend fixing major issues and cosmetic touch-ups to improve your home’s appeal. Our team can guide you on which updates offer the best return on investment.
What are closing costs for sellers?
Typical closing costs include agent commissions, title insurance, prorated taxes, and possible repairs. These average around 6–8% of the sales price.
Investing in Real Estate
Is real estate a good investment?
Yes—real estate can provide cash flow, appreciation, and tax benefits. The Durant and Lake Texoma regions offer particularly attractive opportunities for both short- and long-term investments.
What’s the difference between a rental property and a flip?
Rental properties generate ongoing income, while flips are bought, renovated, and sold quickly for profit. Your strategy depends on your goals, timeline, and risk tolerance.
How do I find investment properties?
Work with a knowledgeable real estate team that understands the local market and can help you identify undervalued properties or high-rent areas.
General Real Estate Questions
What is the difference between pre-qualification and pre-approva
Pre-qualification is an estimate based on unverified information. Pre-approval may involve a credit check and financial documentation, making it more reliable when submitting offers.
What are property taxes like in Southern Oklahoma?
Property taxes vary by county, but Oklahoma generally has lower property taxes compared to the national average. We can help estimate taxes for specific homes.
Can I back out of a real estate contract?
Yes, but only under certain contingencies like financing, appraisal, or inspection. Breaking a contract outside these could result in forfeiting earnest money.
Working With Peña Properties Team
Why should I work with a local team?
We live and work right here in the Durant and Lake Texoma areas. We bring deep local knowledge, strong community ties, and personal service backed by Real Broker’s national platform.
Are you full-time agents?
Yes. Our team members are full-time professionals dedicated to helping clients buy, sell, and invest with confidence.
How do I schedule a consultation?
You can book directly through our website, call (580) 380-8271, or email jim@pena.properties.