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Chuck Smith's Advice

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  • 5 Contributions
  • 0 Best Answers
  • 2 Helpful

Chuck Smith wrote:

Self Employed and can't get Bank Approval

Answer
There are still ways for you to get a home loan, although they might be a little more difficult and more work from your end. Like yourself us Realtors are self employed so it is a struggle when we try to get a home loan. Some banks offer portfolio lending where the bank will hold all the risk themselves and not sell your loan. Did you file your taxes in 2010, 2011 and 2012? If so you should be able to show your income from your tax returns and that would be the way to go. If you look at my profile in my Top 10 there are some great lenders that I use that will be able to help you out.
January 11 2013
(1)

My realtor caused me damages, do I have any recourse in this matter?

Answer
To answer your question simply, no you don't have any recourse against your agent.In the future you can get the lender to draw up the pre approval letter without putting a price and just putting a property address. 
January 10 2013
(0)

Have you seeing any changes in the Real Estate Market this year?

Answer
I work in the Atlanta GA market and 4th qrt of 2012 and 1st qrt of 2013 have been the same. There is a huge influx of buyers and a lack of quality listings on the market. We typically have around 20 to 30 listings and currently have 7. 
January 10 2013
(0)

Should I try to sell my house "as is" or spend a lot of money making repairs and then sell it?

Answer
Great question. It all depends on what is going on in your area. If homes are selling for more than $140's I would probably say address the concerns if you have the cash to do so. If you don't, then I would price the home to account for the repairs. I work with several investors in my area where they would rather get the home for the lower price needing repairs and have their contractors do the repairs as they can get it done for less than you. As far as us Realtors getting paid. That is the best part for the seller, we don't get paid unless we complete our job which is getting your house sold. 
January 10 2013
(1)