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Donald James's Advice

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  • 149 Contributions
  • 3 Best Answers
  • 13 Helpful

Donald James wrote:

How to link Zillow to MLS listing?

Answer
Your professional Realtor should make sure you are on all RE websites.  Our brokerage's listings go to hundreds of websites.  If you have a red sign on your front yard you may be out of luck as far as internet marketing. That company has pulled back (much to our surprise) from internet marketing.  If this is the company you are with they should have disclosed this to you.
11 hours ago
(0)

Why is it so hard to get a loan for a house regardless of ones credit score?

Answer
Robert has a great answer below. Can't get a loan today? Look at Robert's advice and plan for tomorrow so your dream will happen someday. Some lenders and many cities and states still have first time buyer assistance or down payment assistance programs available. Most of them will work with FICO as low as 620. Questions? Call or email.
3 days ago
(0)

Are there any 80/10/10 loans out there for those with bankruptcy and foreclosure?

Answer
There are lenders that will help you.  There are considerations if the BK had certain circumstances.  There are 80/10/10 and 80/15/5 available but you may have to work on your FICO score first.  Call / email if you have more questions.
6 days ago
(1)

Are piggybag loans, 2nd mortgages as down payment, etc. offered any more?

Answer
Yes, there are several loans you may be interested in. Several of our lenders offer an 80 / 15/ 5 loan with no PMI. Depending on your circumstances, there are also a few down payment assistance programs. Call or email if you have questions.
April 09
(0)

Home Selling-to buyer with FHA guidelines

Answer
Your Realtor should be guiding you through this.  It sounds like the buyer is negotiating with you.  You can negotiate what you are willing to do.  The beginning PA from the buyer frequently asks for everything knowing they will have some bargaining chips to trade away later.  FHA is largely concerned about having a sound home that is safe.  FHA will be concerned if any paint is chipping or peeling, especially if the home was built prior to 1978. Are the plumbing lines properly capped off?  Electrical must be up to code with any junctions in boxes, no double taps in the panel, proper polarity on all outlets.  Your house will be appraised and probably inspected to make sure it meets FHA codes,  That inspector will tell what you must do, if anything.  FHA insures about 43% of loans in MN so your buyer could be with the 57% who choose conventional,  One of our mortgage vendors is offering a 80 - 15 - 5 loan.  Five percent down and buyer skips paying MI (mortgage insurance). 
April 05
(0)

Is it worth looking at a Short Sale home if it's one week away from Foreclosure auction?

Answer
If it was just listed, it most likely is not at the end of the redemption period.  If the sale you mention is the Sheriff's Sale, then the house is just entering the redemption period which can be from 2 to 6 months in MN.  Hire a Realtor experienced in short sales to work for you.  On average, count on 120 days from offer to closing.  You may walk away with a good buy.  Call / email if you have questions.
April 02
(0)

How do you buy a new home when you have a current home to sell first?

Answer
You need an experienced Realtor and a very savvy loan officer.  It's true in this market that we don't like to accept contingent offers.  In the past month two of my clients signed PAs (Purchase Agreements) for new homes before listing their existing homes.  In one case we worked out a bridge loan with a credit union.  I and the sellers knew that once we listed their existing homes with our marketing machine time on market would be short.  Both previous homes have accepted offers.  There are options!
April 01
(1)

My listing agreement with Keller Williams Realty expired 2 weeks ago. How do I "claim this house"

Answer
Hi George,Your MLS listing is still active.  Your list date is 11.21.2013.  If your listing agreement is a typical six months it will expire 5.21.14.  It seems like your listing may not have the marketing horsepower you need.  Out of focus photos!?  Typos!?  130 DOM and no change of marketing tactics?
March 31
(1)

Wrong city shows on my property

Answer
You should be able to claim your house under homes for sale by owner.  We have a free FSBO kit I can send you to make sure you are covering all your bases.  Good luck with the sale!
March 31
(0)

1) Is a realtor required to do a Contract for Deed sale on a house?

Answer
There are MN real estate forms available at many office supply stores.  You do not need a Realtor but may want to use one for peace of mind.  You are signing legal documents that can come back to hurt you if one side or the other fails to perform.  You would probably want someone to look over the deal and explain every clause to you.  A Realtor experienced in Contracts for Deed may be less expensive than a Real Estate Attorney.  Are you selling a property with an existing mortgage on it?  If so does it have a Due On Sale clause?  Please call if you have questions.
March 28
(0)