Profile picture for Keith & Kinsey Schulz

Keith & Kinsey Schulz

AgentTeam

20 Recent Sales (last 12 months)

Specialties:
Buyer's Agent,
Listing Agent,
Short-Sale,
Income Property

Advice

  • (90 Contributions,
  • 5 Best Answers,
  • 17 Helpful)

Contributions are sorted newest to oldest.

Upside Down with Excellent Credit

Answer

Live extremely frugal for a year, and pick up a part time job. Work your butt off, save some money, and pay the difference. Hopefully by the time you've saved up some money, the house value would have recovered a bit too. I know this doesn't sound attractive, but we just took a $25,000 loss on one property and a $6,000 loss on another to get to where we wanted to be long term. It took a lot of hard work, and it hurt to write the check, but it's well worth it in the end. 

  (0)
In todays markets is refinancing a mortgage all about minimizing interest rate?

Answer

I wouldn't be too concerned with a banks financial situation, as long as they get the refinance closed. After that, if a bank goes under somebody else will buy the mortgage. Often banks sell off mortgages anyway, even if they are in good financial status.Personally, we refinanced two of our properties this year, and we went through a small regional bank who retains the servicing of their mortgages and has great service. I'd recommend a small local bank over a big national chain just from a service aspect.

  (0)
HELP ASAP! Seller's agent wants my inspection report...

Answer

I would say you probably aren't obligated to give them the report, you own it. Although, if the buyer thinks you are hiding something they may be more likely to try to back out then if you show them everything you've got. It's always better to over-inform than under inform from a liability perspective.If you truly disclosed all the defects within the report and the buyer signed off on the property condition report, they have already agreed to and accepted the defects that you disclosed.Good luck.

  (0)
$0 Down Mortgages

Answer

Pro's - minimal money out of your pocket.Cons - many 0 down programs have added fees.    - higher payments because you'll borrow more    - reselling anytime soon may be tough to cover your costs.    If you are interested in a zero down loan so that you can invest your money, save it, or do other things with it, it may not be so bad. However, if you are interested in a zero down loan because your broke, be very careful buying a house. I like to see people have money set aside for repairs and to cover payments if there were a job loss.

  (0)
Should the Buyer be present during "Their" home inspection?

Best Answer

I think buyers should always be at home inspections. They will learn so much more by the inspectors explanation in person as compared to a sheet of paper. Also, the inspector can show them where all the main shut-offs are (gas, water, electric) in case of emergency down the road. 

  (0)
Should the Buyer be present during "Their" home inspection?

Best Answer

I think buyers should always be at home inspections. They will learn so much more by the inspectors explanation in person as compared to a sheet of paper. Also, the inspector can show them where all the main shut-offs are (gas, water, electric) in case of emergency down the road. 

  (1)
Should I refinance or just keep paying $300/month extra principal?

Answer

I'd give it some serious consideration and talk to a lender about the actual numbers and your options. By my calculations, you're probably paying just over $900 per month (of principal and interest including your extra $300), and you're still paying $2500/yr in interest. By refinancing, to a 10 year at 3% and continuing to pay $900/month, you could have this thing paid off in less than 3.5 years with a total remaining interest of $2500.

  (0)
Working with Realtor, but want to buy FSBO

Best Answer

Do you have a buyers agency contract with the Realtor you have been working with? If so, chances are the contract says you would owe the agent a commission even if you bought a FSBO. If you do not have a buyers agency contract you're not obligated to use your agent (although, it would be nice of you since your agent has done a fair amount of work for you). In any case, I would just explain the situation to your agent and see what they say. I have let a buyer go to purchase a FSBO without bringing me along, because it was the house they really wanted and the seller wouldn't have anything to do with an agent. I should also mention, it may not hurt to have your agent write an offer on this property and work with you even though the seller says they don't want to pay/work with an agent. It's hard for a seller to turn away an offer in front of them just because there's an agent involved. Others have made some very good points about the benefits of using an agent.

  (0)
How can I have the property history blocked?

Answer

Since it's public information I doubt you'll have much luck making it disappear. Even if you can get your local recorders office to hide it, it will be in local MLS records. What you bought the house for does not affect what it's worth. Just negotiate hard when you sell. 

  (0)
Can i buy a preforeclosed home?

Answer

Buying pre-foreclosures is a strategy lots of investors use. It's definitely a little trickier than buying a listed foreclosure, because there's more research and work involved. If you look for pre- foreclosures through your local court systems, you can contact the owners directly and try to work out a deal between you, them, and their bank. However, you really need to become an expert at working out complex situations in order to do this. There are definitely some good deals to be found this way.

  (0)