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Mike Burchyett's Advice

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  • 59 Contributions
  • 3 Best Answers
  • 6 Helpful

Mike Burchyett wrote:

Need advice..buyers may need extension

Answer
It almost sounds like your buyers ended up switching to a different type of loan or a new lender.  If that's the case you are basically starting the process over with the same buyers, so you're probably not going to close for 2-4 weeks depending on the lender.  In that case I would ask my agent to try to renegotiate with the buyers as they're costing you an extra mortgage payment, taxes, insurance, etc.Best of luck!
March 25
(0)

Selling Property as teardown and split lot to developers

Answer
Yes, it can be done.  Its probably best to have a Realtor to represent you in this case if only to make sure you're completely protected in the transaction.  Also every builder/investor already has relationships with Realtors, so you're going to get the most exposure.  I've helped a few clients do a swap depending on the property.That being said, I have a few folks that would be very interested.  Give me a call when you have some time to discuss.
March 25
(0)

ZESTIMATE 5467 GRANNY WHITE PIKE BRENTWOOD TN

Answer
Since the home is listed for sale with an agent, your agent can correct the information himself, but from what I can see Zillow's information matches what your agent has posted on Realtracs.  However the ZEstimate has no bearing on what your home is worth or what buyers are willing to pay for a home.  Zillow admits as much - according to their website the ZEstimate is within 30% of the actual sales price of a home 70% of the the time.  For a home in your price range, that means if the home sells anywhere between $500,000 and 750,000, that's about what they would expect.  This year alone the ones I have helped folks sell have sold, on average, for 10% above the ZEstimate and many other agents I deal with would say the same thing.
March 12
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Is there a lender that will work with you having a credit score of 605?

Answer
Yes I know a local lender that can help. Click on my Zillow profile and shoot me a quick message and I'll respond with contact info.
February 03
(0)

Any mortgage lender recommendations for first time buyer in Nashville area?

Answer
It depends on the type of loan you're looking for.  Are you trying to purchase a home that needs some work, trying to use a VA benefit, etc?  If you're looking for a traditional loan, Churchill Mortgage does a great job.  Ask for Chris Bowser and let him know I sent you.  He does a great job of walking you through the process.
January 05
(0)

Portfolio Lenders in Nashville

Answer
Did you ever have any luck with this?  I may have a resource or two for you.
January 05
(0)

What is the average commission for real estate agent for selling home in East Nashville TN?

Answer
There is no typical commission.....Every agent is different and it will depend on the services you want. I would doing a face - to - face interview with 2 or 3 of us to see which is the best fit. Each agent should be able to lay out a "net" sheet so you can see exactly what the costs are associated with selling your home and how much you will walk away with upon closing.
December 08 2013
(1)

I have a credit score of 640. Can I boost the score to get better rates. If yes how

Answer
I know a local lender who will write loans down to scores of 600 (580 in some cases).
November 17 2013
(0)

What is the difference between a real estate agent and a broker?

Answer
In TN, a broker has to have their license for at least 3 years and has to take additional education regarding real estate law. A broker can run/manage an office. An agent must be under the supervision (although this is often very loose supervision) of a broker. More important than broker/agent is that individual's track record. In any given year about one half of all licensed real estate agents and brokers will not help a single person buy or sell a home. The average agent/broker will sell 4 hours in a year, for about 97% of the asking orice and anywhere from 90-150 days. What you want to look for is someone who does significantly more deals (12 should be a minimum in my opinion) and who sells homes quicker and closer to the asking price.
November 02 2013
(1)