Profile picture for Teri Reed

Teri Reed

Premier Agent

15 Recent Sales (last 12 months)

Branch Broker (13 years experience)

Specialties:
Buyer's Agent,
Listing Agent,
Relocation,
Consulting

Advice

  • (25 Contributions,
  • 0 Best Answers,
  • 6 Helpful)

Contributions are sorted newest to oldest.

I need help

Answer

Rentals are handled in a variety of ways. Some are managed by property management companies, some are represented by real estate companies/agents, and many are handled by individuals or investment companies. I suggest you start with a property management company. There are several in your area that might be able to help you find the rental you desire.

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do you need good credit to get a morgage if the house is paid for?

Answer

Yes, you will need to have good credit to get a mortgage or to get a home equity line of credit on a home that is paid off. Each lender will be a little different on their guidelines for the credit score needed. You might be surprised as some lenders will loan money with a credit score of 580. Contact at least a couple of lenders and compare the information they provide on the terms of the loan. Good luck

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Need advice on Oklahoma made products that can be purchased as gifts

Trying to compile a list of resources for gifts (closing gifts or things my clients can purchase) that are either locally made or made from local materials. For example, wines, jelly/jam, cup cakes, rose rock products, hand made iron work or wood work, chain saw carvings, etc. I want to support our local artisans and craft makers. Thanks for your help.

  (0)
Is it too late for me to have a realtor?

Answer

No, it's not too late. Contact a trusted realtor and revisit the property. This is (most likely) one of the largest investments you'll ever make. You need your own representation and someone who is experienced in guiding you through the buying process. Your realtor will be able to give you some valuable insight on your purchase. Best of luck to you.

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How good of a chance does my fiancee & i have of a loan if we have no down payment (our 1st home)

Answer

You should start by finding a good lender and explaining your situation. They can explain your options and the qualifying factors for a USDA or VA loan. Some of your down payment money could be gifted from a relative. You might qualify for some down payment assistance from a neighborhood revitalization program or from a Native American tribe (if you are a member). A portion of your closing costs can sometimes be covered by the seller of the property, or even the lender if you are willing accept a higher interest rate. Begin saving all you can right now and avoid any major credit purchases until you achieve home ownership. Owning your own home is a sound financial decision. Good luck.

  (0)
Is it possible to borrow 100% of the house value

Answer

Yes, with some specialty loan programs like VA and USDA. A good lender will be able to discuss these options and talk to you about qualifying for a down payment assistance program. Some neighborhood revitalization programs and some Native American tribes offer this type of help. Shoot me an email[deleted by Zillow moderator, please see our Good Neighbor Policy for posting guidelines] ou need help finding a lender. Good luck.

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To all agents, how would you handle having a listing over 200 miles away? Keep? Refer? Etc.?

Answer

I took a high end listing in a small vacation community about 200 miles away from my service area because the client wanted a realtor who was a member of a MLS in a large city. It worked out great. I recruited a local realtor in the area to take referrals for me if I was unable to show the property. I gave her several referrals for showing the property over the 4 months the house was for sale. I also traveled to the house on 4 occasions to show the house myself. The buyer came from the metro area and I ended up listing and selling the home. In this case, it worked out well. My contacts and advertising in the metro area were instrumental in getting the home sold. So, my answer to you is..... it depends if you can provide value and expertise to the situation. If someone local can provide better/more service(s), then a referral is in order. Good luck.

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When is the best time to start looking for a rental property?

Answer

In my experience, 60-90 days in advance is a good time to start looking. By posting this question so far in advance, I can tell you are a "planner". This is good and will serve you well in finding a nice home to rent. It is a good idea to let your circle of friends know that you plan to rent a home in July/August just in case they hear of someone who will have a home to rent. Good luck.Teri ReedMetro Brokerswww.LocateMyDreamHome.com 

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