Okay...I really don't know where to start...I am a first time home buyer, I do have more than 5% to put down....I have filed legit taxes and now I feel really lost....any advice?
Advise Needed.....I'm buying a house finally
- Thread starter Geminixoxo
- Start date
Could you be more specific? What exactly are you asking advice about and how much humor can we put in our responses.Geminixoxo said:
LOL...................Humor is nice......but I' m being serious.....no more than 300K...I guess I need a trustworthy real estate agent...know of any?
I'm off to work...
I'm off to work...
Find a real estate agent that is knowledgeable/competent and who you can trust. To do this, you could drive around to the open houses in the area you are looking to buy in and chat up some of the agents until to find one you are comfortable with.
Search www.mls.ca to get a feel for the property you are looking for.
A mortgage broker can likely do better then you will be able to on your own in setting up a mortgage.
Search www.mls.ca to get a feel for the property you are looking for.
A mortgage broker can likely do better then you will be able to on your own in setting up a mortgage.
E
eyeofthedragon
http://www.confusednation.com/asshat/
Asshat is new! Asshat is hip! Asshat is now! We all strive to create a new word for a generation, and this is it, folks! Asshat is something that everyone can come together and celebrate!
Asshat is new! Asshat is hip! Asshat is now! We all strive to create a new word for a generation, and this is it, folks! Asshat is something that everyone can come together and celebrate!
Tom Vu , the agent of all agents ... kicks ass and has a yaTch.Geminixoxo said:
http://infomercial.tvheaven.com/tomvu.htm
Seriously,
1. Research what you want, areas, amenities, price-range.
2. Research what properties go for around the areas you're interested in. A quick trip to the Land Registry Office and less than a hundred bucks gives you the actual selling price of any property in town
3. Get a real lawyer. Not Alien(<>..<>)
4. Get a mortgage survey. Don't get title insurance. It's worth the extra money.
5. Buy with your head, not your heart. Don't pay more than you want.
6. Move to London. Dammit.
1. Research what you want, areas, amenities, price-range.
2. Research what properties go for around the areas you're interested in. A quick trip to the Land Registry Office and less than a hundred bucks gives you the actual selling price of any property in town
3. Get a real lawyer. Not Alien(<>..<>)
4. Get a mortgage survey. Don't get title insurance. It's worth the extra money.
5. Buy with your head, not your heart. Don't pay more than you want.
6. Move to London. Dammit.
First off Gem - see how much of a mortgage you qualify for. Second - where do you want to look around? Use an agent that knows the area. Don't use some young person - always go with an older agent - experience counts for something. Third - come see me as well on Thurs - or maybe I'll pop into MI before that to talk to you. My dad was 30 years in the biz. There's just about no one that he doesn't know. From helping him out, I know a lot of people in the biz as well. Feel free to pm me. I'll do what I can for ya.
Also - you want more than 5% down as well. Ideally, you should put down 25% - that will save you the CMHC fees. If you don't have 25%, you may want to look at carrying a 2nd mortgage. The money you pay for interest on the 2nd mortgage will be offset by the thousands you could save on CMHC fees.
Also - you want more than 5% down as well. Ideally, you should put down 25% - that will save you the CMHC fees. If you don't have 25%, you may want to look at carrying a 2nd mortgage. The money you pay for interest on the 2nd mortgage will be offset by the thousands you could save on CMHC fees.
real estate
some points to ponder.....
The only time a realtor really works for you is when you are buying. So put he or she to task ask everything and go see everything, even the things that you don't think are within your price range.
buy the most expensive property you can afford, never buy the most expensive house on the street let the bigger homes bring up the value of yours.
It really is worth the cost of a home inspection.
when looking into fixer uppers.. estimate 25 % higher than what you think any repair costs.
location, location location, did you know that Mississauga likes to put income assisted housing just about everywhere.
Talk to your perspective neighbours especially if you have kids and even more especially if you are looking at a townhouse or a semi.
allways lowball your first offer, even if your realtor tells you not too.
Good Luck,
some points to ponder.....
The only time a realtor really works for you is when you are buying. So put he or she to task ask everything and go see everything, even the things that you don't think are within your price range.
buy the most expensive property you can afford, never buy the most expensive house on the street let the bigger homes bring up the value of yours.
It really is worth the cost of a home inspection.
when looking into fixer uppers.. estimate 25 % higher than what you think any repair costs.
location, location location, did you know that Mississauga likes to put income assisted housing just about everywhere.
Talk to your perspective neighbours especially if you have kids and even more especially if you are looking at a townhouse or a semi.
allways lowball your first offer, even if your realtor tells you not too.
Good Luck,
You have a pretty good idea of the price range you can afford, and now it's time to fine tune and have everything come together.
Step 1: Pre-approved Mortgage
Obtaining a pre-approval tells you exactly how much you can afford and guarantees your rate for up to 120 days. Now, you can buy a home with the confidence of knowing you qualify. It also shows the vendor you are serious about buying the home and keeps you several steps ahead of others in the market.
Step 2: Preparation
Now that you know your price range, you can begin the search. First, make a Checklist of your needs the home will fulfill, such as: type of home, type of ownership, location, inside and outside features, condition, and other matters such as property tax levels, etc. At this time, you should decide on a lawyer so that he/she will be ready to check all legal documents to ensure your interests are protected.
Step 3: The Search, for house and agent
With your pre-approval, personalized needs checklist, and lawyer at hand, you are ready to start looking at properties. At this time, it is important to find yourself a real estate agent to help you with your search. The real estate agents have a lot of information readily available for sale and the current selling prices. They can help you fine tune your personalized needs checklist; explaining the types of property and ownership, recommending neighborhoods, pointing out inside and outside features, and condition of a particular property.
The agent also is skilled at preparing the paperwork involved in making an offer to purchase and closing the sale (your lawyer will be handy here to review any offers). Make sure that you communicate your needs clearly, as you are responsible for all decisions. Choosing the right agent is important for you as you are placing a lot of trust on them to help you with your purchase. Ask friends and relatives if they could recommend someone. Chances are, if they are recommending them, there was something about the level of service and commitment they received from them.
Once you have found the right home, visit it at least twice, once in the daylight and once at night, and have your needs checklist with you.
Step 1: Pre-approved Mortgage
Obtaining a pre-approval tells you exactly how much you can afford and guarantees your rate for up to 120 days. Now, you can buy a home with the confidence of knowing you qualify. It also shows the vendor you are serious about buying the home and keeps you several steps ahead of others in the market.
Step 2: Preparation
Now that you know your price range, you can begin the search. First, make a Checklist of your needs the home will fulfill, such as: type of home, type of ownership, location, inside and outside features, condition, and other matters such as property tax levels, etc. At this time, you should decide on a lawyer so that he/she will be ready to check all legal documents to ensure your interests are protected.
Step 3: The Search, for house and agent
With your pre-approval, personalized needs checklist, and lawyer at hand, you are ready to start looking at properties. At this time, it is important to find yourself a real estate agent to help you with your search. The real estate agents have a lot of information readily available for sale and the current selling prices. They can help you fine tune your personalized needs checklist; explaining the types of property and ownership, recommending neighborhoods, pointing out inside and outside features, and condition of a particular property.
The agent also is skilled at preparing the paperwork involved in making an offer to purchase and closing the sale (your lawyer will be handy here to review any offers). Make sure that you communicate your needs clearly, as you are responsible for all decisions. Choosing the right agent is important for you as you are placing a lot of trust on them to help you with your purchase. Ask friends and relatives if they could recommend someone. Chances are, if they are recommending them, there was something about the level of service and commitment they received from them.
Once you have found the right home, visit it at least twice, once in the daylight and once at night, and have your needs checklist with you.
