This article is not about the secrets of buying a rental property for no money down and half the price of the market value of the house. I’m not Tom Vu or Don Lapre and I am not in jail.

In Canada, the no money down 메이저놀이터 home did use to exist, but not anymore. Some banks and/or lenders were ready to lend you the 5% down payment so that you need not pay a dime out of your own pockets to purchase a house. However, given the current finances with tighter lending restrictions, you will see no bank or lenders who can do that in Canada.

The buying home for half price did use to exist as well. At one point, foreclosures in Canada allows foreclosed homes to be sold at very cheap prices. The new law, which includes been in placed for quite some time now require the homes be sold at the highest possible price for foreclosed homes if not the lenders could possibly be sued. Hence, sometimes foreclosed homes sell higher because Canadians have the misconception that foreclosed homes certainly are a excellent deal causing it to get a reverse affect. There were lots of people buying foreclosed homes believing they got a good deal and not doing a thorough check as to the actual value of the home.

Now, clearing out the quick money maker myths of shopping for homes, there are still a lot of things you need to be aware of before starting.

If there exist ever a business with more sneaky sales tactics and money motivated people, it’s got to the true Estate industry. As a buyer, you will be dishing out $350 000 and everyone wants a piece. The Real AUCTIONS want a piece. Lenders want a bit. The lawyers want a bit and the sellers want piece. No wonder you can find so many scams in this industry.

The first thing to be aware of is the Real Estate Agent. A Real Estate Agent is suppose to act in your stead to buy or sell the house. Both the buyer of the house and seller of the home will have their own Real Estate Agent called a Buyer’s Real Estate Agent and a Seller’s Real Estate Agent.

In Canada, each AGENT gets an average of 2.5% and sometimes 2% for the commission of selling the home. Some Real Estate Agents provide cash return rewards. Canadian Real Estate Agents gets higher commission than anywhere else. In United States, their Real Estate Agents only get 1% of the commission and their homes are actually much cheaper. Even though Real Estate Agents are the least educated of the parties involved in the buying home transaction, they appear to be getting the biggest piece of the pie.

Do not pay attention to their gimmicks on Real Estate Agents are ethical. (http://www.howrealtorshelp.ca) Where do they obtain the idea any AGENT off the street is ethical. Their claim is founded on these tests they pass to become a Real Estate Agent. Agents passing a test does not meant hey are ethical. It only means they are able to remember enough to pass the test.

One would believe it must be the true Estate Agent’s job to greatly help the buyer ensure the house is of value. Rightly so, many buyers be determined by the Real Estate Agent to safeguard them and offer them advice and for me, the ethical Real Estate Agent should do that. However, the true reality is that REALTORS do not make money unless if the home is bought. The reality is that the true Estate Agent’s salary isn’t truly dependent on providing you advice. THE TRUE Estate Agent’s job would be to get the buyer to buy a home through them to allow them to get paid!

Because of this, what ends up happening, are two forms of Real Estate Agents with variations in between. The initial type may be the honest agent with the belief “If I work hard and treat my buyer right, the buyer will come back again to buy more homes from me. The next type is the “I have to get the buyer to buy a house quickly so that I can move on to another buyer (sucker) so that I could maximize my time for profit.” The bottom line is that you are looking for the first type and you also want to steer clear of the second type.

We’ll call the first type, the Bad AGENT. We’ll call the second type, the Good Real Estate Agent.

So what kind of characteristics does the Good AGENT have that the Good Real Estate Agent does not have?

1. The initial characteristic is Patience. Bad Real Estate Agents will attempt to sell you a house quickly to have the money quickly. Do not buy a house without spending lots of time looking at a number of different homes. Be careful of tactics such as REALTORS claiming it’s the perfect and acting such as a salesman rather than providing you information. .