Trying to Purchase first House

[intravino]

Hey,

I am trying to purchase my first house and I am seeing that the MLS.ca listings are at the minimum 3 days old. So when a new house hits the market it is almost sold. Now anyways, maybe after the spring rush it could be better. I am in no rush to buy now and I am in Montreal.

I've used 2 agents to TRY to find me a house. Two idiots. Just for their pockets obviously I guess. They don't want to search new houses for me.

They just show me the inventory of unsold Houses (overpriced, POT houses with mold, 50 K repair bill houses).

I use www.micasa.ca alert system that is not bad but they do not have the same amount of listings as mls.ca

What to do?

Thanks,

Intravino

[StarvinStudent]

Most realtors will set you up in a system to receive new listings automatically that meet your criteria. As a result, you receive the listing 4 days prior to the listing making it on MLS. I ran into this situation last year as well and as much as I hate having to use a realtor, it became a necessity given Alberta's housing market. You should find a better realtor:confused: ?

[advantage21]

Hey,

I am trying to purchase my first house and I am seeing that the MLS.ca listings are at the minimum 3 days old. So when a new house hits the market it is almost sold. Now anyways, maybe after the spring rush it could be better. I am in no rush to buy now and I am in Montreal.

I've used 2 agents to TRY to find me a house. Two idiots. Just for their pockets obviously I guess. They don't want to search new houses for me.

They just show me the inventory of unsold Houses (overpriced, POT houses with mold, 50 K repair bill houses).

I use www.micasa.ca alert system that is not bad but they do not have the same amount of listings as mls.ca

What to do?

Thanks,

Intravino



If you are not happy with your broker, you should fire them and find somebody who is willing to work with you in a way that suits your style.

[grant]

I've used 2 agents to TRY to find me a house. Two idiots. Just for their pockets obviously I guess. They don't want to search new houses for me.
If the market is so hot that all houses are selling in 3 days, then most agents have a lineup of buyers asking the same thing you are "can you show me a good property!" ... it's no wonder that strangers who may or may not be serious buyers don't get top attention.

If you are determined to buy under such conditions (I really don't like it... no time to think = rash purchase + pricing decisions) then you need to find an agent who is so hungry for business he's willing to search the MLS 2x a day for you.

Your best bet is a brand new realtor who is just starting to build their referral network. Whoever you use, make it CLEAR that you want at LEAST daily updates on new listings.

[thecodemonkee]

Hi all,

I'm in the same situation of wanting to buy my first home. I always assumed that getting a realtor is the best way to do this. What should I be looking for in a realtor? Are they the best person to put you in touch with a mortgage broker? Should I manage getting the mortgage myself?

I am looking to buy in the Waterloo area by mid to end of June. Am I cutting it too close?

Thanks

[Muncher]

I signed a buyer agreement with a realtor that she'd be my exclusive agent and represent me as buyer, not represent the seller. She was then very enthusiastic to find me something as she knew I wouldn't default on her with other agents.

[don242]

Hi all,

I'm in the same situation of wanting to buy my first home. I always assumed that getting a realtor is the best way to do this. What should I be looking for in a realtor? Are they the best person to put you in touch with a mortgage broker? Should I manage getting the mortgage myself?

I am looking to buy in the Waterloo area by mid to end of June. Am I cutting it too close?

Thanks

Experiences with brokers and realtors are different for everyone. In general it is probably still best to use a realtor. Of course some give you more attention than others and do more for you. If you don't have anyone specifc in mind then sometimes a good idea is to look for homes yourself. Phone the selling realtor to see the homes (but don't "work" with that realtor by signing anything) initially. If you see a home you like, then sign up with the selling realtor and because the realtor is both the buyer and seller, he should give a discount to the seller which means part of that discount can hopefully be passed on to you in terms of a lower offer. However, if you are unsure about how to proceed on things, it is helpful to just contact a realtor and get them working for you and helping you through the process.

I know a good realtor in Kitchener who probably handles things in Waterloo as well. She is a very good person who is quite helpful. PM me if you are interested and I will try to get the information for you.

As for the mortgage, a mortgage broker is easier and can usually get you the best rates and takes care of everything for you. Occassionally you can get a better rate at a bank but not without some serious negotiating (and probably requiring you to open every account they offer with the bank as well).

If you are looking for mid-June, then you better get started now. Probably would have been better to start a little earlier.

[thecodemonkee]

Experiences with brokers and realtors are different for everyone. In general it is probably still best to use a realtor. Of course some give you more attention than others and do more for you. If you don't have anyone specifc in mind then sometimes a good idea is to look for homes yourself. Phone the selling realtor to see the homes (but don't "work" with that realtor by signing anything) initially. If you see a home you like, then sign up with the selling realtor and because the realtor is both the buyer and seller, he should give a discount to the seller which means part of that discount can hopefully be passed on to you in terms of a lower offer. However, if you are unsure about how to proceed on things, it is helpful to just contact a realtor and get them working for you and helping you through the process.

I know a good realtor in Kitchener who probably handles things in Waterloo as well. She is a very good person who is quite helpful. PM me if you are interested and I will try to get the information for you.

As for the mortgage, a mortgage broker is easier and can usually get you the best rates and takes care of everything for you. Occassionally you can get a better rate at a bank but not without some serious negotiating (and probably requiring you to open every account they offer with the bank as well).

If you are looking for mid-June, then you better get started now. Probably would have been better to start a little earlier.

Thanks for the tips ... check your PM.