real estate agents

How Real Estate Brokers Can Help You With Your Purchase Agreement

When you decide to purchase or sell a home, you are faced with the question of how you can go about finding a real estate agent without being a target for unscrupulous behaviour. While the answers to these questions may vary depending on your circumstances, needs, desires, and circumstances, it’s important to be aware of how to handle potential issues with your real estate broker. In most everyday situations, individuals are under no obligation to keep someone else’s interest in mind and can better handle one another at arm’s length. Unfortunately, that rarely takes place in the real world, so it’s important to be aware of how to avoid unscrupulous behaviour by real estate brokers.

Kickbacks and Dodgy Deals

One of the most common ways how real estate agents make money off of a property sale is through kickbacks. It’s a scam in which the real estate broker collects a commission for selling a house for a higher price than what it’s worth. This happens in a variety of ways, but the basic idea is that the seller signs over the deed of the property to the real estate broker in exchange for a down payment. At the closing, the seller will be reimbursed with a large part of the closing costs. Unfortunately, kickbacks are not illegal, but it would be wise for buyers to inquire about them before signing any type of agreement. You should also ask your agent whether they will charge a commission upfront before providing any settlement services.

Another way agents can profit off of a transaction is through a “dodgy deal.” This is when an individual intentionally buys a home to pay less than its fair market value. Real estate agents often refer to these deals as “short sales” or “for sale by owner” (FSBO). This can be a risky strategy, as it presents buyers with an opportunity to save thousands of dollars, but some intentionally play the game to skirt financial disclosure requirements by deceiving buyers.

Sub-Prime Lending

One of the most common ways that people get into short sales is through sub-prime lending. This involves taking out a mortgage at a much higher interest rate than you might normally pay. Many individuals fall into this trap when they take out a conventional loan to purchase their home. By taking out a high-interest mortgage, they can afford to buy a home at a reduced price because their income will cover the difference. However, when the mortgage is paid off and homeowners find themselves in default, their only option is to sell to stay current on their mortgage payments.

real estate agents

Listing agents can benefit from a case like this because they can charge more to sell a home to a buyer who intends to remain in the home for a long time. Unfortunately, they must disclose any problems associated with the deal to the listing agent who will then make the buyer aware of the potential pitfalls. These problems could include but are not limited to, overpriced materials, renovations that did not add value to the home, or other issues that would prevent the buyer from taking ownership of the home. Because these are some of the riskiest situations to sell a house through, listing agents must disclose this information if they want to see a return on their investment. It may cost them money to do so, but it will make the process much smoother for all parties involved.


Another issue that has arisen due to real estate agents without fiduciary responsibility is foreclosures. Foreclosures can happen to realtors as well as homeowners. When a homeowner defaults on a loan, a realtor is the next line of defence. The mortgage company will send a Notice of Default to the realtor. Once realtors receive the Notice, they must do what is required by law and contact the homeowner to determine the next step. If the homeowner does not respond promptly, the lender can then take over the property and sell it to recoup the outstanding balance.

Real estate attorneys can help borrowers deal with lenders when this occurs. They can draft and file a Purchase Agreement (PA) that protects the lender from default. The Purchase Agreement should contain a contingency clause allowing the lender to recover its loss in case of non-payment. A contingency clause is designed to provide security for borrowers by requiring the lender to pay an amount equal to the purchase price if the house is sold to cover the contingency. Although a contingency clause may sound cumbersome, many buyers find it to be an effective and convenient method of purchasing real estate.

Another factor borrowers need to consider is whether the real estate broker is properly compensated. The broker may receive a portion of the commission earned through the sale. This fee is typically 10% of the final selling price of the property. However, it may also be affected by the transaction fees deducted by the buyer. Brokers need to discuss these fees with their clients before signing the contract.…

first homebuyer tips

First Home Buyer Tips

Buying your first home can be a big investment for the whole family. It’s a huge purchase for yourself too so you must work smart when buying a home. The first and perhaps most important first home buyer tips are to figure out your financial budget first so that you know exactly what you can comfortably afford. When you are estimating how much down payment you need, consider your income and consider future expenses like college tuition. When determining the size of your down payment, keep in mind that you should not put all of your savings into your first home.

Another first home buyer tips is that home buyers need to know the right home type. There are several different types of home buyers, which could include first time home buyers, investors, homeowners, and renting. First time home buyers usually buy a lower-cost home. Homebuyers who decide on a home-based on investment or renting probably put more money into their home than someone who is purchasing a home for the sole purpose of renting. Most new home buyers try to find the perfect balance between affordability and functionality. It depends on the home itself as well as what you plan on doing with it once you get it.


A great first home buyers tip is that many people who buy their first home choose to live in a condominium. Condominiums offer several advantages that can help save you money on both land costs and home improvement costs. When looking at a new home or resale market, condominiums typically rank very well due to their low prices and a limited number of homeowners. A condominiums management company can help you make the most of your new home purchase by providing you with financial and home information assistance including common home maintenance and common home repair problems so that you can efficiently address these issues when they arise.


Another first home buyer tip involves how you handle your first home mortgage. You can often save thousands of dollars on your first home mortgage if you go about borrowing for the down payment and closing costs in the right manner. If you want to learn the best possible credit score to borrow for a mortgage in this economy, you need to understand the basics of your credit score. Your credit score is an important key that will determine the interest rate and cost of your first home loan.

first homebuyer tips

The process of buying a home is usually very overwhelming for first home buyers. The first home buyer tips that you should keep in mind include asking lots of questions, reading contracts, carefully comparing home loan products and services, and taking advantage of any free homeowner programs available to you. These free homeowner programs can help you reduce the stress associated with the buying process. Once you understand your needs, you are much more likely to make an educated and informed decision regarding your first home purchase. A real estate agent can also assist you in many of these areas but it is often better to keep everything in the family and close friends circle.

The first home loan tip that you should be concerned with is whether or not you will be paying stamp duty on your new home purchase. This is often required when you buy a new home in Ireland. The stamp duty tax is considered to be a form of sales tax in the area in which you live in Ireland.


A first home buyers’ first home loan deposit scheme can be a good way for you to fund the purchase of your new home. When you apply for your first home loan deposit scheme, you may qualify for a starter home plan. This is a special scheme that works in conjunction with a lending company to provide you with a first home loan deposit. With the starter plan, you would pay a one-off lump sum that is held as security for the loan that you take out with this particular lender. If you repay the money within the specified time the amount of money that you paid as the home starter deposit will be returned to you.

Other first home buyer tips that you should keep in mind when you are considering buying a new home is to research as much information about the home that you want to buy as possible. There are numerous books and websites available online today that you can peruse and gain an understanding of what you are looking at when you are considering buying a new home. You should also consider the location that you are looking at. This will impact your decision on how big of a home you will be able to afford and whether or not it will be convenient to drive to work or school and other necessary daily activities. You mustn’t fall into the trap of purchasing a home that is too small for you to afford because of these factors.…