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

In Canada, the no money down 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 home. However, given the current finances with tighter lending restrictions, you will see no bank or lenders who is able to do that in Canada.

The buying home for half price did use to exist as well. At one point, foreclosures in Canada would allow foreclosed homes to be sold at rock bottom 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 or else the lenders could be sued. Hence, sometimes foreclosed homes sell higher because Canadians have the misconception that foreclosed homes are a excellent deal causing it to get a reverse affect. There were many people buying foreclosed homes believing they got much and not performing a thorough check regarding the actual value of the house.

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

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

The first thing to be aware of is the AGENT. AN AGENT is suppose to act on your behalf to buy or sell the home. 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 AGENT.

In Canada, each AGENT gets an average of 2.5% and sometimes 2% for the commission of selling the house. Some REALTORS provide cash return rewards. Canadian Real Estate Agents gets higher commission than anywhere else. In United States, their REALTORS only get 1% of the commission and their homes are in fact 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 REALTORS are ethical. (http://www.howrealtorshelp.ca) Where do they get the idea any Real Estate Agent off the street is ethical. Their claim is based on these tests that they pass to become a AGENT. Agents passing a test will not meant hey are ethical. It only means they can 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 provide them advice and in my opinion, the ethical AGENT should do that. However, the true reality is that REALTORS do not make money unless if the home is purchased. The reality is that the Real Estate Agent’s salary isn’t truly dependent on providing you advice. The Real Estate Agent’s job would be to get the buyer to get a home through them so they can get paid!

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

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

So what sort of characteristics does the Good AGENT have that the Good AGENT does not have?

1. Belize Property For Sale The initial characteristic is Patience. Bad REALTORS will try to sell you a home quickly to get the money quickly. Do not purchase a house without spending a lot of time looking at several different homes. Be cautious of tactics such as Real Estate Agents claiming it is the perfect and acting like a salesman rather than providing you information.