This article is not concerning the secrets of buying a rental Best Properties for Rent and Sale in El Paso property for no money down and half the cost of the market value of the home. I’m not Tom Vu or Don Lapre and I am not in jail.

In Canada, the no money down home did use to exist, however, not anymore. Some banks and/or lenders were ready to lend you the 5% down payment so that you need not pay a dime from your own pockets to purchase a house. However, given the current financial situation 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 aswell. At one point, foreclosures in Canada would allow foreclosed homes to be sold at very cheap prices. The new law, which has been in placed for quite some time now require the homes be sold at optimum 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 are a excellent deal causing it to have a reverse affect. There were many people buying foreclosed homes believing they got a good deal and not performing 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 many things you need to be aware of before starting.

If there exist ever a business with an increase of sneaky sales tactics and money motivated people, it’s got to the Real Estate industry. As a buyer, you could 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 piece and the sellers want piece. No wonder there are 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 home and seller of the house will have their own AGENT called a Buyer’s AGENT and a Seller’s AGENT.

In Canada, each AGENT gets typically 2.5% and sometimes 2% for the commission of selling the house. Some Real Estate Agents provide cash return rewards. Canadian Real Estate Agents gets higher commission than somewhere else. In United States, their Real Estate Agents only get 1% of the commission and their homes are in fact much cheaper. Even though REALTORS will be the least educated of the parties mixed up in buying home transaction, they seem 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 AGENT off the road 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 ought to be the true Estate Agent’s job to greatly help the buyer ensure the house is of value. Rightly so, many buyers depend on the Real Estate Agent to protect them and offer them advice and in my opinion, 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 Real Estate Agent’s salary is not truly dependent on providing you advice. The Real Estate Agent’s job is to get the buyer to get a home through them so they can get paid!

As a result of this, what eventually ends up happening, are two types of REALTORS with variations in between. The first type may be the honest agent with the belief “EASILY 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 the next buyer (sucker) so that I could maximize my time for profit.” The end result is that you are looking for the first type and you also want to avoid the second type.

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