If you’ve got the itch to buy a property right now consider the importance of using a mortgage broker Montreal expert for first-time home buyers and beyond.
First-time home buyers should always work with a professional real estate agent, that will work for you!
Before you go out looking for homes, the best thing you can do for yourself is to get to a bank or a mortgage broker to see if — and how much you qualify for, with regards to a mortgage loan.
With these experts by your side, you’re able to move ahead with confidence, and without wasting your precious time.
Mortgage Broker Montreal
Getting a mortgage pre-approval is crucial, and often, the best way is to go with a trusted mortgage broker in Montreal .
Mortgage brokers shop around for the best-suited mortgage loan for their clients. What is best suited depends greatly on the individual situation of the particular client.
For instance, a long-time government employee with exceptional credit can easily qualify for a good and straight-forward mortgage loan from their bank.
However, a self-employed person with fluctuating income can be refused a loan with a traditional bank, even with good-standing credit. That’s because banks are not comfortable about giving out big loans to clients who lack the stability and security that comes with employment.
The bottom line is that you, as a first-time home buyer in Montreal needs to know your actual budget.
Once you know your true budget, you know what to shop for and what your options really are.
For instance, while you may be dreaming of a 4-bedroom single family home, you may end up with a condo, and not in the neighborhood of your choice.
Together with your professional realtor, you can keep all your options open and set real goals, both short and long-term.
So, What Really Makes a Good Real Estate Agent?
- Understanding his/her clients needs, abilities.
- Knowing the market.
- Knowing how to negotiate.
Experience in a real estate agent is crucial. With it, the agent can devise an individualized plan for you and explain the process from A to Z.
Your agent should know who you are and what you’re capable of. Perhaps you’ll find a fixer upper, but you’re not exactly handy. And, hiring help may be way out of your league, with respect the costs.
If you’re quite handy and the home is not in top shape, your agent will work on negotiating a better price.
Making an Offer
Making a good offer is important. It saves time, for starters. It also shows the seller that you’re serious. There is usually a back and forth, until there is an agreed upon price and other conditions are met.
Getting a Building Inspection
It is highly recommended that a purchaser hires a building inspector. This is especially true of first-time home buyers.
The building inspector will provide you with a report that informs the buyer of the condition and current state of the property. It will also include the anticipate future maintence and repairs. The most important are those that are of a serious nature.
You, the buyer, at your cost, choose the notary. The notary will do a title search of the property and then legally transfer it to your name. This is a crucial step that could indicate many future changes or problems with the property.
Once in the clear, and all the necessary paperwork is done, you get the keys to your new home. Congratulations!
A good realtor will also keep in touch to ensure all is well with your purchase and will find time to respond to any questions you may have. And, a good mortgage broker Montreal expert will get you the best mortgage loan — even better than a conventional bank.
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