About 70% of all deals will run into a snag.

These all could be deal breakers if not handled properly. The solution to these “situations” is dedication, research and a lot of plea bargaining and negotiating. These “situations” could be anything from declined financing, irregularities on the certificate of location, timelines not being met, fighting among buyers and sellers, municipal assessments not done properly, building inspections gone bad and many more.

For example: My client bought an apartment building that came with a house as part of the title. He renovated the house, legally divided the two properties and now wanted to list the house to sell. Between the two properties was a shared driveway to their garages. Because this is now a new division, the city hadn’t assessed the house for the taxes. Now we have an accepted promise to purchase in which one of the conditions is to accept the taxes.

After many phone calls to the city, we were told that the driveway is called a “indivise horizontal”, like a duplex gone co-coop (indivise vertical), similar to a condo building that is shared which comes with rules and regulations and owner percentages. We asked the city how this should be done. They didn’t have the answers even though this was a policy that they put into place. They had to call a specialised city notary who had to research it. The land surveyor and the city were consulted and it took over two weeks to get the right directions for the seller’s notary to prepare the supporting documents. Once that was done, a city appraiser would have to assess the property to calculate the new tax bill. However, there was a 3 month backlog.

What saved the deal was that the city appraiser gave us some clues on how to find comparables and do an average to find out an approximate cost of the taxes. I was online looking at all the buildings and land that I could find in the allotted area and came up with an approximate average of tax prices that I could present to the buyer. Luckily the buyer accepted. Our deadline to sign was in 3 days. We made our signing deadline and everyone was happy.

Without the persistence of my vendor, the helpfulness of his notary and my research this deal may have been lost. Another great reason to be surrounded with dedicated professionals.

Hi I’m Jennifer Walker, the author and Real Estate Broker. For more info call me (514) 402-8444 or EMAIL ME!

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It seems to me in that moment that either the buyer thinks that the question is too personal, over the top and not part of the real estate equation or that I’ve picked them out of a crowd and questioning their self worth. It’s a question I HAVE to ask and need to know for many reasons. It IS part of the real estate equation and a big part of it. It’s the deciding factor, the guts, the know all. And it’s not about

whether or not you can afford it, it’s about how much the bank is prepared to lend you, at what rate and for what type of building.

Real estate agents need to know if you’ve been pre-approved for these reasons:

Your benefit:

Writing the offer
Something you might not know as a buyer is that when the offer is written, the realtor will be filling out a mandatory Annex A, which is all about the financial part of the deal. On it it will state how much of a deposit you will put down, the mortgage amount, the interest rate, the term and amortization length. Your realtor will also be calling the banker or mortgage broker when the offer has been accepted to pass on all the neccessary paperwork. Also, since getting the mortgage is on a short timeline, your realtor should be on top of things, making sure there aren’t any delays.

If there is a time delay, it just might not sit well with the seller and your deal could lapse.

So the next time you want to start working with a realtor…just remember, there aren’t anymore financial secrets.

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I wrote this article because I love real estate. If you would you like me to work for you, call me 514-402-8444 or EMAIL ME!

To search properties go here www.Montreal-Properties.com

Before I get into commission rate, I have to say this: “All agents do not offer the same service for the price you pay”. I will get back to this later on. This does have a direct effect on the commission.

The law
As an agent, the real estate law does not permit me to say things like, “well the average rate around here is…” or, “agents usually get about this amount”. That’s a no no.

Negotiating
Most vendors don’t realize that

yes you can negotiate the commission rate. There are lots of interesting ways to pay an agent, whether it is a flat rate or a percentage. You can get very creative. Just remember though, if the agent is too easy negotiating their commission and low-balling themselves, are they the agent you want representing you at the table negotiating your interests???!!!

Caution! – Brokerage contract
If there is another agent involved who is bringing the buyer, it does not state in the brokerage contract how your agent will be paying the other agent. Most everyone assumes that the fee is split in two, 50-50. That is NOT the case.

Please tell your agent what you want to see happen or what they suggest.

A story of commission – A big learning lesson for the Vendor
This story happened to me about two years ago. The vendor who was an experienced contractor who bought, fixed up and sold a lot of homes. On this day, his agent didn’t show up at the signing. When all the paperwork was handed out with the breakdown of the finances, the vendor saw that the 7% commission that he gave his agent was not split 50-50 down the middle. In fact, I was only offered 2.5%, leaving 3.5% to the selling agent. As the agent bringing the buyer, I have no idea what is in the brokerage contract. I only know what is offered to me from the listing.

Splitting the commission
The commission can also be split in many ways. Let’s say you list the house with an agent at 6%. You can request that the agent offers the buyer’s agent 3.5%. It’s a great marketing approach at a time when the market that is full of listings. I’m sure that’s what the vendor in the story above was expecting; more of an incentive to other agents to bring buyers.

No matter what the commission is, remember you are paying for the services and skills of an agent. Is it a well deserved compensation.

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If you would you like me to work for you, call me 514-402-8444 or EMAIL ME!

To search properties go here www.montreal-properties.com

ance, so here are a few tips for you realtors to make a big impact.

1. Drive a hybrid. Because 33% of CO² that is being produced is from transportation (Sources of CO² in he US as of 2004). This conscious change in vehicles would make the biggest impact of all. We spend A LOT of time in our cars and when you are in the market for a new one…think green. For all you show-off realtors who need to have the best of the best, hybrids are very

trendy and hip. The choices that are coming out for 2009/2010 are swanky. Google “new hybrids” and you’ll see.

2. Recycle and reuse. How many listings do you print off that you end up not using or even keeping? Lots! Please recycle. Or better yet, turn them over and re-print on the good side. I do it all the time. It’s my copy and when it is noticed by the buyer, I can brag how I am saving the environment. You’ll be saving some coin in your pocketbook too.

3. Use electronics. Instead of driving all over to get signatures, please fax, scan, or email. As long as you pick up the originals in the end, it all works out. You’ll not only save emissions from driving, money for gas, but your time as well. Another great electronic device is the PDA (or blackberry, iphone…whatever works for you). You’ll be saving a lot of trees and you can sync it with your computer making you more organized.

4. Encourage your work to go eco. If they don’t already recycle mention it every time you go in. They’ll get the idea. Ask to receive notices by email and not by paper. Ask them not to put junk mail into your mail box. Tell them about natural cleaning products. If that doesn’t motivate them, donate some!

Love your work and your environment. Passion goes a long way and so does thinking (and doing) about what type of impact your have. Or….just ignore the environment, it will go away.

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I, Jennifer Walker wrote this article because I love real estate. If you would you like me to work for you, call me 514-402-8444 or EMAIL ME!

To search properties go here www.Montreal-Properties.com

? To attract real estate buyers. These days with the Internet, real estate buyers are very savvy. Just on your curb appeal alone along with the sales price will tell them whether or not they want to go further and see the inside of your home.

A lot of people misinterpret the facts. They look at their neighbour’s house that is active on the market and the one down the street. Those figures will only tell you one thing: what they want for their house, which doesn’t necessarily mean they are in the right ballpark to attract buyers.

To accurately find out if you are pricing your home right you’ll need to get in touch with a real estate agent. They have the software to accurately find out which homes sold for what in your area. These facts will help during the negotiation so you know where you stand.

If you are planning on listing your home and would like to know your homes comparables, please call me, Jennifer Walker 514-402-8444

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I wrote this article because I love real estate. If you would you like me to work for you, call me 514-402-8444 or EMAIL ME!

Home buying tips for the first time home buyer

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If you would you like me to work for you, call me 514-402-8444 or email me