If I had a house like that I would do drugs all the time


Maybe this is why I don't have a house like that

I thought you did drugs all the time regardless? :troll:

What are the benefits and downsides of going with a Mortgage Broker vs simply going into a bank?

Also, for a buyer, what benefit will a realtor have besides them doing all the leg work to find and schedule viewings for the buyer? Price wise is it typically cheaper to go without realtor and have the seller's realtor discount you on the commission or would a buyer's realtor be able to negotiate better?

You can get a better rate from a mortgage broker.

In terms of having your own agent they can give you advice, how to neogiate a better price and help you with the contracts.

Friend of mine recently bought an townhouse, while he was looking he made an offer to one of the townhouse and have an inspector to inspect it. There seems to be some issue with it and he wanted to back out. But the contract he sign mentions that even if the inspector report came out bad he still have to purchase it as long as he can get a mortgage. Long story short he was freak out........ Luckily the seller decided not to sell it.

Same friend he finally made another offer for an apartment the seller thinks the price is too low and didn't contact him at all. After a few weeks the seller's agent call him and asked him to submit another offer maybe higher than his orginal one as there are other people making offers as well. So my friend offer $5k higher, which imo is stupid if he have an agent he wouldn't have jump the offer by this much. If the seller comes back it basically means they want to sell it badly so even a $500 increase should be fine.

So having an agent can help you to make sure all the fine print is there. Remember the seller agent is working to get the most money out of you not the other way around.

In a perfect world, a mortgage broker is supposed to do all the legwork for you in getting you the best rate available by shopping from a whole bunch of different financial agency. In the real world, however, assuming that you have a really good working relationship with a certain bank, the personal relationship might be able to get you a better rate. I have seen both situations happening (on different occasions, of course), so in the real world, you are still going to want to do some interest rate shopping on your own.

For the buyer, the benefit in having your own realtor is, by using only the seller's realtor, there is a potential conflict of interest issue happening. Again in a perfect world, a realtor is supposed to look after your interest in the transaction, so supposedly, having your own realtor should mean that he is there to, first and foremost, look after your interest in making sure that the place you are buying is a good buy. By using the seller's realtor, he might just be motivated to sell, so the prospect of keeping a larger share of the commission might mean he won't look out for your interest quite as much. And obviously, if you have a realtor that you have a personal relationship with, obviously that brings a better chance where he will be on the lookout for you.

Not too sure about that part, family have been screw by real estate agent whom we known for years. It seems the closer they are, the more they will screw you over........ after all who would expect a family friend to screw you over.

Ugh... sorry to hear about absolute bullshxt like that.

Of course that kind of nonsense can happen, but generally speaking, I still believe that having an established relationship with a realtor should bring about a better transaction experience. That's supposed to be how trust and relationship works in general, right?

Actually data shows that using the seller's realtor does not always work in favor of the seller. It is in realtor's best interest to close deals as fast as possible and because they only receive a small percentage of the sale, the marginal increase in their profit is usually not worth losing a potential buyer. Statistically, realtors sell their clients property faster and at lower prices than when they are selling their own property.

Realtors are also covered by errors and omissions insurance and have access to MLS.

Benefits of a mortgage broker is they can usually find the best deals for you quite quickly and do most of the work for you. You don't pay anything extra as the bank pays the commission.

Banks usually give you the run around and it takes up your own time to go apply, etc.

That said, you should still approach some banks to see what they can offer you. I used a mortgage broker the first time but on renewal, the bank I was with pulled out all stops to beat any other offers I guess due to established good relationship. Even the mortgage broker said he couldn't beat it and told me to go with the bank.


Upsides of not having a buying realtor is saving the commission on the buyer side.

Downsides are you don't have access to more detailed MLS information and history of the listings. Other realtors may be reluctant to deal with you if it's between your offer and another offer with a realtor. You're doing all the leg work and setting up all of the appointments yourself and burning your own gas money, minor issue but I hate looking for an address and parking too.

Buying a place is already stressful enough, I prefer to have others handle some of the issues for me especially for my first time when they can walk you through it.

I'm going to do drugs right now, but only because a morning bong toke helps me take a big dump before my morning seawall ride prior to my morning $5 coffee


:woot2:

Vancouver to collect data on property speculators, empty dwellings | Vancouver Sun

It’s interesting that officials in London, England, faced with wealthy buyers from Russia to Malaysia, are considering taxing empty houses and condominiums.

And other jurisdictions, including Hong Kong and Australia, have a host of restrictions on foreign ownership. There are few countries that don’t. Even the U.S. does.

although i applaud the effort, i think it's too little too late that the government can do anything tangible to save Vancouver real estate from a soft landing at this point.

edit: opps, actually meant a hard landing. soft landing is only for the people who think Vancouver is special and this time is different.

typical Canadian head-in-the-sand thinking. whether you want to admit it or not, China will most likely challenge U.S. hegemony in this century. The chinese will continue to go all over the world to secure resources and assets that are critical to their economy. just because we canadians put all our eggs in one basket (energy) which it has worked for the last century, it doesn't mean it will continue to work in the 21st century.

i hope the governments will not stand in the way of free market. if some chinese think it is wise to pay 5+ million for a 4500sqft house in vancouver west, go ahead, let him or her do it. obviously some of them have never heard of mean reversion and the difference between what you pay and what you get. but leave that natural process to the market not the government.

What you guys think on buying a condo in a complex with low-income housing or below market rentals?

For residential purposes or for investment?

If it is for residential purposes, I don't see why you should avoid it solely because of the low-income housing / below market rental factor. The low-income housing thing should be a factor for you to take into consideration, but it should only serve as one of the many considerations you take into account.

For investment purposes, however, I'd think that the low-income housing factor would play a bigger role. But again, it shouldn't be the sole factor for you to consider.

I think Ed Hardy, pit bulls, lots of tattoos and maybe even some juggalos

I wouldn't do it no matter how cheap it is. First you will have a hard selling it at all. Second a lot of these people have issue and they aren't the nicest neighbour or people you want to see day to day. Trust me the company for provide cable service for a building like that and it is a nightmare. Techs don't want ot be there (needles inside their suite, the building is messy and garbage everywhere and these suites are so dirty we have to refuse appoitments). These people call in and scream and yell because their service got cut off due to them not paying their bills for months. A few times they came to our office and we have to call the police because they are acting very aggersive.

There are a few that's good and are actually trying to improve but they are far between. So my advice is don't waste your money and buy somewhere else that's better.

You would end up being in a niche market - not what you want when it's time to sell, as your market dictates your value, less market mostly leads to less value.

If you can't afford to buy, don't. And don't be ashamed by that. Life is about living and loving, not being indebted to a piece of mdf and framing

This city blows anyways.http://weber.$$$$$$$$$$$$.com/3.jpg

I see what you're saying, but I liken this to buying/selling a US import car, or a rebuilt car. You can use either of those facts for you when negotiating a buying price to get a great deal. Just remember that when it comes time to sell, potential buyers can/will use those exact same points against you, and don't expect to get the same full market value as a local car or one with a clean title. At the end of the day it all depends on the numbers.

Dat architecture is insane!
Would be tough to choose between this or Shangri la to live in.

Vancouver House tower makes enemies before it's built by targeting Asian buyers

Many white people invest in tattoos and DJ equipment and not a good financial manager and property


I probably put a condo up my nose

That reminds me of a joke!

Why do Meth heads love halloween?