June 1, 2007
Posted June 6, 2007 12:00 pm.
This article is more than 5 years old.
MonsterMortgage.ca
When it comes to first-time home buyers and mortgages Don Byer from MonsterMortgage.ca suggests, “Most banks offer a prepayment privilege and they range from 10 to 25 per cent per year. So if you’re looking for some flexibility there are some lenders that are a little more aggressive in how much you could pay them back per year. The key is always to make sure that the prepayment privilege is based on the original mortgage amount and not the balance on the anniversary date. Because it does make a difference.”
http://www.monstermortgage.ca/index2.php
Dan Ellenberg
Toronto’s real estate expert, Dan answered a question from a viewer who lives in a Mississauga town house condo and is looking for a property, possibly in Milton, that doesn’t have condo fees. “You may be able to find something in the low $200,000s. A good way to start is by driving around the areas or speaking to an agent who’s familiar with that area. Maybe even writing down some phone numbers on signs you see on some town homes and calling the agent. That’ll give you a pretty good indication, much faster than going on the Internet or looking in the newspapers. That way you can see the actual homes for sale and find out what they’re selling for,” he said.
Tridel
Tridel’s Jim Ritchie spoke about whether it’s an agent’s responsibility to notify their client if someone else has made an offer on the same property they’ve put in an offer for. “First of all as the real estate agent you have to get something in writing from the seller stating that they’re going to wait to hold off on other offers. As a listing agent you have to notify all agents who show the property of anyone who’s expressed interest. There’s a lot of steps involved if you decide to jump the gun.”
