MONTREAL MORTGAGE SOLUTIONS

Thinking of buying a home in Montreal soon?

Whether you currently rent or own, the best thing to do before shopping for a home is to get pre-qualified by a mortgage broker.

Why use a mortgage broker instead of a bank?

1. A mortgage broker has access to most of the major banks to get you the best financing. It's a one-stop-shop!

2. A mortgage broker has access to pre-negotiated rates which means you'll get the best rates without the hassle

3. A mortgage broker only gets paid when you get your loan, which means they work hard to get you approved. A bank employee gets paid even if they refuse you.

4. A mortgage broker can offer you extra incentives and bonuses when you get your loan through them. Everybody loves extras!!

5. A mortgage broker can get you financing with 0$ CASHDOWN.

6. A mortgage broker services are FREE. They get paid by the bank.

Why wait any longer to get your pre-qualification?

To get more information or to get pre-qualified, simply click on the link below and fill out the form. A qualified mortgage broker will contact you shortly to get the process started and to get you on your way to your new home.

MONTREAL MORTGAGE SOLUTIONS

The Montreal foreclosure market is a little different from the rest of Canada and the United States. That is mainly due to a different law system. Quebec operates on the Civil legal system while the rest of North America abide by the Common law system.

The law and banks

In the old foreclosure laws, banks were not allowed to make a profit on homes that were foreclosed. Recent law changes have now opened the door to banks profiting from homes that were repossessed. This has changed the way Montreal foreclosures are sold.

Selling Montreal Foreclosures

Banks obviously want to make the most profit they can, so they get the best people to sell their houses; they use real estate agents. The agent prices the house at or above market value to try to get the best price.

Here are the differences:

Advantages

-->The bank first wants to make its money back and second make profit.

-->A low offer that is at least above what the bank is owed has a good chance of being accepted. This is only offset by competition.

-->The average discount on a 200 000$ home is 20 000$ - 30 000$.

-->After a certain time the bank will accept very low offers.

Disadvantages

-->Competition tends to be high unless there is a serious problem with the house such as a failed foundation.

-->The bank can in no way be held responsible of any hidden or latent defects.

Buying Montreal Foreclosures

The way you get access to foreclosures is by contacting a real estate agent or you can easily get it online by sign up to the Montreal Foreclosure List.

Well, make yourself comfortable. I hope you enjoy yourself here and learn a little bit about Real Estate and all it's wonderful aspects. I intend to post up here from time to time with valuable information for those of you who are interested in real estate. Check back often and tell your friends to come to get the most up-to-date info and tips about Real Estate.