We already like a house in the community where we wish to live.
Still is it essential for us to hire our own real estate agent or should we talk to seller real estate agent?
Which way it is easier & i still want to save some money as well.
In addition to this what questions we should keep in mind to ask before buying a house because we are first time buyer.Any input will be highly appreciated.
I am in GTA now a days.

-----------------------------------------------------------------
rajas

My personal opinion is that if you are a first time buyer, it is advisable to look for an agent that will work for you and have your best interests in mind ( do not think this is not possible, everyone does his/her pait puja but there are always those who while doing their pait puja will also do the same for you)

However, for the answer to your question, it is not necessary to have your agent.

I have bought several investment properties sans agent, but for my first home here in Canada, I did hire my own agent after speaking to several and narrowing it down. You kinda get to know all the essentials.
Though if u r comfortable with the seller's agent and feel he/she is giving you the proper low-down, it's cool to deal with that person as well.

Hi Rajas !
I dont know if you are aware or not that unlike India Buyer doesn't pay any commission to the agent . If the RE agent is good he can negotiate better prices for you . In my case RE didn't negotiated very well but yes he did advised me the shortcomings of several properties that I liked . He could have easily sell them to me and make his commission quickly .
You must ask if the owner has done any major repairs ( due to leak or something ).
Is the windows upgraded ?
How old is the heating system ?
Mighty important - How many amps for Hydro ?
When was the last time roof was done ??
What kind of wires has been used for electricity ?
Plumbing is copper or steal ( very old ) .
Has house been under fire ever ( reconstructed thereafter ? )
Is the basement legal ?
Is there is a potential of renting out the B/M ?

I am not an real estate specialist . I have jotted down above from my personal experience . May be RE professionals can add more to it ...
Best of luck with your first purchase
Ashwani

-----------------------------------------------------------------
Growing Old Is Mandatory ..Growing UP is Optional

Hello Rajas,
You can look at the link below to have some more information:

http://thegtahomes.newsportrealtor.com/wNewsDetails.asp?id=45875#

-----------------------------------------------------------------
Sanjeev Manocha, MBA
Real Estate Sales Representative
Accredited Buyer Representative (ABR)

Re/Max West Realty Inc, Brokerage
96, Rexdale Blvd., Toronto

Mobile: 416-843-7600
Office: 416-745-2300
http://www.manocharealty.com" rel="nofollow">LINK

Thanks Everyone,

who took time to help us.
We did went couple of places yesterday & one of the houses we like as well.
Now mortgage, one of our friends told us shop around first.
My questions are:
1. How much shop around help?
2. What are the rates now a days.
3.Anybody who just bought house ,any experience with different banks?
4. Whichever bank you go they do credit check always so does it effect credit score because we might have to go 2 or 3 places?
All the inputs wil be highly appreciated as decision is one ot two days ahead.
rajas

-----------------------------------------------------------------
rajas

Mortgage broker is a big help in this regard . He will pull your credit history ONCE and based on it will negotaite with diff banks . Again pls remember that you don't have to pay him anything . Generally lender pays his fees . So its a win win situation .

-----------------------------------------------------------------
Growing Old Is Mandatory ..Growing UP is Optional

I purchased many times and sold many times in North America:
Agents only work for themselves but do help if you ask the right questions.
negotiate to your own pleasure not listen to the agent.
Ask for the area property sale report for the last six months.
So in the end you have to watch for yourself but have an agent when you are buying and do not know the seller.