buying cottage property and converting it to residential

[JohnF]

Don't know exactly what you read into my post, but I will try to word things more carefully in the future so as not to offend anyone.

 

Don't worry about offending realtors. One thing we quickly acquire is thick skin. Lotsa rejection in our business, ya know.

 

Something you should know, a kind of industry maxim - "Buyer are liars". Pretty cynical sounding I know but if you had any idea how often prospective buyers come to us describing exactly what they want and then turn around and buy something totally different you'd understand. A while back I met a very nice couple looking to buy. They insisted it had to be an older red brick. I wasn't to waste their time or mine with anything else. Well, after going round and round with them they're buying a modern yellowy tan brick. It happens so often that many in our industry just figure they might as well over inform rather than under inform. In fact there's a section in our legislative regulations (that's our provincial law) that says something like "registrants (that's us realtors) must make every attempt to advise clients of all properties for sale that might suit their needs regardless of the commission offered etc".

 

Lately our industry has been under a little bit of an attack over our advertising website and much of the nonsense published in the media is pretty distorted, the same kind of misrepresentation we'd be crucified over in our own advertising. Our industry is trying to take the high road on this though so we've been keeping media quotes to a minimum and have gone the route of letting our lawyers do our talking for us.

 

But as is often the case here on OFC we all (me included) get to feeling like we're just sitting around gabbing over a few beers with our buddies so we open up a bit more. I guess it's just human nature to want to speak up for yourself at some point, particularly when it's just amongst friends.

 

What you said has been uttered in the media in much more insulting fashion by folks with a personal axe to grind. It seems to be human nature to spread the word about bad experiences but to stay mum on the good ones. In fact much of what you said is true but only about a certain shrinking element of our industry. For what it's worth we really are working hard at educating (that's coincidentally one of my jobs) all our members to raise the bar to a standard where the consumer public can put their trust in us. Hopefully the days of "caveat emptor" (buyer beware) are behind us and though I no longer know the latin for it I'd like to be able to say to the public that the days of "trust your agent" are here. As I've already said there are more than enough truly good realtors out there that all any of you should have to do is ask around amongst your friends for recommendations. Odds are they've already told you about the bad experiences but you'll have to ask for the good ones. And don't ever think that our industry is the only one with it's black sheep. Over my many years in the business I've encountered mortgage brokers, lawyers, accountants and contractors that I wouldn't want to have handle my business and I find ways to advise my own clients about them. But each industry is working at raising their respective bars so it's getting better.

 

Buying and selling real estate is a huge commitment financially and emotionally. There are an awful bunch of landmines involved in a real estate transaction and consumers really should avoid the risk of flying blind, ignoring the trained competent service providers available to work for you - lawyers, appraisers, mortgage brokers, Ontario Land Surveyors, home inspectors, various contractors, professional planners, etc - oh, and of course real estate salespersons.

 

As long as I've been a member of OFC I've always tried to give the best advice I have to anyone needing help with a real estate related problem anywhere in the province. I prefer to do it privately because there is occasionally personal information has to be discussed. Also we have pretty strict legal regulations about interfering in other realtors' transactions so sometimes I have to stay mum or beg off on helping but I do what I can. It's just that I hate to hear stories of folks getting hurt in botched real estate transactions. Those deals always somehow seem to taint the industry whether it was our fault or not. I don't expect to be paid for my advice given here. If it really works out well then a day out fishing on your boat is nice though.

 

JF

[pike slayer]

SO i called my lawyer first thing this morning and he called me back at around 11. He told me that he was typing out a letter to send to the owners lawyer to see if his lawyer will second that its a year round home to help try and convince the bank. I also told him the website to the listing to show that they said its a year round home. i didnt here back from him today and i hope to hear from him tomorrow morning. just giving an update.

[fish_fishburn]

Wormdangler, I hope everything works out for you. I am sure your Realtor is busting his butt to get this issue resolved for you. I hear people slagging realtors all the time as crooks etc. But most of the time they are just repeating something they heard from someone else. Most people in the general public have no idea what a Realtor has to do to get there license and retain it. It comes up for renewel every two years and if you haven't taken your update courses and other courses to achieve the amount of credits required you will not get renewed it doesn't matter how long you have been in the business.

 

I have one more exam to write before I embark on a new career in Real Estate and I can hardly wait. I just hope there are people like John in the brokerage where I decide to work. And I'm sure there will be.

[JohnF]

 

I have one more exam to write before I embark on a new career in Real Estate and I can hardly wait. I just hope there are people like John in the brokerage where I decide to work. And I'm sure there will be.

 

There are some very very good people running offices up your way. Good luck with the the new career.

 

JF

[fish_fishburn]

Thanks John. If your ever up this way let me know and we will get out for a bit of bassin.

[HTHM]

Thanks John. If your ever up this way let me know and we will get out for a bit of bassin.

Don't listen to his fishing advice, , but do listen to what the man has to say about your new line of work, he knows of what it is he speaks! And he's OK company as well!

[pike slayer]

here is another little update!!!

 

My lawyer called me this afternoon, and he told me that he spoke to the owners lawyer and the lawyer spoke to the owner and he also talked to the real estate lady that i was dealing with. The owners lawyer says the owners says they have been living in it full time for the past 4 years but never rezoned it. The real estate lady is saying that she had no idea i was buying it as a year round home and thought i was buying it as a cottage. I told my lawyer that she damn well knew i was buying it as a year round home and shes lying to cover her ass and besides it says "cottage or year round home" right on the listing so shes already caught up in her own lie. Then my lawyer tolds me well then we have a situation on our hands and i think you better come down to my office as soon as we can to figure this out. So tomorrow im heading to his office on my lunch break to see what the heck is up! URRGGHH this is annoying!!

[irishfield]

In the words of Kenny Rogers..

 

"learn when to fold'm.. learn when to hold'm.. learn when to walk away.. learn when to run".

 

Sound like you have the same agent that told my wife, 27 years ago, that the block wall in a crawl space in Milton was wet... "because the wife was a meticulous cleaner".

 

It's a hard decission fella.. that only you can make. How bad do you want to live there and are you ready to deal with the situation if it goes "south" on you?

[bigbuck]

Call the selling agent's broker (aka 'Boss') and explain the situation. If you are getting static from her, move on up the food chain and demand satisfaction!! Like JohnF said earlier, Real Estate Agents have professional standards and conduct that they have to maintain. Threaten those things and watch how fingers start snapping and things start happening.

[pike slayer]

Well i went into the lawyers office today. He basically just wanted to meet with me in person and show me exactly on paper as to whats going on and what our next actions will be.

We came up with keep going ahead to see if the bank will cooperate with us and give me the mortgage anyways and deal with all the headaches of rezoning and what not after.

If that fails then all we got left to do is fight over who takes blame for all this. he said if it ever does go to court that i have a very good chance of winning because the court doesnt like to see ppl get screwed around. so on with another day of this! holy i hear from him tomorrow as to what the bank says so i know what to perpare for. ohhh joy what an experience this has been attempting to buy my first home.

[danbouck]

I assume you didn't have a financing condition on your offer

[pike slayer]

good news!!

the lawyer called me today and he said the bank didnt have a problem with me and i got the house.

turns out that he didnt even call the bank and he just figured they would have given me a problem about it. and all they aksed was if there is snow removal there and he said yes and they didnt have a problem

so that jerk made me stress out about nothing really!!

I went today at lunch to sign the papers and give my 5% down.

I'm going tomorrow to sign the final papers and have the keys handed over to me.

 

thanks to all that helped me out on this!

a special thanks goes out to johnf!

 

the closing date is tomorrow but i wont be rushing out, gotta deal with phone and what not first.

i'll take pics of the house and pics of the area and post a new topics for everything to see in the near future.

once again thanks alot everyone!

[cheaptackle]

Good stuff, good news & a great ending!

Enjoy!

 

Michael

[danbouck]

Congrats!

[Nemo]

Congrats

[fish_fishburn]

Right on Wormdangler. I'm happy for you. Heres a little tip... On the day you take posession go and make sure all of your fixtues work, furnace a/c, oven stove elements etc,light switches and any thing that doesn't make note off and give to your agent. All these should be in working condition, on day of posession. Best of luck with your new home.

[pike slayer]

thanks everyone!!

i got the keys today

ya my lawyer was telling me that, he said make sure nothing has changed since the walk through.

i'm in no huge rush to be moving out there. im gonna start moving a few things out there tomorrow like my boat and snowmobile. then this week start moving the rest of the stuff after i get phone, tv,etc. hooked up

tonight the gf and i are gonna break the place in

[irishfield]

You move in today.. she moves in tomorrow.. that way you owned it before co-habilitation! Just a tip...

[Guest ThisPlaceSucks]

hey bud! when are you hosting an SSM OFC party at your place?

 

i'm passively house hunting right now in hopes of purchasing my first home in the next year.

[pike slayer]

hey dr. sal thats actually a pretty good idea!!

give me a couple weeks to get settled in and i'll have a OFC party out there for sure!

My brother is looking at buying a house and i've been helping him out a bit.

what ive noticed is you really have to jump on deals cause they go FAST.

alot of the nicer houses are gone even before the sign goes up in the yard.

find out what exactly you want and even get a real estate agent looking for you.

good luck and let me know what you come up with!

[fshrgy99]

Congratulations. Tons of stress but it all worked out. Keep all your records, a copy of the listing etc. and enjoy!