First time buying a house...need advice from home owners...?

Did you sign a document stating that you would employ this real estate agent for a certain length of time.

If you did the agent might demand that the time expire on the contact before she quits.

If you just want to get out of the contract simply write letter to her broker and send her a copy indicating that you are not pleased with the real estate agent and no longer desire her services nor the services of the real estate broker service, and to please return my $1000.00 deposit.

The $1000.00 was for a deposit on a propeprty and not for her personal use, so she should return this without fail.

Make sure you put this in writing and not verbally. You might need proof that you displeasure was of a certain date.

She still might be in a position to collect a commission from you if you purchase a house she has shown you or introduced you to an agent that might sell you a house down the road.

So you want to make sure that you use none of her properties she introduced you to nor any agent she introduced you too.

You may look for a property on your own, why do you want a real estate agent to show you houses that are available on the Internet and other places.

Find an area that you want to reside, check the cost of houses in this area and see if you can afford this neighborhood, if not then you will have to lower your expectations.

Attend open houses in the neighborhood you want to reside in after you have decided that you can afford to reside there. Your pre-approval should tell you how much house you can afford.

When making an offer don't feel bad about making an offer less than the asking price.

If you still want to use a real estate agent check with your mortgage broker that pre-approved you and see if he can give you a referral for a real estate agent. That is unless he recommended your current agent.

Check with other professionals you know to include family and friends to see if they can recommend a good agent they have used in the past.

Friends are not good people to use, even if they are in the real estate field.

I hope this has been of some use to you, good luck.

"FIGHT ON"

1.)The escrow money goes for the house that you made the offer on...not to your agent...but you probably signed a buyers-agent agreement which limits your ability to use another agent...typically the agreement states you will use that agent for a specific period of time and if you use someone else other than her/him, you still have to pay them anyway...

2.) I am buying my first house and had these same questions and was fortunate enough to have people around me to explain it...The escrow money will go towards your down payment if they accept your offer...if they do not accept your offer, then you get the money back...

3.) I didn't care for my agent either but when I read the fine print I realized I was stuck in the agreement for a while...Also, if you are making multiple offers, make sure you are adding "Time" contingencies to the offer...in other words, tell them they have 48 hours to accept, reject or counteroffer your original offer so you don't end up making multiple offers at the same time...it will also be more stress free b/c you won't be waiting around indefinitely to get an answer...

When you get back home to Australia & get yourself a job then is the time to start thinking about renting/buying property. You are very young to be thinking about settling down & tying yourself to one house. Most young people rent for a few years until they marry/settle down with a partner & then consider buying a property. Unless you can get a 100% mortgage from the bank then yes you will have to have saved up for a substantial deposit. You would need to be on a very good wage to afford to save say $50,000 & get a $250,000 mortgage on your own.

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