Real Estate

DO NOT choose this agent

  • Last Updated:
  • Sep 24th, 2019 9:57 pm
[OP]
Newbie
Sep 17, 2019
1 posts
2 upvotes

DO NOT choose this agent

Hi All,
Just to let you and inform all the members in this site not to use Martin Théberge from martinmortgages.ca I had a very bad experience with this guy. I paid overall 10 thousand dollars just for the fees and even the lenders lawyer fee they included that into my loan. Why would I pay their own lawyer? Any comments or suggestions?


To all Admins if this is not allowed please delete and accept my apology just wanted to give our fellow member a heads up.

Thanks and more power to this site :)
14 replies
Newbie
Aug 15, 2018
39 posts
38 upvotes
Why would you agree to pay a mortgage broker anything, they get paid by the banks.
Deal Addict
Jan 15, 2017
2532 posts
1852 upvotes
Ofirsc wrote:
Sep 18th, 2019 10:54 am
Why would you agree to pay a mortgage broker anything, they get paid by the banks.
They don't get paid by the lenders in all cases. They do get paid for A deals, but challenging deals the client pays.
Deal Addict
Jan 15, 2017
2532 posts
1852 upvotes
OP, you would have been informed about these fees prior to signing the paperwork. Why did you agree to sign and then later complain about paying it? Was this a private mortgage?
Deal Addict
Jan 1, 2013
1124 posts
479 upvotes
Durham
Def a private deal. OP probably was in a lot of debt and needs to vent his frustrations about the broker, even though this is how all private deals work. He closed the deal regardless so obviously he had no other choice.
Deal Fanatic
Feb 9, 2009
7817 posts
4795 upvotes
Tell us the story op before I disregard it as another internet whiner...
Deal Addict
User avatar
Dec 16, 2015
1589 posts
1061 upvotes
Canada
Good job, now Martin knows who you are and can sue you for defamation and you have to pay their lawyer as wellFace With Tears Of Joy
Member
Nov 5, 2018
351 posts
363 upvotes
Scarborough
No one cares.
Money, Common Stocks, Credit Cards, Coupons, Condos (MCCCC)
Deal Addict
Dec 6, 2006
2183 posts
563 upvotes
dabu1975 wrote:
Sep 18th, 2019 8:05 am
Hi All,
Just to let you and inform all the members in this site not to use Martin Théberge from martinmortgages.ca I had a very bad experience with this guy. I paid overall 10 thousand dollars just for the fees and even the lenders lawyer fee they included that into my loan. Why would I pay their own lawyer? Any comments or suggestions?


To all Admins if this is not allowed please delete and accept my apology just wanted to give our fellow member a heads up.

Thanks and more power to this site :)
We are not getting the whole storey here. Sounds like a private lender deal for someone with credit issues.
Jr. Member
Dec 29, 2017
182 posts
130 upvotes
Read the contract... read the contract... even though they are lengthy.

Personally, I would not talk smack online without SOLID PROVEN evidence. Either way, it is an issue between both of you.
Deal Expert
User avatar
Apr 21, 2004
50540 posts
15314 upvotes
Maybe Martin returned the $10k in fees as the OP is probably content and forgot to post an update.
Deal Addict
Jul 3, 2007
1694 posts
1755 upvotes
Toronto
dabu1975 wrote:
Sep 18th, 2019 8:05 am
Hi All,
Just to let you and inform all the members in this site not to use Martin Théberge from martinmortgages.ca I had a very bad experience with this guy. I paid overall 10 thousand dollars just for the fees and even the lenders lawyer fee they included that into my loan. Why would I pay their own lawyer? Any comments or suggestions?


To all Admins if this is not allowed please delete and accept my apology just wanted to give our fellow member a heads up.

Thanks and more power to this site :)

paying the lenders legal fees is normal with private loans, which it sound like what you got....as for the $10k fee, how much was the total loan amount?

10k is not a lot if its a big loan....
Member
May 18, 2015
484 posts
676 upvotes
Thornhill, ON
Redsanta wrote:
Sep 18th, 2019 3:32 pm
Good job, now Martin knows who you are and can sue you for defamation and you have to pay their lawyer as wellFace With Tears Of Joy
Not if what OP claims is true.
Deal Expert
User avatar
Oct 26, 2003
31072 posts
2674 upvotes
Winnipeg
Kkhan15 wrote:
Sep 18th, 2019 2:00 pm
Def a private deal. OP probably was in a lot of debt and needs to vent his frustrations about the broker, even though this is how all private deals work. He closed the deal regardless so obviously he had no other choice.
bad credit yet still want a mortgage?
Member
Jan 6, 2012
257 posts
77 upvotes
Even B-rate lenders will require that you, the buyer, pay the lender's lawyer in the final transaction of closing the home...i had a situation like that once, but because the lawyer i was using to close the sale, her firm was well-established and known to the bank lender, they allowed me to let her do the final checks that their lawyer is supposed to do, so i didn't end up having to pay the lender's lawyer. I"m sure i paid my lawyer a little bit more, but nothing it would have cost me if i had to pay 2 lawyers. regarding the additional fees, if you have to close a home using a b-lender, or even part b-lender/bank and part private you will have to pay a lot more 'fees' and more to the broker directly as well. One home i closed on my broker only charged me $1500...but many brokers charge you 1-1.5% of the cost of the home, which could be closer to $3-5k.

It is not unusual to pay those kind of fees when you are not going with a straight-forward bank loan.

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