Manitoba

What is a deposit for?

A deposit is a show of good faith that you intend to purchase the home.

Do I have to give one?

I am to understand that by law you are not legally required to give one, however it is such a common practice in today's market that seller's may not understand why you don't have one.

Where does the money come from?

The money would have to come from you directly.

Is the deposit money on top of the sale price?

I get asked this all the time! The answer is NO way! If you bought a house that was $150 000, your deposit is $5000, the sale goes through and is finalized, you now owe $145 000.

Is the deposit the same as the downpayment?

Sort of... The deposit is PART of the downpayment. Certainly it can be all if you would like, but may not be possible. For example, if your price range is $100 000, and you have your 5% down which equals $5000. You may only want to put $1000 down as a deposit. The main reason for this is deposits are cashed within 24 hours of acceptance of an offer, so if you don't have the entire amount now then you don't have to worry about it right away.

How much should I have for a deposit?

This depends on a few things, how much you have to put down now, and maybe even how much the house is. Some sellers will want as high of a deposit as possible, some are less concerned with such things. The best advice is to ask me what I think is best at the time the offer is written. Normal amounts are between $1000 and $5000.

How do I know my money is protected?

The money is deposited into the listing broker's trust account. The money is safely kept there and is then forwarded to the lawyer upon completion of the sale.

Who is the cheque made out to?

Because it is held in the listing broker's trust account it is made out to the Listing Brokerage.

What happens if I write a cheque and don't get the house?

The cheque is voided, never cashed and mailed back to either the agent that submitted the offer or the client.

What happens if I write an offer, we get it, and my conditions fall through?

If the offer was accepted and the cheque cashed then the agent would send in a form requesting a return of funds based on conditions not satisfied. It can take up to 10-15 business days to have that money returned.

What happens if my cheque bounces?

Oh boy... try not to do that!! Hopefully the brokerage that cashes it is nice enough to call you and give you a chance to make sure that money is there.

Is a money order better?

It depends. It is for sure a way to prove that the cheque wont bounce!! It may not be convenient for you however as we may be meeting to write the offer after banking hours.

Salespeople of all types have had a long history of being perceived by the public as "cheesy". Hey, before you shoot the messanger... remember that perception is reality and we have all heard this! I blame it on tried and true techniques that worked at one point, but never changed with the times. All industries must change, grow and adapt otherwise they become obsolete. Sales will never become obsolete so therefore we have a bigger responsibility to the public to really grab hold of what it is they want, and do it that way.

There are however, those salespeople, like myself who are so far from cheesy we completely exist outside that realm. I would never have the guts to try to pull the cheese on someone and sell them something, I would be frankly just a little embarrassed of myself! *chuckle* As a salesperson I actually do not like it when someone tries to "sell" me something because I am always looking for the gimmick behind the sales pitch. So I truly do understand why people are wary of salespeople of all kinds. I hear you, and I get it:) Funny thing is this cheesy-ness seems to really work for some people, but since I know who I am as a buyer, wary at best, I know that the market calls for a niche of salespeople who can think outside the cheese wheel and treat our clients the way we want to be treated. (fat free!)

Recently I decided to bite the bullet and go car shopping. First of all, you should know I did not want to deal with purchasing a new car, the whole idea was scary and daunting, I was worried about being sucked in to some sale by a bone fide "cheesy" salesman and the whole thing was almost too much. I was not even that particular about what I wanted, keeping in mind I know houses, not cars! Since I believe that you should do what you do best and refer the rest, I had to put my faith and trust in a complete stranger. Scary! I voiced my concerns to a friend and fellow realtor who referred me to his car salesman and I have to say, my experience was more than positive! Real estate is clearly a people and sales driven and focused business. I exist inside that world every day and I always try to understand my client's perspective. Now I was on the other side of the conversation and it was a great reminder for me that cheesy has no place on a negotiations table. In fact, I loved it! I loved it because it proved to me that my theories of cutting the cheese out of real estate sales has clearly bled to other sales industries and that a new, refreshing way of doing sales has truly taken hold. The best part? That honesty, integrity, and fun were on the table when working with the car salesperson. A friendly straight shooter from the get go, he wasn't up to any tricks, and I appreciated that. He wasn't afraid to suggest a car I had never thought of, anticipating my needs before I even had to ask, it was a relief to know he knew what I wanted because I really didn't! For the record, I am getting the car he suggested!

Selling and living in a world where I have to be sold on something, cheese free, is an interesting, innovative and frankly refreshing concept that all salespeople should embrace if they haven't already

So fat free selling, cutting out the cheese, seems to be creeping in the back door, of car lots and real estate alike... a refreshing wind of change that will only leave the community at our fingertips able to trust us more, and hopefully leave them happier. Which is an exciting concept to those of us who care about what we do, aren't just in it for the sale, and get a sincere satisfaction out of making the right match... a realtor to her car; a family to their new home. Like I said, sales is really all about the people, and that is where our hearts really lie.

Remington Financial Group gains financing of $60.8 Million for a large scale student housing project One of the areas best contractors interested Remington Financial, Inc. To build a large scale student housing complex, financing must be secure.

With prime real estate located just at the edge of the campus, development began in earnest over 10 years ago. Known nationwide developers attempted but failed to develop the place, but Remington's client, a seasoned developer for 20 years made a plan from conceptualization to the formal beginning of the project in about 12 months. The result of the plan was a complex combining retail space, a movie theater and high quality modern student housing, and is which is the largest development in the region built with private financing. This project will be as good for the university as it will be for bringing this area back to life.

Remington Financial Group was in competition with the developer’s long term relationship bank. To be able to win the deal, Remington Financial had to offer financing options better than the ones offered by the developer himself. The construction business is worth nearly sixty-one million dollars and had a two year term. 80 percent of the project's stablized value was from loan proceeds; which was a very unexpected benefit to the developer because of RFG's financing package. The construction financing also contained a provision that allows for the loan to become fully non-recourse when a forward commitment that funds at construction completion is secured. Remington Financial Group is a leading banking investment firm which arranges and provides bridge, mezzanine, equity, construction and permanent financing to projects ranging from income producing real estate to residential lot development and condo conversionshaving headquarters in Philadelphia.

Advisory Services

Leverage Remington Financial Group's Expertise and Market Knowledge to Make Your Project a Success

Remington's expert Advisory Services help clients carefully evaluate and restructure transactions that may have existing financing challenges. Our team develops advanced strategies to create new and alternative financing opportunities that can help supplement or replace conventional lending sources.

By providing our clients with access to the latest and most competitive capital sources the market has to offer, RFG's borrowers gain the advantage of a comprehensive perspective from which to choose the widest range of financing products available.

Remington also offers quick access to capital sources that can meet the unique demands of specialty and challenging transactions. Companies that are currently restructuring or emerging from bankruptcy and are in need of recapitalization, or considering expansion through leveraged acquisition, will benefit significantly from our experience and insightful guidance through complex transactions.

Remington Financial Group

Remington Financial Group has built its success upon well-established relationships with highly regarded domestic and foreign based private and institutional capital sources. Our extensive lender network combined with market expertise and a highly disciplined due diligence and transaction process means our clients benefit from integrated, seamless financing with terms that are often superior to conventional approaches.

Throughout the due diligence and deal process, Remington works to provide customers with a clear picture of the status of their transaction and any fees. RFG proactively works to overcome obstacles before they become barriers to a successful close. Delivering exceptional service throughout the financing process, Remington offers a variety of creative financing options with highly competitive rates for:

Conventional financing | Hard-money loans | Bridge loans | Construction loans

Representing clients exclusively, Remington carefully manages the formation of all tiers of capital so they are structured and tailored to each unique transaction. This process saves clients time and money while significantly reducing transaction risk. Time and again, Remington has delivered refined capital solutions to complex transactions where other sources were unable to execute at all.

Remington can help revitalize existing deals that may be at risk with expert Advisory Services or assist with a comprehensive set of Financing Programs including origination, evaluation, transaction structuring, preparation and underwriting, negotiations and coordination of placement and closing processes.

Testimonials

Remington Financial Group in an unsettled market is consistent and stable. Their unprecedented Analysis, Service, Commitment and Communication are what sets them apart. When the recent market is doom and gloom all they want to know is "HOW CAN WE HELP". Whether it be an Investment Opportunity, International Development, or a Challenging Problem, Remington Financial Group stays committed to finding Creative Competitive Financial Solutions.

Thanks RFG for your great communication and constant commitment.
- R. Ramsey II

If issues arise with a transaction, RFG always puts forth great effort to recognize it, and immediately responds to our clients with solutions. RFG's servicing of commercial loans and requests during Due Diligence is the fastest I've ever seen. RFG uncovers the true merit of the deal and creates options for financing that traditional sources cannot.
- J. Medlock

When dealing with financial transactions, you need a company that has a proven track record, cares about their clients and understands the importance of each project. RFG not only possess these traits, they also provide many other attributes that make their organization one of the best in the business. I look forward to long and successful relationship with RFG.
- B. Owens

Because of its expertise with alternative financing, RFG is the only group that will look at certain projects - it doesn't shy away from challenging deals. I work with programs that no one else can work with and I can't do that without a company like RFG
- J. Couch

I was attracted to RFG because the company is fairly aggressive when it comes to making a deal, and it has a good history of recent closes. The people at RFG are responsive and return my email or phone messages immediately. The originators go out of out of their way to answer not only my questions, but questions directly from my clients. Remington's LOI and due diligence policies are spelled right out - there is no confusion. If the client can meet the requirements and has a good deal planned, securing funding through RFG should be no problem.
- C. Hanley

Joel Nathanson
Sr. Account Executive
Remington Financial Group, Inc
8761 E. Bell Road Suite - #103
Scottsdale, AZ 85260

www.remingtonfg.com
www.remingtonfinancialclosings.com www.remingtonfinancialjointventure.com
Office - 480-905-3840
Direct - 480-570-0679
Fax - 480-619-6289
Email - Jnathanson@remingtonfg.com

Has anyone else noticed all of the "designer frozen dessert" shops that have been popping up? First, it was Pinkberry. Now there are a number of Pinkberry coat-tail-riders, as well as gelato, ice cream, and "frozen custard" shops. Hey - I'm not complaining! It's just an observation.

But I can think of one ice cream landmark that has been around since my parents dated (they actually went there on a date). It is called the Bridge Drive In - a.k.a. BDI.

Here is what many readers of this blog posting will find odd. I am blogging about an ice cream stop that is thousands of miles from where I live.

What??

Well, let me explain that the Bridge Drive In is in Winnipeg, Manitoba, Canada (722 Jubilee Avenue), which is where I last lived in Canada before relocating to California. And the Bridge Drive In is so notable for many reasons that I am compelled to write about it - especially on these hot summer days when icy treats hit the spot.

The Bridge Drive In is hugely popular, drawing crowds on every single night during the summer, which are the only months in which it is open.

Of course, they have the standard ice cream treats that you would expect. But they also have some very interesting menu items, like the Cantaberry (a half cantaloupe with a sundae where the seeds were scooped out) and upside down milkshakes (a sundae in a cup, surrounded by a milkshake). The most infamous, and tasty, menu item is the Goog Special (see the image for the description).

But the creme de la creme (pun intended) of the ingredients at the Bridge Drive In is their hot fudge. It is the perfect combination of sweetness, thickness, and warm, chocolatey goodness.

Now, in this age of "calorie conscious" ice cream treats, the menu items at the Bridge Drive In "don't fit the bill". But if you are saving up for a little bit of indulging, you MUST make a stop at the Bridge Drive In if you EVER set foot in Winnipeg.

And get the Goog Special. You won't regret it.