BUYING A HOME FAQs
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What should happen first when buying a home?Most home buyers must qualify for a mortgage loan. First, check your credit score. Lenders look at your credit history to determine if you qualify for certain kinds of mortgages. Higher scores typically mean more financial institutions will be willing to lend the amount needed to you, and with better terms. Mallory Pendell can help you prequalify by shopping different mortgage lenders before beginning your home search. This information allows Mallory Pendell to start looking for homes priced within your loan range.
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How long will it take to buy my home?Buyers usually take about 4-5 months to choose a home and make an offer. When an offer is accepted, the buying process itself usually takes about 5-6 weeks. Several factors can affect the buying process, including the property location and buyer demand. Before closing, buyers need to order a home inspection, get an appraisal, and conduct a title search. Mallory Pendell will help you with all of these and negotiate with sellers on your behalf.
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Are real estate prices negotiable?Yes. Mallory Pendell understands today’s real estate market and will factor in everything, including the seller’s motivations, to get you the best outcome. With up-to-the-minute knowledge of the local market and buyer demand, Mallory Pendell will help you and the seller negotiate a fair price.
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When is the best time to buy a home?It depends whether you’re searching for the lowest prices or the greatest variety of options. Typically, April is the most popular month for new listings, and November is the best time to find a good deal.
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How much does the buyer pay in closing costs?Closing costs are usually between 3–5% of the sale price.
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How does my Mallory Pendell real estate agent get paid when I buy a house?The commission is included in the sale price of the home, which is automatically paid at closing.
MALLORY PENDELL GETS IT DONE
Have confidence in Mallory Pendell to find exactly the right home or investment property for you in or around Albuquerque.
The REALTORS® of Mallory Pendell will meet with you in person to learn about your property needs and desires, whether a home, land, investment, or commercial venture. With this key information, Mallory Pendell immediately begins a targeted search to find what you're looking for.
Mallory Pendell is committed to excellent communication, which means you'll be kept informed every step of the way. We are available to answer your questions at any time.
Mallory Pendell has exemplary partners in mortgage lending and title services. This unique combination of experienced professionals streamlines the financial process, saving you time and money.
