Page 33 - Kiva Kinney Realtor Relocation Booklet Albuquerque, New Mexico

Frequently Asked

Questions

Q: How long does the home buying process take?
A: The buyer and seller agree to a move-in/closing date on the
contract. There are many factors involved in the time a home can
close. Are you paying with cash? Great! If the house is unoccupied
this can speed up the process. Many times lenders need at MINIMUM
3-4 weeks to process the loan. Inspections, re-inspections, appraisals
and mortgage processing are what take time. The average time in
our market to close on a home is 4-5 weeks. If you are needing to be
in a home by October 1st the contract needs to be finalized no later
than August 15. Consider this when looking for homes.

Q: When will I get the keys?
A: You will not get the keys in your hand until the FUNDING has gone
through. In some cases it may be the same day but don't count on it.
Many times the funding takes 24-48 hours to process.

Q: How many properties should I look at?

A: As a professional I can tell you to pick out your TOP 5 and you will
most likely choose one of those. I have never encountered a buyer
who bought a home NOT on their top 5. Looking at 20 different
homes will do you no good and will be exhausting.

Q: When should I make an offer?
A: Immediately. When you find the home you want consider this: If
you sleep on it, someone else will be soon sleeping in it.