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Buying Questions & Answers

 

Selling Questions & Answers


Buying Questions & Answers

1. Are your services free to me as a buyer?
There is absolutely no cost to you because, the Seller pays our commission.  This makes having the assistance of an experienced local REALTOR, priceless.  You receive skillful and educated representation without the expense, but with all the benefits.

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2. How do I find out if I qualify to buy a home?
In order to determine if you qualify to buy a home, we'll need to connect you with a local lender to assist with the qualification process.  The overall process is relatively quick and easy.  This will inform us which programs you may qualify for and your comfortable price range.

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3. Can I buy a home if I don't have perfect credit?
Perfect credit isn't required.  There are programs available where you can still purchase a home with a credit score as low as 580.  If your credit is below 580, we can assist you with direction on how to increase your score.  The important thing is to ultimately just take the first step of going through the prequalification phase.  You can also have a co-signer, then refinance under your own name when your credit improves.

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4. What if I have no credit?
Having no traditional credit does not eliminate you from buying a home.  There are lenders available who may be able to qualify you using alternative forms of credit.  You can also have a co-signer, then refinance under your own name once you have established sufficient credit.

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5. How much do I need for a down payment on a home?
The minimum down payment is 3.5%.  However, first time buyers can get purchase a home with no money down.  The MFA offers a program that provides you 3.5% down payment assistance.

In some cases, there are promotions where a buyer can get into a home with as little as 3%.  

Conventional loans require a minimum of 5% and investor purchases can require as much as 25% down.

We can determine your down payment options we communicate with you and your present circumstances.

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6. What first time buyer programs are available?
One of the most popular first time buyer programs is the New Mexico Mortgage Finance Authority (MFA).  MFA is a public entity that provides mortgage financing to low-income to moderate-income New Mexico residents.  MFA has partnered with mortgage lenders, local Realtors, non-profit organizations, local governments and developers throughout the State to make its programs available to local residents.

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7. How much are closing costs?
Buyer closing costs can come to approximately 3% of the purchase price.  First time buyers can utilize the MFA program for not only down payment assistance, but for closing cost assistance as well.  We can also ask the Seller on your behalf, to pay 3%+ towards your closing costs.

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8. Can you help me buy a home listed with another broker?
Yes we can.  We are not limited to only assisting you with our brokerage's listings.  We can assist you with ANY property on the market, even if it is listed with one of our competitors.  This includes new construction homes.  Be sure to contact us prior to visiting a home builder's community so we can properly represent you on your first visit.

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9. Do I need an agent if I'm interested in new construction?
It is recommended that you work with a real estate agent on te purchase of any property, even if you're buying a home from a friend or relative.  Someone with real estate knowledge and experience needs to look after you and your best interests.  Remember, the Seller pays our commission, including home builders.  Our assistance to you is free.

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10. How can I get answers to buying questions not listed here?
We understand you may seek more answers to questions that are not listed here.  Please call, text or e-mail us with any questions that you may have.

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Selling Questions & Answers

1. Can you do a free valuation on my property?
Yes we can!  For a free valuation of your property, click here.  We'll use the information you provide about your property and analyze it side-by-side with comparable sales in the area.  There is no charge or obligation.

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2. What can I do to increase the value of my property?
Increasing your property's value in today's market will be a challenge and will depend on numerous factors.  Some improvements may be appealing, but will yield little to no increase in value.  The greatest determining factor in value for your home, is ultimately the market value for the area.

For example, if homes in your area are selling between $180,000 to $190,000 and you remodel your kitchen costing $25,000, you shouldn't expect to receive an offer of $215,000 to $230,000.

Since there are endless variables regarding value, please contact us with your specific situation and we'll be happy to assist you.

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3. What if I owe more than what my property is worth?
Depending on the amount, you can bring the difference to the closing table.  If you are unable to bring the difference to the table, you may need to wait until value you increases in your area so that you can at least break even.  One other option could be a short sale.

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4. How long can I expect my property to be on the market?
Your property can go under contract within 24 hours or could sit on the market for over a year.  Today's market is extremely challenging.  Time on the market can depend on the property's location, condition, cleanliness, price range, showing availability, incentives, consumer demand, etc.  We can work with you and offer suggestions to help give you the best advantage on the market for a quick sale.

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5. How soon can you list my property?
In most cases, we can have your property listed immediately.  Once we've visited the property, completed a listing agreement, taken photos and video, we can move quickly on putting your property on the active market.

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6. What should I do to prepare my property?
First, clean the property inside and out.  From the curb of the property to the fence of the backyard and from the front door to the back, your property needs to sparkle.  You need to maintain this cleanliness from day one until you close, even if it's six months.

Next, declutter and depersonalize your property.  When we live in our homes, we tend to have something in every corner and on every inch of the wall.  With someone else is going to consider your property as their own, they need to see it without your personal touch.  Since you plan to move, get started with packing away much of the extra items.  Now, don't shove everything in the closet and storage areas.  These areas are also taken into a buyer's consideration.  The last thing you want is your property to appear that it has little storage or closet space.

Finally, your property should be adequately staged.  A staged property can sell faster than a cluttered or vacant one.  We can assist you in the proper staging of your property to help make it appealing.

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7. Will my property be listed in the MLS?
Yes, your property will appear in the local MLS with complete property details, photos and if applicable, a video.

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8. Will you market my property on the Internet?
Yes we will.  This is Syan Real Estate's specialty.  We can provide more exposure on the Internet than any other brokerage, guaranteed!  

First, we, like any brokerage, check a box when entering the property in the MLS that automatically markets your property's listing on countless of web sites such as, Realtor.com, Yahoo, Trulia, Zillow and all of our competitors web sites.  This is made possible with IDX technology.

Next, we are social media experts.  We have revolutionized the local Albuquerque Craigslist forum.  Our ad styles and ideas have been emulated by competing agents and brokerages.  We can further generate exposure your property on Facebook, Twitter, YouTube and other social media outlets.

Finally, we have created a partnership as the exclusive real estate brokerage for local online community web sites.

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9. How is Syan Real Estate better than other brokerages?
Unlike many brokerages, Syan Real Estate is a modern real estate brokerage.  We bring technological experience and sophistication to an industry where many are using the same methods that were used in the 20th century.  We have a significant edge over our competition.

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10. How can I get answers to selling questions not listed here?
We understand you may seek more answers to questions that are not listed here.  Please call, text or e-mail us with any questions that you may have.

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Syan Real Estate is the exclusive brokerage for the following local online communities:
Ventana Ranch
Albuquerque
Rio Rancho
Belen
Rio Rancho Land
Los Ranchos de Albuquerque
Bernalillo
Placitas
Cabezon Homes
Jemez Springs
Mesa del Sol
Los Lunas
Rio Rancho Homes
Mariposa Rio Rancho
Loma Colorado
East Mountains
Corrales
Pajarito
Santa Rosa
Espanola
 

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