Buying or Selling a Home/First time home buyer

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Expert: John Hendricks - 9/16/2008


Question
Hello, I just found the place I would love to live. It's in a quiet mobile home park over looking a serene pond with bunnies and geese all around. I would love to put an offer down but I don't know where to start. Do I get a loan first, do I find my own realator to negotiate for me. I also have been pre approved for a VA home loan but its not enough. How do I combine loans? What should I do first ot get the ball rolling?
Thank you for your time.

Answer
Dear Tiffany;

Thank you for your question...

Congratulations on finding a home to buy... That is great!... The first thing that I would recommend is locate the best real estate agent available for your area. It doesn’t cost you anything to select a Realtor to represent you, so why not get the best. Their knowledge and negotiation skills will save you time and money. If you need some help in selecting the right Realtor, please don't hesitate to call me or email me. I know many Realtor’s throughout the country and if one is not be in your immediate area, the nearest one to you will help me locate a the right Realtor for you. There is no cost to you for this service, just contact me at 415-259-4518 or email me at JohnHendricks@Marin1.com It really will be a benefit to you in your search for a home.

Unfortunately, I don't think VA will qualify a mobile home for a VA loan. There are certain banks that specialize in mobile home loans and you would have to contact one of them for a quote on terms and conditions. If the mobile home is older than 20 years, (confirm the years requirement) you probably would not be able to get a loan, it would have to be a cash purchase.

The Realtor would help you contact the best VA mortgage broker who will help you through the process of securing your loan and answer all your questions, especially mobile home purchases. If I am correct and the VA will not allow for a mobile home loan, your next option is to have the mortgage broker tell you what price range you are qualified to buy a home or condominium. There are certain hoops that need to be jumped through during the process of a VA loan, but under the circumstances with the glut of available homes on the market, sellers would probably agree to required seller costs, and agree to the time plus the VA requirements that are mandatory. Your Realtor and mortgage broker should explain to you what those hoops are.

Another loan you may qualify for is FHA 1st time home buyer loan which includes an available tax credit not offered in a VA loan. The mortgage broker should explain the pro's and con's of both loans for you so you can make an informed decision on what program would be best suited for you.

Please give me a call or email me if you would like any further assistance in locating the right Realtor for you. It is great that you are considering buying a home right now. Many feel that the market is at its lowest point right now, and now is the time to buy... Good Luck! Hope to hear from you soon...

Warmest Regards;
John Hendricks

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John Hendricks

Expertise

As a California Realtor for 23 years practicing in Marin and Sonoma Counties, it is now time to provide counsel through AllExperts.com to those who need advise in real estate. My knowledge and experience includes a wide range of resale residential real estate purchases, new home sales, income related investment properties involved in 1031 exchanges, and land. Let me help you in any of these areas...

Experience

John Hendricks has established himself as one of Marin & Sonoma Counties premier Realtors. A native Californian, John is a well-known and respected Realtor in both Marin & Sonoma Counties who has resided in the Northbay since 1976. John began his real estate career in 1986, and since then has distinguished himself as one or Northern California's top producing Realtors. Before joining Frank Howard Allen Realtors, John was an associate of the Prudential California Realty from 1990-1992 where his outstanding sales achievements earned him one of the company's highest honors, the prestigious "President's Circle Membership", presented to the top 2% of associates for sales and earning excellence. Since his association with the highly regarded Frank Howard Allen Realtors in 1992, John has once again established himself as one of his company's Top 10 Producing Realtors in Marin & Sonoma Counties for the years 1993 through 2007 and now in 2008. Five continuous years of outstanding performance has now allowed John to join 15 other Realtors in the prestigious "Lifetime Hall of Fame" for Frank Howard Allen Realtors. John established a group of professional individuals who specialize in a variety of areas in real estate called, 'Lundmark-Hendricks Fine Homes' This group of professionals are dedicated to the success of representing clients with the greatest amount of care and service when either buying or selling real estate.

Organizations
California Association of Realtors National Association of Realtors

Education/Credentials
Upon Request...

Awards and Honors
Frank Howard Allen Realtors "Hall of Fame Member" Chairman's Circle for 10 consecutive years

Past/Present Clients
Joe Louis & Sharon Sigurdson We want to thank you again for your excellent representation of interests during the recent purchase of our home in Petaluma as well as the sell of our home in Mill Valley. We had the unusual pleasure of working with you during the last year both as sellers and buyers. We felt that our interests were always paramount and that we received a very fair price for the sale of the Mill Valley house as well as our purchase of our new home. This speaks particularly well of you, because of the recent unstable and chaotic real estate market. Will Finke "Quite frankly, we came out of a very difficult situation, which time does not allow elaborating on. This was one of the greatest experiences of our lives as clients. John Hendricks is one of the top businessmen I have ever met." Bruce & Nancy Rosentreter "I chose John Hendricks to sell my house. I picked him because I thought he was professional, aggressive, and that he could get top dollar for my house. He fulfilled my expectations completely." Joy Schuelke "Since we were trying to sell a high end home in a very tough market, and in the middle of a very rainy winter, the prospects seemed quite bleak. I was convinced at the time, and am even more so now, that without John's tenure, patience, and tenacity, we would have not been able to move the property." Lynn McCarthy "I cannot stress strongly enough how impressed I was with the service provided to me by John and his group. Throughout the entire transaction, John was always available, always forthcoming with excellent advice based on his years of experience, and always willing to put in the extra effort to make this a positive experience for me. I feel lucky to have had the experience of working with him." Lea Lieurance-Turk "Thank you John for your outstanding real estate services for the past 5 years I have known you. You have made my dreams come true as far as selling and buying property."
http://www.LundmarkHendricksFineHomes.com

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