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| Benefits Of Freddie Mac's HomeSteps Houses |
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Buy A Freddie Mac
Home: Great For
The Community
Plus Bargain Prices
Home: Great For
The Community
Plus Bargain Prices
Not many people know that you can buy a
Freddie Mac house. There are bargains
galore. Due to the unfortunate circumstances
of foreclosure, Freddie Mac ends up with
thousands of houses. These houses are
subsequently sold through HomeSteps,
which is the real estate sales and marketing
arm of Freddie Mac.
When you purchase a home from
HomeSteps, you can be assured that the
house has been maintained. This is
because when HomeSteps acquires a
home, it is secured. The doors and windows
are intact and the trash has been removed
from the interior and the exterior. In addition
to these services, HomeSteps employs a
staff of regional area managers who do
random house inspections. The managers
also provide the listing brokers with
feedback regarding security of the house
and the signage.
First Look.
When HomeSteps lists a property on the
market through the Multiple Listing Service
(MLS), the first 15 days are set aside
exclusively for owner-occupants and special
non-profit organizations that are engaged in
neighborhood stabilization programs. After
the 15 day window of opportunity has
expired, the properties are then made
available to real estate investors, people
looking for a vacation home or homeowners
seeking a second home.
Primary residence.
When a homebuyer purchases a house
during the 15 days "first look" period, the
buyer and his real estate agent must sign an
affidavit stating that the buyer will occupy the
house as his primary residence.
If you do not succeed at the first chance of
landing a HomeSteps deal, keep trying. Be
sure to work with an agent that is familiar
with Freddie Mac.
Freddie Mac house. There are bargains
galore. Due to the unfortunate circumstances
of foreclosure, Freddie Mac ends up with
thousands of houses. These houses are
subsequently sold through HomeSteps,
which is the real estate sales and marketing
arm of Freddie Mac.
When you purchase a home from
HomeSteps, you can be assured that the
house has been maintained. This is
because when HomeSteps acquires a
home, it is secured. The doors and windows
are intact and the trash has been removed
from the interior and the exterior. In addition
to these services, HomeSteps employs a
staff of regional area managers who do
random house inspections. The managers
also provide the listing brokers with
feedback regarding security of the house
and the signage.
First Look.
When HomeSteps lists a property on the
market through the Multiple Listing Service
(MLS), the first 15 days are set aside
exclusively for owner-occupants and special
non-profit organizations that are engaged in
neighborhood stabilization programs. After
the 15 day window of opportunity has
expired, the properties are then made
available to real estate investors, people
looking for a vacation home or homeowners
seeking a second home.
Primary residence.
When a homebuyer purchases a house
during the 15 days "first look" period, the
buyer and his real estate agent must sign an
affidavit stating that the buyer will occupy the
house as his primary residence.
If you do not succeed at the first chance of
landing a HomeSteps deal, keep trying. Be
sure to work with an agent that is familiar
with Freddie Mac.
How To Make An
Offer On A Freddie
Mac (HomeSteps)
House
Offer On A Freddie
Mac (HomeSteps)
House
When making an offer to purchase a
Freddie Mac (HomeSteps) house, you need
to make your offer stand out in the crowd.
Remember, everyone is looking for bargain
real estate and there will be 30 or more
offers for the seller to evaluate. The easier
you make the decision making process the
better your chances of landing a deal. The
following are a few pointers to help you
close your purchase.
Include a cover letter with offer.
It helps to highlight the main points of your
offer. For example, if you have a large
deposit or if you can close in a short period
or if you are paying cash for the house. Also
make a note of all your contact information
such as email address and cell phone.
How to ask for 3% closing costs.
Try and be reasonable when asking for
closing costs. Do the calculation and use
the dollar amount in the offer. The banker
has about 50 offers on his desk so if you
make life a bit easier you would score some
points in your favor. If it seems that you are
trying to take advantage of Freddie Mac
your offer will be denied. If your offer is for
$300,000 you would ask for "help with
closing costs not to exceed $9,000".
Go with your highest and best offer.
Submit your highest and best offer in the
beginning. Because there are several
offers, the chances of getting a "counter
offer" are very slim. It is always a good idea
to write this on the top of page one of the
offer.
Neat and legible.
Make sure that all your documents are neat
and legible. If you are making hand written
notes, please print clearly. The last thing a
banker wants to do is try and decipher your
handwriting.
Fast inspection.
Try your best and get the house inspection
completed within 7 days. Put this fact in your
offer. This says to the seller that you are a
serious buyer.
Good luck and enjoy your new home.
Freddie Mac (HomeSteps) house, you need
to make your offer stand out in the crowd.
Remember, everyone is looking for bargain
real estate and there will be 30 or more
offers for the seller to evaluate. The easier
you make the decision making process the
better your chances of landing a deal. The
following are a few pointers to help you
close your purchase.
Include a cover letter with offer.
It helps to highlight the main points of your
offer. For example, if you have a large
deposit or if you can close in a short period
or if you are paying cash for the house. Also
make a note of all your contact information
such as email address and cell phone.
How to ask for 3% closing costs.
Try and be reasonable when asking for
closing costs. Do the calculation and use
the dollar amount in the offer. The banker
has about 50 offers on his desk so if you
make life a bit easier you would score some
points in your favor. If it seems that you are
trying to take advantage of Freddie Mac
your offer will be denied. If your offer is for
$300,000 you would ask for "help with
closing costs not to exceed $9,000".
Go with your highest and best offer.
Submit your highest and best offer in the
beginning. Because there are several
offers, the chances of getting a "counter
offer" are very slim. It is always a good idea
to write this on the top of page one of the
offer.
Neat and legible.
Make sure that all your documents are neat
and legible. If you are making hand written
notes, please print clearly. The last thing a
banker wants to do is try and decipher your
handwriting.
Fast inspection.
Try your best and get the house inspection
completed within 7 days. Put this fact in your
offer. This says to the seller that you are a
serious buyer.
Good luck and enjoy your new home.
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