More than 1,500 lively REALTORS® attended our sold-out “Fannie Mae Live” events during the month of May. With six separate sessions in four cities, representatives from Fannie Mae spoke about the current state of REOs in the marketplace, shared some tips on working with REOs and gave insight on how REALTORS® can guide distressed homeowners in the sale of their homes. The REALTORS® in attendance were able to get their questions answered, directly from the source.
Fannie Mae representatives also spoke about their First Look program. Under the program, Fannie Mae would only consider offers from owner occupants, public entities, non-profits and similar parties using public funds during the first 15 days an eligible property is listed on HomePath.com. After 15 days, Fannie Mae would begin considering offers from real estate investors.
The speakers from Fannie Mae also promoted their 3.5% closing cost incentive. For the purchase of a Fannie Mae home, qualified buyers can receive a 3.5% incentive that can be used for closing costs or applied to new Whirlpool appliances purchased by Fannie Mae. If desired, a buyer can use the assistance towards a mix of closing costs and appliances up to 3.5% of the final sales price.
For more information about the Fannie Mae’s REO programs, please visit www.HomePath.com.