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Last Updated: May 14th, 2012 - 22:24:01 |
BUY FROM FANNIE MAE?
Fannie Mae buys mortgages from lenders. That keeps the
home loan market liqued.
Some of those mortgages go into default and the homes are
taken through foreclosure.
Fannie Mae owned homes are sold through local real estate
brokers. All Fannie Mae owned homes are listed in the
local Multiple Listing System (MLS) accessible by any
real estate broker.
You check out some Fannie Mae-owned homes that look
interesting, and find one that you'd like to make an
offer on.
First, you present your offer to the listing broker
who will present it to Fannie Mae for consideration.
Fannie Mae will do one of three things in response
to your offer:
1. Through the listing broker, Fannie Mae may accept
your offer,
2. Reject your offer,
3. Or make a "counter offer."
The counter offer begins the process of negotiating for
final purchase price.
When the price is agreed upon, you a "purchase and
sales agreement" and begin the process of obtaining
mortgage financing to purchase the home.
To begin a search for a home you can call the agent of
your choice for more information and to find out what
properties are available in your area.
It's not well known, but you can search through a list
of Fannie Mae-owned properties for sale from
the Web page....
About The Author - Mark Walters has written
"The Last Great Real Estate Secret".
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