Thinking about buying an “REO” property? This is a home that has been foreclosed on, is vacant and now the lender owns it. But Fannie Mae (or any lender) does NOT want to own property! They are in the business of managing money, not managing real estate!
So they are offering some incentives to get rid of their inventory of homes they now unfortunately own.
From today’s Realty Times –
More Incentives To Buy Home: Fannie Mae Offers Money for Closing Costs and Appliances
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Fannie Mae wants to sell its housing inventory that it acquired through foreclosures. The properties are listed for sale on HomePath.com. To do so, it’s offering buyers incentives for those properties
And as a reminder, I am a real estate agent. If you know someone looking for a good deal on a house, even maybe they check out this Homepath list of homes, have them drop me a line!