MiamiRealEstateKing

3.5% Assistance for Fannie Mae-owned Property Buyers

In bank-owned properties, Buyers, closing, Distressed Sales, fannie mae, florida, foreclosure, government, Home Buyer, home sellers, Home Warranty, HomePath, Industry trends, insurance, miami, miami beach, new rules, real estate, REO, Sellers on September 24, 2010 at 6:28 pm

Fannie Mae offers new closing incentive

WASHINGTON – Sept. 24, 2010 – Fannie Mae today announced a new seller-assistance incentive for Fannie Mae-owned properties that are listed on the company’s REO website, http://www.homepath.com/ – and it offers an incentive to real estate agents and brokers.

Agents representing owner-occupants will receive a $1,500 bonus, while homebuyers who will live in the house can receive up to 3.5 percent of the final sales price that can be used toward closing costs, including a home warranty.

Eligible offers must be submitted on or after Sept. 23, 2010, and must close by Dec. 31, 2010. The sale must also close within 60 days of offer acceptance.

“More than 87,000 families purchased HomePath properties in the first half of 2010 – nearly double the number of Fannie Mae foreclosed properties sold in the first half of 2009,” says Terry Edwards, executive vice president of Fannie Mae’s Credit Portfolio Management. “We continue to look for ways to stabilize neighborhoods and offer incentives to qualified buyers.”

Reprinted by Permission: © 2010 Florida Realtors®

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