Buying Fannie Mae Foreclosure Tips -

: Fannie Mae will not make repairs or renovations based on your request. Budget for hidden costs like roof repairs, HVAC issues, or outdated electrical systems that may only be revealed through a professional inspection.

: In competitive situations, Fannie Mae may ask for a "highest and best" offer by a set deadline. Your offer should account for repairs while remaining competitive with local market values. buying fannie mae foreclosure tips

: If you are a first-time buyer (meaning you haven't owned a home in three years), completing Fannie Mae's online HomeView education course can qualify you for up to 3% of the purchase price back in closing cost assistance. You must finish this course before submitting your offer. : Fannie Mae will not make repairs or

: All authentic Fannie Mae foreclosures are listed on HomePath.com. You can filter by price, location, and property type (single-family, condo, or townhome). Your offer should account for repairs while remaining

Compare loan requirements for foreclosures?

: Although properties are sold as-is, you still have the right to an inspection after an offer is accepted. Use the findings to determine if the renovation costs still make the home a good investment.