Fannie Mea offers 3.5% of purchase price of its bank owned (foreclosed) homes, condos, high rise condos to buyers
Fannie Mae is offering 3.5% of the purchase price as incentive for foreclosed (REO) properties that it sells through a special program called HomePath. Las Vegas foreclosure home, condos and high rise condominiums buyers will get 3.5% of the purchase price to use toward closing costs, buying home warranty, appliances, repair costs, interest rate buy down, etc.
Imagine Las Vegas high rise condos and financing!!! Fannie Mea finances its foreclosures and high rise condo are not an exception due to the fact that Fannie Mae doesn’t require an appraisal for its bank owned luxury high rise condos.
This Fannie Mae HomePath incentive cover owner occupied buyers only and excludes Las Vegas real estate investors, even vacation home or second home buyers.
In order to qualify for this incentive, buyers have 60 days from the acceptance of the offer to close the deal; time frame for this incentive is from September 23rd 2010 to December 31st.
I heart Fannie Mea because what they do is really effective and their foreclosures bring the highest price for any bank owned in Las Vegas and this helps our real estate market.