How Do You Buy a Fannie Mae Foreclosure?
If you are interested in purchasing a Fannie Mae foreclosure property, you first need to obtain pre-approval from Fannie Mae. Once you are pre-approved, you can visit Fannie Mae's website and search the listings for foreclosed properties for sale. You will most likely need to reach out and begin working with a licensed real estate agent before making an offer to Fannie Mae, although this is not mandatory. Sometimes you can prepare and make an offer on your own.
Once you submit your offer, Fannie Mae will consider your price and may decline if it is below the purchase price. You can make a counteroffer, or present an offer on a different Fannie Mae property.
- What Is Foreclosure?
- What Are the Alternatives to a Foreclosure?
- What Are Fannie Mae Foreclosures?
- How Can I Prevent My Loan from Going into Foreclosure?
- What Are the Different Types of Foreclosure?
- What Are the Steps in a Pre-Foreclosure Procedure?
- How Many Late Payments Can I Make Before the Bank Starts Foreclosure?
- What Are the Steps in a Judicial Foreclosure Procedure?
- What Are the Steps in a Non-Judicial Foreclosure Procedure?
- What Is Redemption?
- How Does a Foreclosure Affect My Credit and My Future Options?