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.