Profile picture for peakaboo1030

Freddie Mac/Fannie Mae listing agents....

Do you have to go through the listing agent for Freddie Mac or Fannie Mae? Can u call Freddie Mac up yourself... Can you cut out the middle man?
  • July 05 2012 - Millstone Township
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Answers (7)

Profile picture for vfoley2
If my buyer's agent (who unfortunately has no foreclosure experience) has already submitted the offer, can I get a new one?
  • October 27 2012
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Profile picture for vfoley2
What is the listing agent is blocking the deal? We have an accepted offer with Freddie Mac but the listing agent has been difficult since the beginning and is not getting any of the required paperwork we need, blocking access for the inspection, etc. She is more interested in the tenant that is there than making sure the deal happens.
  • October 27 2012
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Find a Realtor in your area experienced with the Fannie Mae HomePath Program, or Freddie Mae HomeSteps Program as a listing agent. Have them represent you as a buyer if you are certain about the purchase of a foreclosure listed by a Fannie Mae or Freddie Mac representative. Having an agent who understands the policies and practices of these mortgage entities, and pricing habits of asset managers will work in your favor. Especially if competing offers occur.
  • July 09 2012
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Keep in mind the seller Fannie /Freddie pays the commission not the buyer. The price of the home is determined based on the appraised value on a foreclosure. I would recommend you hire a buyers agent to help you negotiate and make sure your are obtaining all the inspections. Foreclosure homes can a a lot of hidden problems. The banks sell the home as is. Since the owner is the bank and they have never lived in the home....banks are exempt from some of the disclosures regarding the homes current condition that would be required on a standard sale. Agents are there to help you- and protect you...Good luck to you!
  • July 06 2012
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Profile picture for Ofe Polack
You cannot cut what you call the middle man, sorry.  You either wave buyer representation and work with the listing agent (who would do that?) or contact a buyer agent and the agent will represent you.  Good luck!
  • July 06 2012
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You don't need to go through the listing agent,  but you need to use an agent if you want to present an offer on Freddie and Fannie listings. 
  • July 05 2012
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Profile picture for katzdo
At least with Freddie and some other banks that have foreclosed on properties for sale, they will direct you to the agent  that they have assigned the property to.  Most of the properties get assigned to an agent before it ever hits the market.
  • July 05 2012
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