I was asked the other day - I'm looking at a house that is owned by Fanny Mae. Do I need a realtor?

Everyone needs and should have a realtor when buying a home.  In Minnesota, buyers receive free representation by realtors because the commission is almost always paid for by the seller.  This gives you someone to help you walk through the process of home inspections, financing, appraisals, and getting you to closing.  Savvy buyers almost always have their own real estate agent working on their behalf.  There is no reason that everyone should not be savvy when purchasing a home!
  • March 11 2014 - White Bear Lake
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Answers (4)

Fannie Mae has specific processes to go through which involves a REALTOR on both sides of the transaction.

The Listing Brokerage had to go through an extensive process to qualify to receive FANNIE MAE listings.

FANNIE MAE makes Buyer Agents register to be able to represent buyers.  

I Like FANNIE MAE Houses and they have recently been doing good things to renovate these homes such as new carpet and paint and new kitchen appliances except refrigerators.   If HVAC has been damaged (Stolen) they put in new there too.
  • March 11 2014
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I agree Tim, you will be more than likely dealing with a realtor as most buyers are not going to deal face to face with Fannie Mae.  The service you get with having a realtor represent you is more than likely free so why not use them.  One of the biggest fails is a buyer on their own not filling or filing the correct paperwork in time nor strategizing the best and highest offer for submission.

A buyer does not have to have an agent. Wouldn't it be better to have two heads rather than one if its not going to cost you?
  • March 11 2014
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No, not everyone needs a realtor when buying a home.  There are numerous cases where a savvy buyer is better off not using a realtor.
  • March 11 2014
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Yes, you will be dealing with a Realtor one way or the other since Fannie (or any other bank property) will be listed for sale with a Realtor and so you deal with them or get your own. I suggest getting your own because the bank pays them, not you, which means they are FREE to you so why wouldn't you get free help? Dealing with a bank can be harder than Mr & Mrs Jones. Get help
  • March 11 2014
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