Buyers: Did You Know...that if you purchase a Fannie Mae-owned foreclosure property eligible for "HomePath" that you could receive up to 3.5% in either closing costs or new appliances? And that is in addition to any HomeBuyer Tax Credits.The good news is that this incentive program runs through May 1, 2010...so you still have time!
I know what you're thinking: Are there any of these homes still available? Actually, yes! After searching our MLS this morning for Active Homepath-eligible properties, there are currently:
* 21 properties listed in Fairfax County priced between $99,900 and $499,900
* 7 properties in Loudoun County priced between $124,900 and $385,000
* 11 properties in Prince William County priced between $75,000 and $325,000
There are indeed restrictions, such as you must be an Owner Occupant (sorry, no investors) and the property purchased must be eligible for the Fannie Mae Homepath Program. Additionally, your Lender may have other restrictions on your loan - so it's best to check with them directly. Here's a website link to more Homepath information.
If you've been actively looking at homes you may know that some foreclosures are selling quickly. So speak with a REALTOR who knows the neighborhoods and who will take you to see and bid on properties early enough to grab a bargain. Many foreclosure homes are selling with multiple offers, so your REALTOR should supply you with comparable sales information on the area so you can be armed to make a strong offer.
I have been able to obtain foreclosure properties for my clients and I'd be happy to assist with this process! If you aren't already represented by a REALTOR, simply call or text me at 571-283-1230, or send an email to Dee@FineVirginiaHomes.com.
Happy House Hunting!
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