Mortgage Loans

[jessica04]

I put an offer in on a freddie mac home this weekend. There are no other offers at this point. Wondering if anyone has any experience with Freddie and how it went?

[jessica04]

I am the only offer on this listing so far. They are asking 139,900 and I offered 118. They came back with 137k. Is this typical for freddie mac?

[Blackhawks_girl30]

I put offers in on a a few Homepath homes, I believe pretty much same deal as this.  Each house ended up having multiple offers that I put offers in on.  There was a sheet at each property though pretty much saying they know what they property is worth and they have listed accordingly.  If this is the same kind of deal then my guess is they are expecting to get close to list price.  Is this one of the homes that they put new items into already or would you need to fix it up?  I'm sure that could make a big difference too on if they would accept a lower offer.

[jessica04]

Well intitially it was listed at 160k and they have not done any repairs to it. It was listed Oct 1st. From what I've read, it seems like they don't come down much from listing price.

[seigex]

Mine is a Freddie Mac Homepath home.. Experience has been great.. they are paying for 3 out of 4% of closing costs and did section 1 and 2 termites... and apparently Homepath will pay for any repairs that fail from my VA Apprasial also... 

[jnkp2001]

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seigex wrote:

Mine is a Freddie Mac Homepath home.. Experience has been great.. they are paying for 3 out of 4% of closing costs and did section 1 and 2 termites... and apparently Homepath will pay for any repairs that fail from my VA Apprasial also... 

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We are now going thru the same thing.  No one told us about section 1 and 2 termites.  Tho we know it needs a termite inspection that we have to pay for.   And good to know they will pay for VA repairs.  We also got the 3 percent at closing as well.

[seigex]

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jnkp2001 wrote:

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seigex wrote:

Mine is a Freddie Mac Homepath home.. Experience has been great.. they are paying for 3 out of 4% of closing costs and did section 1 and 2 termites... and apparently Homepath will pay for any repairs that fail from my VA Apprasial also... 

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We are now going thru the same thing.  No one told us about section 1 and 2 termites.  Tho we know it needs a termite inspection that we have to pay for.   And good to know they will pay for VA repairs.  We also got the 3 percent at closing as well.

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You should ask them to cover termite... from what my agent said it's pretty common for them to... worth a try

[jessica04]

Wow, that's great they offered termites for you guys...that was the first thing they took away in their counter offer...which I'm ok with because I don't believe it applies to this house

[seigex]

For my section 1 & section 2 they mentioned sub terranian termites and they had to separate them from the foundation, then replaced several dry rot boards on my deck.