First Dibs for First-Timers on Freddie Mac Owned Foreclosure Homes!

Freddie Mac Phoenix foreclosure homesBuyers who plan to live in their Freddie Mac-purchased home will get to see properties for the first 15 days they’re on the market — before the listing opens up to would-be landlords/investors.

Many Phoenix area bank-owned foreclosure properties are snatched up by cash investors who can wait out the downturn to sell later at a profit. 

“It gives families who want to buy a home to live in the opportunity to look and bid without competition from cash-rich investors,” says a Freddie Mac spokesman.

Knowing that you are not going to be out bid by a savvy cash investor helps put local Phoenix home buyers at ease during the negotiation phase. However, it is important to note that just because there are no cash investors to compete with buyers still need to make sure they make a competitive offer and work with a Realtor that will get them the most information on offers they possibly can before submitting an offer.

This holds true especially if the home is in good shape and will not require much out-of-pocket expense after moving in.  Move-in ready homes for obvious reasons attract attention from all qualified buyers looking in a specific area because 1. ) less out-of-pocket expense, and 2.) the property will meet FHA loan required condition.

If a home is priced right and move-in ready most likely it will have competition among buyers and with Freddie Mac they also offer a home warranty which is even more incentive for buyers to place a bid on a Freddie Mac owned foreclosure home.