Many owner occupant buyers are nervous about purchasing a foreclosure.Â This is really not a surprising fact considering many foreclosures end up sitting vacant for months, vandalized or simply uncared for during the many months the property sits before being listed for sale by the banks.Â It is true that a home that has not been lived in for a certain period of time begins to deteriorate.Â It is sad.Â Fannie Mae has just rolled out an incentive program that I was unsure of at first.Â I have now closed two owner occupied buyer deals and am glad to say that my clients are very happy in their new homes!
Fannie Mae does make the effort to take care of their properties before and during the selling process.Â Their buyers incentive program will pay 3.5% closing cost assistance if you purchase and close on a Fannie Mae home by December 31, 2010.
Feel free to contact me for additional information or to assist you with your home search!
Kristin Collins Real Estate Consultant
Keller Williams Realty
716 E. 47th St.Â Chicago, IL 60653 Tel: 773-206-7927