please give some advice.
I just wanted to say that it is an extremely noble thing you are doing trying to buy a house for your disabled brother and although I am on the complete other side of the country I just wanted to commend you for this and I wish you success in this daunting task.
Arizona Homes for Sale by a Guy from Iowa
As already mentioned, Fannie Mae's FirstLook program excludes second home buyers and investors during the first 15 days of the listing. After that, you should be free to submit an offer on the property. Once again, consult with your Buyer's Agent on your timing and strategy with the offer.
All the best!
If you are financing, you should consider doing a loan with your brother on it. He can be the occupant borrower and you can be the "non-occpant" co-borrer. That would allow you to purchase during the First Look period as he is living in the home. We are pre-approving about 20% of our clients with a co-borrower and would be happy to explore this option for your family.
Todd Bookspan, MBA
Certified Mortgage Planner
602-522-9494 ext 201
Fannie Mae will sell to all buyers after a short wait period. Please email me the address of the house and I can find out if it's available for you. firstname.lastname@example.org
Licensed in AZ
Toll Free: 1.800 CALL ZIP x4127
My Profile: http://www.ziprealty.com/agent/jrath
Even if it hasn't been on the market that long (15 days), your REALTOR can check if Fannie Mae would make an exception for you and you may be able to submit an offer during the First Look period.
Good luck! I hope you get this resolved soon.
Jose Dias, REALTOR
Realty One Scottsdale