Home Buying in Lansdowne>Question Details

liz kamens, Home Buyer in Lansdowne, PA

What does it mean when it says offers have to be submitted online via Homepath?

Asked by liz kamens, Lansdowne, PA Thu Jul 25, 2013

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Bill Eckler’s answer
This simple means that you are interested in a property that already has offers on it. Multiple offer situation often lend themselves to the bank/seller requesting interested parties to submit their "highest and best" offer for consideration......a type of sealed bid that will be considered.
0 votes Thank Flag Link Fri Jul 26, 2013
This means the home is a foreclosed property that was financed through Fannie Mae. They tend to allow you to purchase the home with only 3% down. Good luck!!

Carmelle Jean-Paul
Century 21 Absolute Realty
512 Baltimore Pike
Springfield, PA 19064
0 votes Thank Flag Link Fri Jul 26, 2013
Homepath is a website and offer management system for properties listed by Fannie Mae. It doesn't really change the process too drastically for a buyer. You still write an offer with your Realtor utilizing the standard "Agreement of Sale". To that you add the Fannie Mae Purchase Addendum and an Owner Occupancy agreement and that's it. Your Realtor then goes online and enters your offer onto the Homepath website and uploads the necessary documents. The folks at Fannie Mae review your offer and either accept or reject your offer. It's not much different and an ordinary purchase. It takes a bit more patience as Fannie Mae takes a few days to respond. If you have any more questions or would like someone who knows how to make this as easy as possible for you, feel free to contact me. Thanks.

Mike Reyman
Prudential Fox & Roach Realtors
(610) 731-6110
0 votes Thank Flag Link Thu Jul 25, 2013
Thanks Mike...and if something says it is under contract, is that a pretty sure thing that it is unavailable?
Flag Thu Jul 25, 2013
Homepath wants their offers submitted by computer;
Your Realtor can take care of that.
0 votes Thank Flag Link Thu Jul 25, 2013
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