Colorado Springs Real Estate

Colorado Springs Real Estate Blog

Fannie Mae makes changes for REO Investor Purchases

Posted on December 9, 2009 by Patricia

Yet another change that will affect investors who purchase Fannie Mae Real Estate Owned (REO) listings.  Investors will not be allowed to submit an offer on an REO property until after it has been on the market for 15 days.

Within the first 15 days, only bids from buyers who will occupy the home as their primary residence will be accepted.  Buyers may be pleased about the change since they will not have to compete against investors for Fannie Mae REO properties.  Investors often submit cash offers to the bank and make it difficult for other buyers, especially first time home buyers to compete.

Also read:
Changes that may affect investors purchasing homes in foreclosure

Patricia Beck – Selling Colorado Springs Homes

About Patricia

As a Colorado Native, I am here to assist you with all of your real estate needs. If you are planning on selling or buying real estate in Colorado Springs, I will provide you with the information you need to understand the real estate process and guide you through the transaction until closing. If you would like more information or have additional questions about Colorado Springs real estate, please contact me. Feel free to review testimonials on my website.
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