Use the NEW Fannie Mae Contract/REPA below to make offers - You no longer use an AS-IS and FM REPA -
To Make an offer you must include:
1) Cover Page - MLS attachment
2) The FM REPS - 16 page contract attached
3) LBP (if pre 1978)
4) Utility Inspection Notice
5) specific forms if attached in the MLS.
Once Completed & signed by your buyers, you must upload your offer to www.HomePath.com with a Pre-Qual letter or Proof of Funds.
* These 'HECM' properties do not have an Owner Occupant First Look Period, but the property must be in the MLS for 3 days before an offer can be submitted.
* Fannie Mae is EXEMPT from paying Transfer/Doc Stamps - Buyer will pay these fees.
* Pre (less than 6-months on the market) - if the MLS Agent Remarks state "THE SELLER MUST COMPLY WITH HUD GUIDELINES 24 CFR 206.125" Fannie Mae cannot accept any offer less than full price.
* Post (more than 6-months on the market) - will have no special language in the MLS Agent Remarks then, Fannie Mae can accept offers outside HUD guidelines.