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Updated over 11 years ago on . Most recent reply

User Stats

257
Posts
18
Votes
Mark Beekman
  • Investor
  • Phoenixville, PA
18
Votes |
257
Posts

Is this really how Freddie Mac operates?

Mark Beekman
  • Investor
  • Phoenixville, PA
Posted

I found a potential property through Freddie Mac's HomeSteps and called the listing agent for a showing. He informed me that there was already an offer on it, but he said he couldn't tell me how much the offer is for. I explained to him that I didn't want to waste his time or mine by inspecting the property and writing an offer in a blind bidding war and he told me the following about how Freddie Mac operates:

"Freddie Mac only looks at one offer at a time. They'll decide to either flat-out accept or deny the first offer before they even look at yours. For that reason, there's really no bidding war."

Is this correct? Do they operate on a highest & best basis? I would think they'd look over all the offers and see which one they want, no?

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