Fannie Mae Homepath Online Offer

[Andre Pridgeon]

I have recently made on offer through my realtor on a Fannie Mae Homepath home through their website. My realtor doesn't seem to have any previous homes she has dealt with in this way, so my questions are..

1. The home is still in the “First Look” window for owner/occupants only and did not have any previous offers to my knowledge as it did not get marked with the “online offer” banner on their homepath listing website until after my offer was submitted. Is anyone else allowed to make an offer once mine has been submitted? Time is of the essence since after the First Look window is over everyone else including investors will have a chance to make an offer as well.

2. Since I saw no other offers before mine does that ensure there will be no “multiple offer rounds” type of scenario..I don't see how they can take my offer and sit on it, or wait it out because of the above mentioned time frame for their First Look opportunity.

[Julia Dugger]

@Andre Pridgeon, in most circumstances, there are multiple offers from owner occupants during that First Look window. Fannie Mae will typically negotiate those offers -- as long as something is reasonably close to list -- in a good faith effort to get the property under contract with an owner occupant. If none of the offers that come in during the First Look period are viable, offers are then accepted from investors as well.