Freddie Mac’s real estate unit offers home buyers the opportunity to purchase affordable properties with reasonable home discounts before investors are permitted to buying a Freddie Mac home in Chandler.
Freddie Mac’s “First Look Initiative” in Chandler gives the Chandler home buyer the opportunity to purchase a home in the first 15 days (30 days in Nevada) of listing, without the competition of investors. It does not require you to be a first time home buyer, although it does require the home to be a primary or secondary residence.
You can not purchase the home without the intentions of living in it. Home buyers are still able to submit offers once this protection period has expired.
6 Easy Steps to Purchasing a HomeStep Home
1.) Hire a professional Realtor®
Having a Realtor® on your side when buying a property is FREE when buying a Freddie Mac home in Chandler! When buying a HomeSteps home, the Seller will pay for your Realtors commission – so it’s best to have someone on your side that will represent your best interest and help you get through all of the contracts and bank addendums.
2.) Prepare Your Offer
Freddic Mac and HomeSteps require live signatures and will not accept DocuSign or any other electronic signatures. Your Realtor will help you sign the local or state contract.
3.) Sign Copies of the HomeSteps Addendum
1) Single-Family Real Estate Addendum
2) Lead-Based Paint Disclosure Addendum (if applicable)
3) Property Condition Addendum and Release
4) State Riders (if applicable)
5) Manufactured Home Addendum (if applicable)
4.) Submit a Buyer Pre-Qualification Letter
Before submitting any offers to be buying a Freddie Mac home in Chandler, you’ll need to be preapproved by a mortgage lender or loan officer if you’re borrowing money to purchase the home. Once you’re preapproved, the mortgage professional will give you a preapproval letter to submit with your purchase offer. This will be with the purchase contract and addenda to the listing broker.
5.) Negotiate the Written Offer Verbally
First you’ll submit the written offer… if there are any counter offers these will typically be done via email or verbally. Once the terms are agreed upon then the Seller will submit a final offer with written terms agreeing to the sale.
6.) Submit Final Terms
All requirements will need to be met with any additional deposit monies, and will be due to the listing broker within three (3) business days of the final verbal agreement, or Home Steps can withdraw the agreed upon terms.
People Who DO NOT Qualify for a HomeSteps Home
- HomeSteps listing agents
- Agents within HomeSteps listing broker’s offices.
- Independent Subcontractors
- HomeSteps or Freddie Mac’s employees
- HomeSteps or Freddie Mac’s employee’s immediate family or members apart of their household.
- Investors or anyone not intending on taking residence of the home.
If you have any questions about buying a Freddie Mac home in Chandler or buying a Freddie Mac home in Gilbert, please contact Jason Dawson, Realtor® at 480.442.9809 or contact about buying a home online right now.