HomeSteps, the real estate sales unit of Freddie Mac, is now offering a special limited time offer of $1,500 to help condominium buyers pay for future associates dues.
The “condo cash” offer is available to buyers who submit offers on a property between Aug. 15 and Nov. 15. Escrows have to be closed on or before Dec. 30 to be eligible for this offer.
HomeSteps’ condo cash offer can only be used on HomeSteps homes that have been on the market for at least 120 days and sold to owner-occupant buyers. The offer is not valid on HomeSteps condominiums purchased through auction, sealed bids, bulk sales or in areas where such offers are prohibited by law.
Some of the condominiums will come with a two-year home protection warranty that covers electrical, plumbing, air conditioning, heating and other major systems and appliances. Home Protect also provides discounts of up to 30% on the purchase of appliances.
If you think that offers like these from Fannie and Freddie have become a trend in recent months, you’d be right. In May, Freddie Mac announced that it was offering up to 3.5 percent in closing cost assistance and a bonus of $1,200 to the selling agent for offers on HomeSteps properties (real estate owned or REO) received prior to July 31, 2011, in an effort to boost sales this summer.
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