Freddie Mac to Provide Cost Incentives For REO Home Buyers!

Yep, you read that correctly. Freddie Mac is offering a new program designed to help reduce the number of REO's from the market. The real estate sales unit of Freddie Mac called HomeSteps is providing several promotions to reduce inventory and depending on your own personal situation you may qualify. Here are the details:

• Freddie Mac will pay up to 3% of the final sales price towards the buyer's closing costs and a $1,000 selling agent bonus for initial offers received by HomeSteps between November 15, 2011 and January 31, 2012 with escrow closed on or before March 15, 2012. This offer is valid only on HomeSteps homes sold to owner-occupant buyers.
• A two-year Home Protect^® limited home warranty that covers electrical, plumbing, air conditioning, heating and other major systems and appliances is offered on some eligible HomeSteps homes. Home Protect also provides discounts of up to 30 percent on the purchase of appliances.

On average a HomeStep house sells for 94% of the estimated market price.

For more details including who actually qualifies head over to the press release or to HomesSteps.com.