|Understanding the Fannie Mae First Look Initiative
Understanding the Fannie Mae First Look Initiative
People looking at my Fannie Mae Homepath properties often ask me what the First Look Initiative is, as it often causes some confusion with both buyers and agents.
The Fannie Mae First Look Initiative runs for the first 15 days a property is listed. During that first 15 days, the home is available for purchase to buyers who plan to live in the property. The First Look Initiative also applies to buyers using public funds to purchase.
The idea behind the First Look Initiative is to help stabilize neighborhoods by giving owner occupants the chance to purchase the home before investors.
The new owner occupant must move into the home within 60 days of closing.
Investors may submit offers once the First Look Initiative expires. The time frame can be verified on the Homepath.com website. Each property has a countdown clock clearly displayed.
You can search for Fannie Mae Homepath properties for sale on the Homepath website, or click here: to request daily notification of new Fannie Mae Homepath properties in the Upper Cumberland region of Tennessee.
Cookeville TN native. A full time, full service agent for the entire Upper Cumberland region of Tennessee.
American Way Real Estate Co.
931-526-9581 Office phone, 931-528-6569 Office Fax