HomePath is the
branding used for all Fannie Mae-owned properties — anytime you see
something labeled "HomePath", it has to do with the sale of our Fannie
Mae-owned properties. For example, HomePath.com is our website, where
homebuyers and real estate professionals can get detailed information on
our listings, and HomePath Mortgage offers buyer financing products
How is buying a home owned by Fannie Mae different from other home purchases?
Usually, when you buy a home, you deal with a seller who lives in
the home. Fannie Mae has acquired these properties through foreclosure,
deed-in-lieu of foreclosure, or forfeiture.
When buying a
Fannie Mae-owned home, you should know the condition of the property,
the cost of any needed repairs, and the steps in the loan qualification
and closing process before you enter into a purchase and sales
Has Fannie Mae fixed everything in the house?
Fannie Mae may make some repairs to increase the home's
marketability but other repairs may be needed. Fannie Mae sells each
property in "as is" condition, which means that the buyer accepts the
property "as is." Fannie Mae is not responsible for fixing any problems
Keep in mind, even if the house has fresh
paint, brand new carpet, new appliances, perhaps even a new roof or
siding, it doesn't mean everything in the house is new, or even works.
Fannie Mae does not warrant or guarantee any work that may have been
done on the property, whether as part of its efforts to sell the home or
pursuant to conditions in the purchase contract. Where a home warranty
is available, you may wish to buy it at your own expense.
You should also consider hiring a qualified professional to
inspect the property, whether it has been repaired or not. Hiring a home
inspector is a recommended practice, no matter what type of home you
Can I buy a house directly from Fannie Mae without going through a real estate sales professional?
No, Fannie Mae depends
on the expertise of local real estate sales professionals and accepts
offers only through our real estate listing agents. You may work with
any real estate sales professional to submit an offer to the real estate
agent who has listed the property.
Learn more about Homepath Properties check out this Homepath Guide Book