Jul 28, 2011
Selling for Fannie or Freddie? Remember the rules!
28 Jul 2011
Posted by Andrew Kantor
Realtors and brokers selling REO properties for Fannie Mae or Freddie Mac have some specific
guidelines rules they have to follow — at least if they want to continue to sell for Fannie or Freddie. (And who wouldn’t?)
The general rule is that, if you’re representing one of these properties, you can’t sell it to…
- a family member
- anyone who does work on it (e.g., the gardener)
- anyone who has access to the details of the property “including the property’s valuation and/or analysis through company records.”
But that’s just the quick and dirty. Be sure you know the details before you step in something you don’t want to.
We’ll make it easy for you: Click here to download NAR’s PDF explaining the rules.