Selling for Fannie or Freddie? Remember the rules!

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
  • employee
  • 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.

About Andrew Kantor

Andrew is VAR's editor and information manager, and -- lessee now -- a former reporter for the Roanoke Times, former technology columnist for USA Today, and a former magazine editor for a bunch of places. He hails from New York with stops in Connecticut, New Jersey, Cincinnati, Columbus, and Roanoke.
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