If you sell a home owned by Freddie Mac, you can earn an extra $1,000 above your commission — from now (February 18) through April 15. And if you represent someone who buys one, you can earn an extra $500.
“HomeSteps” is Freddie Mac’s REO division, and the government-sponsored enterprise is offering the incentives to try to clear some of its inventory in certain states, including Virginia, according to a released statement. (They’re also available in some neighboring states, including Kentucky, North Carolina, and Tennessee.)
Not only can agents get the extra cash, but home buyers can as well; Freddie Mac is also offering $500 they can they can use “towards condominium association dues, flood insurance premiums, or the home warranty of their choice.”
There is some fine print, such as the home must be sold as a primary or secondary residence and the closing settles on or before May 30, 2014. “The promotion does not apply to investor purchases, auction sales, sealed-bid sales and bulk sales,” according to Freddie Mac.