* Update as of Jan 2014: With the conversion from Rapattoni to Matrix it appears our ‘attached documents’ are not being shown. If you have access, please check rapattoni for the documents. Otherwise, you will find everything you need below or you can go to www.Homepath.com for instructions as well. *
Real estate agents in and around Cape Coral and Fort Myers Florida, we appreciate your help in selling our Fannie Mae listings. We want to make the process as easy as possible for you & your buyers so we’ve created this page to assist you with the process. Fannie Mae requires certain forms and information to purchase their listings. Below you will find the necessary forms and details to assist you with your Fannie Mae offer.
Offer Negotiation & getting in touch with us
Fannie Mae, through the homepath.com website has loads of information to assist you with your offer and closing as well. But we know that the first couple offers you put in may seem a little challenging at first. We want you and your buyers to have an easy time with the process and encourage you to call or email our office for assistance you cannot find through our site, mls or through fannie mae’s information. Typically speaking an email or text gets a faster response than leaving a voice message but please if you call and reach our voicemail leave a message and wait for a call back. We do return all calls promptly but sometimes we are on the other lines or with a customer. When you keep calling multiple times in a row it creates more work for our staff and agents. Your time is very important and we realize you are eager for status information but please allow us a reasonable timeframe to get back with you.
Property Status, Is it still available? What about the first look period? Are you still accepting offers?
You’ll find that 99.9% of the status’s are going to be correct in the MLS but once in a great while you may see an incorrect status prior to us being able to make the change. This can happen because we are negotiating in homepath.com and also through our communication system with Fannie Mae and then updating the MLS once we have a status change. Every once in a while you could find the information incorrect on homepath.com as well but we strive to keep everything correct. You can see the 15 day first look countdown on Homepath.com. It may not be identical to days on market in the MLS. This could be for many different reasons but the typical reason is if it went off the market with an offer and then back on (Fannie Mae requires 15 days ON the market total prior to taking investor or second home buyers offers).
Fannie Mae Addendum and other Forms
Below is a list of documents commonly used when presenting an offer to Fannie Mae. Fannie Mae is very strict on having the contract & addendum filled out correctly. This includes proper information & signatures & initials where required. Our ‘how to’ form goes over it all but if you need any extra help let us know.
Fannie Mae Addendum to the Contract – required on ALL offers – must be filled out completely properly (verify you are using the most recent version by checking on Homepath.com)
FAR/BAR As-Is Contract for Sale & Purchase – required on ALL offers – must be filled out completely & properly (always use the most recent version)
Owner Occupied Certification – required on ALL offers involving an Owner Occupant (end user/primary resident) – buyer & agents must sign
Fannie Mae CoverSheet – while this isn’t required, it helps us immensely in creating the final draft for all parties to have correct information
Proof of funds or Pre-approval letter – required with ALL ACCEPTED offers (and can help with initial offer getting accepted as well) (you get this information from your buyer or their bank or lender) If buyer is financing we need at minimum the following to be able to submit their offer: Mortgage/Bank/Lender Co name, person handling file’s name, phone #, email address, type of loan, % or amount putting down, % rate of loan.
Lead Based Paint Disclosure – required with ALL offers on properties built 1978 & prior
How to Submit an Offer – for agents to make sure their offer is put together correctly (created by Florida Future Realty to help)
How to Submit an Offer for Customers – for agents to give to buyers to help them when they are not in front of an agent when completing the offer & other forms
Homepath Resources – links to resources to assist you with your offer
I put in an offer, when will I hear back?
This question cannot be answered with a simple answer. If there are no other offers in and your offer was put together 100% correct in most cases you’ll hear back within 48 business hours. However if there are multiple offers you will go into a ‘multiple offers / highest & best’ period. If your offer isn’t the one Fannie Mae decides to counter first you may not hear for several days to a couple of weeks. This is typically because Fannie Mae is countering back and forth with another offer. That is usually good news for your buyer as another offer hasn’t been accepted yet. Keep in mind you can also change or rescind your offer at anytime until acceptance. Should you be the offer to be countered first keep in mind that Fannie Mae could have 1 or several other offers sitting there so if you really want the house you need to think about putting your best offer forward or they can move on to the next offer.
Why do I keep missing out on all the good deals??
Feel like you keep missing out on the good deals? We send out a Coming Soon email with our assigned properties prior to the actual listing going live. This can give you a head’s up to be prepared for a great property coming on the market. You can also set up a search on homepath.com and set it to automatically send you ‘coming soon’ properties as well from any listing agent. Keep in mind that coming soon may mean tomorrow and it may mean 2 weeks.
Anything you think we missed here? Let us know and we’ll add it!
Our office recently moved and we are now located in Central Cape Coral at 804 Nicholas Pkwy E, Suite 3, Cape Coral, FL 33990. Our number is the same: 239-542-8521
Yours in Success,
Florida Future Realty, Inc.