buying from

7 Replies


I'm considering a house from, FHA, OO ... first time home buyer ... I got a few questions.

- Do I do it myself or go through it with realtor (I signed some contract with Realty)?

- Can I see the house before I put an offer in? 

Please let me know.  Thanks,


Yes, it's just like buying any other house.  You'll need a preapproval, and of course you should see the property before placing an offer.  No disadvantage to using your own buyer's agent, and as a first timer well, "you don't know, what you don't know".

Smart Tech For The Smart Landlord
The Smart Way To Manage Your Rentals
Enjoy growing your portfolio without paying more for it. Unlimited units & easy-to-use apps.
Get Unlimited Units

Another cool thing for you about Homepath homes is there is usually a 21 day owner occupied only bidding period when the home is 1st listed.  So if you move quickly you will not have to deal with investor competition.

Definitely use a buyer's agent, and preferably one who has been through the Homepath process before.  You're buying from the government which means lots of extra paperwork and a more strenuous process. Ask @Scott Trench  

I am an agent in Vancouver, WA - just outside of Portland, OR - and I will be closing my first transaction through Fannie Mae and Homepath on Tuesday of this week. The biggest hurdle is the out of state escrow that we had to use. I don't always think that is the case with Homeopath purchases, but just keep that in mind - time is DEFINITELY of the essence in these deals. 

In my particular case - a cash deal for a Fannie Mae property - earnest money had to be 10%. Any earnest money deposit over $10k has to be wired. Make sure you have proof of funds. And pay careful attention to wording in the inspection clause of the addendum, which is different than a "normal" deal in my state. The addendum that typically go with regular transactions do not apply, but are included in the Fannie Mae purchase and sale. 

With all this in mind, I would go with an agent who has done one before. Lol. I will add that confidence grows with experience, and after this deal, I feel a lot better about doing more of them in the future.

Good luck!