Can't submit offer to homepath property within firstlook period
I'm looking at a property on homepath.com that is still within First Look period (3 days left). I contacted the listing agent, and she told me that the property went pending today. She also said that she see no reason for it not to be a successful sale.
It sounds like that I couldn't even make an offer on this property, even though it's still within the First Look period. I wonder if this is the standard procedure with Fannie Mae? It doesn't sound to be the best interests of the Fannie Mae itself as well as the owner-occupant home buyer. I know that for HUD, they will wait for the entire owner-occupant period to expire before looking at all the offers on the table.
Any thoughts on this?