Courtesy of St. Charles Association of Realtors:
FANNIE MAE ALERT FROM OUR TITLE AFFILIATES
We have been informed that Fannie Mae has a new special contract addendum for Fannie Mae foreclosure sales that could result in your buyer paying the seller’s closing fee. The fee can be high, and some agents have been caught off guard.
Be sure to have your buyer’s carefully review all contracts and addendum so that they have a complete understanding of the costs involved in their real estate transaction.
ALWAYS, ALWAYS READ EVERYTHING THROUGHOUT YOUR TRANSACTION. And please, make sure you understand everything!!