Freddie Mac comes through again…

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Once again I’m experiencing the benefits of buying a Freddie Mac home…

Although buyers now are responsible for paying the State and County Transfer Tax in Michigan, the condition of the home and the inspections that are completed do offer savings.  For example, Freddie will perform – and provide a written report of – a Pest Inspection for you.  That is a $95.00 inspection if you pay for it yourself.  In addition, they will perform a Well and Septic Inspection – required by some counties at the Time of Sale (such as in Washtenaw and Ingham counties…to name a few around us).  That inspection fee?  $400!

Although a Seller’s Disclosure is not available to us – Freddie can not complete this because they did not reside in the home – their properties are reviewed for safety hazards which are quite often repaired prior to going on the market.  I have seen them even replace deck railings!

So, all in all…not a bad option when buying a foreclosed property.

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