Thursday, August 19, 2010

First Look Marketing Period

Before Fannie Mae came up with the "First Look Marketing Period", many qualified buyers were missing out on properties due to the fact that investors were buying REO properties during the first week on the market. Now during the First Look Marketing Period, a property can ONLY be sold to a qualified buyer. A qualified buyer is someone who is going to be purchasing their primary residence and will be occupying the property, public entities such as a City, county or municipality buyer, and other Entities using Public Funds such as a Non-profit or for-profit partner organization. To find out if a property is within the First Look Marketing Period you can go to and at the bottom of which listing it will tell you how many days are left in First Look Marketing Period.

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