The Freddie Mac real estate sales division, HomeSteps, began its summer promotion Monday to boost sales of previously foreclosed homes, known as REO. The government-sponsored enterprise held 65,000 REO properties at the end of the first quarter, but it sold a record 31,000 during the period, according to its financial supplement. To push sales even higher during the usually busy real estate season, Freddie will offer up to 3.5% buyer’s closing cost assistance. The offer is available for owner-occupants only. Freddie will also grant a $1,200 bonus to agents who submit an initial offer to HomeSteps between May 16 and July 31. The escrow must close on or before Sept. 30. Freddie will also offer a two-year limited home warranty covering electrical, plumbing, air conditioning, heating and other major systems. It can also provide a 30% discount on appliances for the new buyer. Write to Jon Prior. Follow him on Twitter @JonAPrior.
Freddie offers closing cost help, agent bonuses on REO
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