Freddie Mac HomeSteps
Visit HomeStepsactive auctions…
About Freddie Mac HomeSteps
HomeSteps, at homesteps.com, is where Freddie Mac sells homes it has acquired through foreclosure. Freddie Mac is a government-sponsored enterprise and owns each house outright, so title is clear at sale. Most homes are listed at an asking price through real estate agents rather than auctioned.
Homes sell as-is, with no repairs. Owner-occupant buyers get a window to make offers before investors are let in, so say so if you will live in the home. The purchase closes through a normal escrow, and you can inspect first.
Frequently asked questions
Is Freddie Mac HomeSteps an auction?
Mostly not. HomeSteps homes are listed at an asking price through real estate agents, and you make an offer the way you would on any listing. What sets them apart is the seller: Freddie Mac owns the home outright, sells it as-is, and gives owner-occupants a first window to buy.
How does HomeSteps differ from a sheriff sale?
Completely, in the way that matters most. Freddie Mac already owns the home, so you are buying clear title through a normal escrow with the ability to inspect first. At a sheriff sale you bid on a property you may not have entered, with certified funds due immediately and liens that can survive the sale.
Is there an owner-occupant advantage?
Yes. Like other agency REO programmes, HomeSteps gives owner-occupant buyers a window to bid before investors are allowed in. If you intend to live in the property, say so, because it is a real advantage on desirable listings.
Top states for HomeSteps
Where Freddie Mac HomeSteps currently has the most active listings.
