Instruction Sheet for Offers On

INSTRUCTION SHEET FOR OFFERS ON FREDDIE MAC/HOMESTEPS PROPERTIES

Thank you for writing an offer on one of our Freddie Mac Homesteps properties. We want to work with you to make this transaction as smooth as possible. Below you will find some tips to assist you in writing this offer, as well as some items in the Freddie Mac addendum that your buyers will need to pay special attention.

Please fax the contract, addendum, prequalification letter and copy of earnest money check to Gina Rogusky at (678) 672-3155. Keep in mind, if contract is accepted, the earnest money will need to be a cashiers check payable to McCalla Raymer. Gina will call to confirm receipt and review offer to insure we have everything we need to begin negotiations with Freddie Mac. Negotiations will be verbal. Please be patient and know that we will call you as soon as we have a counter or acceptance. Once verbally accepted, we will need original contract package signed in blue ink. Homesteps prepares their required addendums on their end and this will be emailed to you once in their system. The selling agent will have to prepare the updated 7 page GAR contract, no mark ups, a clean copy and have the Homesteps required addendums signed at the same time by the buyer. Once the package is complete, please hand deliver or next day to Prudential Georgia Realty, 4750 Alabama Road, Ste. 50, Roswell, GA 30075. These documents will be overnight to Freddie Mac’s attorney with return contract executed in 3-7 business days. Please advise your lender.

When writing your offer, please do not assume that the Seller is performing, or paying for any items that you believe to be “customary” on other deals. For example, if you want a clear termite letter at closing, you will need to specifically request that in special stips! All properties are being sold as is.

ON THE GAR CONTRACT

# 8 Sellers Disclosure- Strike, all foreclosed properties are exempt. # 19 D –Strike - Survival # 20 Please add to the GAR list Freddie Mac Addendum and the Freddie Mac Disclosure addendum.

It is mandatory that we receive a strong pre-qual letter or proof of funds if a cash offer. The lender needs to verify that the credit, cash to close, income verification and debt ratios have all been received.

Closing dates are very important to Freddie Mac, so please put down realistic dates. Please make sure your buyer and lender understand that per diem dolloars will go into effect if the property does not close on time per calendar day! Final earnest money will need to be in the form of a cashiers check and made payable to McCalla Raymer. McCalla Raymer will also be the designated closing attorney for this transaction. McCalla Raymer, 900 Holcomb Woods Parkwy, Roswell, GA 30076 (678) 277-5000.

Freddie Mac Addendum Notes:

1) Conditions of Sale – Please make sure buyers review this paragraph

2) Per Diem – Make sure you have spoken with the lender and have realistic closing date. Freddie Mac expects $100 a day to be filled into the space provided.

8) Condition of Property – Please review and note that Seller does not warrant sewer or water supply to the property.

9) Inspections – To be completed within 10 days of final execution date. If it is October-March, the property will be winterized and we will need at least 36 hours notification of inspection to dewinterize the property. Please review the verbiage and time limit on canceling contract if inspection is unsatisfactory. Seller is exempt from Disclosure Statement.

11) This is the area to note any termite requests, letters or treatment!

12) Anticipated Lender repair dollar cap would be inserted here.

17) Any closing cost request to be paid by Seller would be inserted here.

22) Nothing survives the closing. Delivery of deed is deemed to be full performance and discharge of all Seller’s obligations.

23) Keys – No mailbox keys, recreation keys, gate cards or automatic garage remotes will be provided by Seller, as this is a foreclosure. These items will be responsibility of purchaser. In addition, property is currently keyed to a master key and purchaser should have property re-keyed after closing.

Thank you again, for submitting an offer on this Freddie Mac property. Our goal is to work with you in making it a smooth and happy transaction for all parties!

PRUDENTIAL GEORGIA REALTY SIMPSON REO TEAM, LLC 4750 ALABAMA RD, STE. 50 ROSWELL, GA 30075 (GA400, EXIT 7, TOWARD CITY OF ROSWELL, APPROX 7 MILES)