Thanks for taking a quick minute!
Attached are the guidelines from Freddie Mac (Homesteps) regarding parties who are not allowed to buy any Homesteps listing offered by London Properties. Although this particular attachment is Homesteps’; it is our understanding that the same "Code of Conduct" must be followed on Fannie Mae properties offered by London Properties.
In short, Agents, employees, officers with London Properties or anyone related to us in any way cannot purchase a London Properties Freddie Mac, Homesteps, Fannie Mae REO listing.
Please note Homesteps’ definition of "Suppliers" and that no buyer who has any relationship to a supplier will be allowed to purchase a property.
Although the guidelines at first suggest that parties related to suppliers be disclosed for Homesteps’ approval or disapproval read on and make no mistake. Knowing of such relation, they will "refuse to sell a Homesteps home to any related party of a Supplier, even if such relationship has been disclosed to Homesteps..
We are one of very few Brokers in the Central Valley that have secured Freddie and Fannie business and cannot jeopardize this relationship. They adhere very strictly to these guidelines and in the last 60 days have terminated 3 Brokers in California for not following these guidelines.
Thanks again and please see your Manager with any questions.
