B- Fannie Mae Offer instructions for HOME owned by the Federal National Mortgage Association also known as , Fannie Mae, FNMA- These are meant to assist you with the offer process. Please printout offer instructions. Initial by each procedure and submit this signed instruction sheet with your offer. Thank you. ____ Offers will be submitted on a CAR contract. All buyers must be named, Please use the name that the loan or title will be in ( Micheal W. Smith instead of Mike Smith) . We must know if it is owner occupied or if the buyer has ever purchased a Fannie Mae property. Fannie Mae has there own AMD which will accompany the contract. FNMA gives opportunity for the first look program and this helps them determine eligibility. ____ A copy of the earnest money deposit must accompany the offer. The earnest money deposit must be a check made out to _________Title Company. The check must be from the buyer. The Buyers name must appear on the check. If this is a cash purchase the EMD should be 10% of the purchase price. ____ If this is a cash offer you will provide a verification of funds ( bank statements) , dated within the last 30 days from date of offer submissions. The VOF will accompany your offer. VOF should be in the name if the buyer. ____ If the buyer plans on acquiring a loan for the purchase of this property they must get pre-approved by our preferred lender. The buyer may use any lender they wish- but we need an approval in order to verify the buyer will be able to obtain a loan. ************************************************************************************************************ We need an approval letter from one of the following lenders. The buyer may use their own lender- but we do require an approval letter from one of the authorized lenders below.If you like the lender can just call you lender to verifiy they have the items needed to determine the buyer can get a loan. FHA, Conventional, VA and HOMEPATH contact: Wells Fargo Direct:916-787-3614 Fax:916-209-9931 website www.wfhm.com E mail: Dawn.Jarman@wellsfargo.com ************************************************************************************************************ ____ The agent representing the buyer understands this is an ‘As Is” sale. The seller will not be making any repairs or concessions for repairs after the property is in contract. If repairs are requested the amounts and requirements must be defined in the inital offer. The agent is advised to complete a thorough inspection of the property prior to offer submission. The agent should submit a AVID with offer. ____ If this is VA or FHA- you are advised to have a pest report completed on the unit prior to making an offer. Or review it if it is attached to the listing. The bank will not agree to pest repairs that do not specify a dollar amount. ____ Send the offer to : Offers@capitolcrown.com or fax to 916-880-5553. If you would like confirmation of offer receipt, please also send an e-mail asking us to confirm receipt of your offer. We are happy to oblige. E- mail is the most efficient and best way of communicating with us. ____ The offers must come across clear. The bank will not accept copies which are not clear. Know that we will send you an electronic copy of the adm- Please print it out and get the original signed by the buyer then fax or email direct to us. ____ Typically Seller will not be ordering any inspections once in contract. ____ Doc’s should be in title a minimum of 5 days prior to closing date. We advise you have this discussion with the lender. ____ Seller requests all inspections and contingencies removals in 10 days. Buyer’s agent to notify of escrow extension request at least five days before close of escrow. _____ If you are getting a loan you will most likley need home owners insurance. You may choose to obtain a quote from Tillery family insurance, they have worked with our office and we can provide them with property details quickly. They represent several companies and have been very competive in past pricing. Tillery Insurance 5800 Stanford Ranch Rd. #720 Rocklin, CA 95765 (p) 916-435-5842 (f) 916-435-9779 jason@tilleryinsurance.com www.tilleryinsurance.com