HomePath homes can often be great deals. Fannie Mae allows potential homeowners who plan on living in the house as their primary residence the first opportunity to buy. Usually Homepath homes have to be on the market for three days before any offers will be considered.
HomePath homes won't be open to non owner occupied buyers until the home has been on the market for at least 15 days. That means investors don't really have a shot at them. The reason Fannie Mae does this is because they are trying to stabilize the market by getting buyers who plan on occupying the home and not to rent out as an investment property.
If you're considering making an offer on a HomePath home start with your highest and best offer. It may be your only chance on getting that home. There are more often than not multiple offers on HomePath homes.
When you're ready for help in purchasing your HomePath home experience matters. Make sure you hire a Realtor who knows the ins and outs of buying a HomePath house.