Freddie Mac hopes to lure condo buyers with $1,500 in association dues

Article Courtesy of The Palm Beach Post

By Kimberly Miller

Published August 17, 2011

Federal mortgage giant Freddie Mac is offering $1,500 in homeowners association dues to anyone buying a repossessed condominium from its HomeSteps program.

The program, called “Condo Cash”, is limited to buyers who submit offers between August 15 and Nov. 15, and close the sale on or before Dec. 30. It is also valid only on condominiums that have been on the market for at least 120 days.

A quick search of Freddie Mac’s HomeSteps website found 111 Palm Beach County homes for sale. More than 1,000 were found statewide.

A two-year Home Protect limited home warranty that covers electrical, plumbing, air conditioning, heating and other major systems and appliances if offered on some eligible HomeSteps homes.

Home Protect also provides discounts of up to 30 percent on the purchase of appliances.

Freddie Mac owned condo in Delray Beach for sale with a list price of $12,000