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HomeSteps® 2009 Nationwide SmartBuy Purchase Program
Promotion Dates:
Initial offers received July 17, 2009 - January 31, 2010, with escrow closed by March 26, 2010.
Homebuyers:
Introducing SmartBuy, an exciting nationwide purchase program brought to you by HomeSteps (Freddie Mac). As a potential homebuyer you may be wondering, what makes a HomeSteps home a SmartBuy?
Start with the 2-year, HomeProtect® Home Warranty offered on HomeSteps homes. Add to that, for a limited time, our up to 3.5%* Buyer's Closing Cost offer! And know that HomeSteps homes are priced at fair market value. All add up to a SmartBuy.
As part of the SmartBuy purchase program, HomeSteps is offering:
- Two-year HomeProtect** Home Warranty
- Up to a 3.5%* Buyer's Closing Cost offer (must be submitted upon initial offer)
- HomeProtect** Appliance Discount (up to 30% savings on appliances)
Now, no matter where you live in the United States, owning your own home may be more affordable than you think! If you currently rent or are considering homeownership, now is the time to make a SmartBuy. The HomeSteps SmartBuy purchase program may help you on your way to homeownership, with a little added peace of mind.
Introducing SmartBuy. This home purchase program is brought to you by HomeSteps (Freddie Mac) and helps make your purchase of a HomeSteps home a truly smart buy.
Close on a qualifying HomeSteps® home before March 26, 2010, and receive a two-year HomeProtect® Home Warranty from a respected third party warranty company, up to 3.5% for borrower's closing costs, and a HomeProtect appliance discount of up to 30% on household appliances. Restrictions apply. See the official program Terms and Conditions below and learn how to qualify.
HOMESTEPS® SMARTBUY™ PROGRAM
TERMS AND CONDITIONS
DURATION OF PROGRAM. PROGRAM SPONSOR.
The SmartBuy Program ("Program") begins July 17, 2009. To qualify, all participants must make an initial written purchase offer on a qualifying HomeSteps® home on or before January 31, 2010; and closing must occur no later than midnight on March 26, 2010. The sponsor of the HomeSteps® SmartBuy™ promotion is HomeSteps®, a Freddie Mac® unit (hereafter, the "Sponsor" or "HomeSteps"). The HomeProtect Home Warranty program and Home Protect Home Service Agreement are provided by HomeSure Services, Inc., except in the following states where it is issued by the identified entity: in Alabama, Florida, Illinois, Iowa, Nevada, New Hampshire, New Mexico, New York, North Carolina, Oklahoma, South Carolina, Texas, Utah, Vermont, Washington, Wisconsin and Wyoming, by HomeSure of America, Inc.; in California by HomeSure Protection of California, Inc.; in Arizona and Massachusetts by HomeSure of Arizona, Inc.; and in Virginia and Oregon, by HomeSure of Virginia, Inc. (collectively, these entities shall be referred to as "HomeProtect"). Home warranty repair services are provided by independent trades people/contractors hired by HomeProtect. The HomeProtect Appliance Discount service is provided by Cross Country Home Services, Inc. ("CCHS"). Home appliances are provided by independent appliance manufacturers participating with CCHS in the service.
This Program shall be subject to these official Terms and Conditions, and by entering, all Program Participants agree to be bound by the terms and conditions herein. (As used in these Terms and Conditions, "Participant(s)" and "you" shall have the same meaning.). Void where restricted or prohibited by law.
ELIGIBILITY:
- The HomeSteps SmartBuy Buyer's Closing Cost Offer (hereinafter, and as further described and defined in these Terms and Conditions, the "Closing Cost Offer") is available only to Participants who purchase and close on a qualifying HomeSteps home during the Program. The home may be located anywhere in the United States (including PR, VI and GU)--ask your agent to show you HomeSteps homes in your area. However, to qualify as a Program home, a HomeSteps home must be a single family, owner- occupied, financed dwelling used solely for residential purposes. Auction, sealed bid and bulk sale properties do not qualify for the Closing Cost Offer.
- The HomeProtect Home Warranty is available only to Participants who purchase and close on a qualifying HomeSteps home1 during the Program. The home may be located in any one of the 48 contiguous United States or D.C. (excludes HI, AK, PR, VI & GU). The HomeProtect Home Warranty begins upon your qualifying home purchase closing date and continues for two years from that date (except in Georgia, where it begins upon closing and continues for two consecutive one year terms). The HomeProtect Home Warranty is valid only on HomeSteps homes1 that meet the following criteria:
- Single-family, owner-occupied, dwelling used solely for residential purposes (including condominiums, townhomes, coops, and villas)(certain mobile homes are covered if requirements are met);
- Homes1 purchased or used for commercial or rental purposes are not eligible; second and vacation homes are not eligible;
- Purchase price must be greater than or equal to $25,000;
- Home purchases related to the National Community Stabilization Trust are not eligible for the HomeProtect Home Warranty;
- Properties purchased via auction may be covered by the HomeProtect Home Warranty if all other conditions for coverage are met.
- The HomeProtect Appliance Discount service is available only for homes1 located anywhere in the United States, other than Puerto Rico. You may use this service during the same period of time that your HomeProtect Home Warranty is in effect.
HOW TO PARTICIPATE: Ask your real estate agent to show you HomeSteps homes in your area. To take advantage of the Closing Cost Offer, you must complete and return to your real estate agent a HomeSteps SmartBuy Coupon at the time the initial purchase offer is made on your home. You can find the Closing Cost Offer Coupon online at http://www.homesteps.com/smart_buy.htm#form. Alternatively, you may obtain a Closing Cost Offer Coupon by requesting one from HomeSteps Customer Service at 1-800-972-7555, or via email at HomeSteps_Marketing_Communications@FreddieMac.com. Provide all information required on the Closing Cost Offer Coupon and provide it to your real estate agent at the time of making your initial written offer to purchase a qualifying HomeSteps Program home. Your real estate agent should: (a) present the completed Coupon to the Seller's real estate agent and the Coupon should be attached to the initial offer; and (b) request the HomeProtect Home Warranty and/or HomeProtect Appliance Discount upon submitting your initial offer. Upon qualified closing, your Closing Cost discount will be applied and you will receive a fulfillment kit from HomeProtect detailing all the terms and conditions of your HomeProtect Home Warranty and/or HomeProtect Appliance Discount service (Details can also be found at www.homeprotect.org/termsandconditions.)
DESCRIPTION OF PROGRAM COMPONENTS:
- Closing Cost Offer
Upon qualified closing, HomeSteps will pay up to 3.5% of the purchase price of your home to cover certain closing costs. For purposes of the Program, the following types of actual expenses are deemed "closing costs:" FHA or VA non-allowables, non-recurring closing costs, discount points, loan origination fees, other customary and reasonable lender fees and pre-paid expenses, survey, and appraisal fees. In the event the total of your closing costs are less than the amount of 3.5% of your home's purchase price, then HomeSteps' payment will be limited to the total of such actual closing costs. As an example of your savings, if the purchase price of your home is $150,000, HomeSteps will pay up to $5,250 towards your closing costs. Please note that HomeSteps will only pay up to 3.5% of your purchase price in closing costs, not to exceed the total closing costs. For instance, if your purchase price is $125,000, and your closing costs are $4,250, HomeSteps will only pay $4,250, an amount equal to 3.4% of your purchase price. In any event, HomeSteps will not be obligated to pay any closing costs if you do not pursue and obtain financing for a qualifying home. You will pay all closing costs not covered by HomeSteps.
- HomeProtect Home Warranty
On qualifying homes, the HomeProtect Home Warranty pays covered costs to repair or replace certain mechanical systems, their parts and/or components, made inoperable by mechanical failures due to ordinary wear and tear in your home1. If your systems or appliances are found to have a mechanical failure that is due to a condition that existed prior to the Agreement effective date (closing date), it is possible that part or all of your claim may not be covered. For those cases, Home Protect will provide up to a 15% discount if you choose to use a Home Protect service professional, where available, as well as up to a 30% discount towards the purchase of a brand new appliance. To see the homeowner deductible, certain other potential costs, coverage limitations and scope, see http://www.homeprotect.org/termsandconditions.
This express warranty is made by HomeProtect and is the only express warranty made for a home sold by Sponsor. ANY AND ALL IMPLIED WARRANTIES, INCLUDING THE IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE, ARE LIMITED TO THE DURATION OF THE HOMEPROTECT HOME WARRANTY. No other warranty of any kind is. To the extent allowed by applicable law, Sponsorshall not be liable for any damages relating to loss of use of the products, loss of time, inconvenience or commercial loss, or any other incidental or consequential damages. All warranties are extended only to the original customer. Prior written or oral statements, negotiations, communications or representations regarding warranties have been merged into or superceded by this warranty writing, and if not included in this warranty writing, they shall not be binding. This is the total agreement about any and all warranties relating to the product warranted hereunder.
- HomeProtect Appliance Discount
The HomeProtect Appliance Discount consists of toll-free telephone ordering of home-related appliances in which CCHS acts as your buyer's agent to present you with discount offers, where available, and to execute your appliance order(s).1 When you call a HomeProtect customer care specialist, he or she will help you find what you need at a savings of up to 30% off the manufacturer's suggested retail price. Merchandise that has been installed, customized and/or special ordered is not returnable. For complete details, see http://www.homeprotect.org/termsandconditions.
No substitution, cash substitution, assignment or transfer of any right or benefit under the Program by a Participant is permitted, unless otherwise provided by law.
GENERAL: By participating in the Program, you agree that Sponsor shall not be liable for personal injuries, death, damages, expenses or costs or losses of any kind resulting from participation or inability to participate in the Program or acceptance of or use or inability to use any good or service provided hereunder by any party other than Sponsor, including, without limitation, claims, suits, injuries, losses and damages related to personal injuries, death, damages to or destruction of property, and in each of the foregoing, whether under a theory of contract, tort (including negligence), warranty, false advertising, advertising injury or other theory. Participant releases the Sponsor from any and all liability and responsibility with respect to all claims alleging or based upon any property loss, damages, personal injury or death arising from or relating to the acts or omissions, and the use or inability to use any goods or services provided hereunder by any third party, including real estate brokers/agents, CCHS, HomeProtect, appliance manufacturers/deliverers and independent trades people/contractors. Participant acknowledges the Sponsor has neither made nor is in any manner responsible for any warranty, representation or guarantee, expressed or implied, in fact or in law, related to any goods or services provided hereunder by any third party, including real estate brokers/agents, CCHS, HomeProtect, appliance manufacturers/deliverers or independent trades people/contractors. Sponsor reserves the right to remove homes from the SmartBuy Program, and/or to end any or all aspects of the Program at any time.
The Sponsor, its affiliates, subsidiaries, parent corporation, and advertising and promotional agencies, and all of their officers, directors, shareholders, employees and agents (collectively, "Releasees") are not responsible for: any incorrect or inaccurate Closing Cost Offer Coupon information; human errors; technical malfunctions; failures, omissions, interruptions, deletions or defects of any electronic network; failures or omissions of any third party providing goods or services related to the Program; mail delivery; theft, tampering, destruction, or unauthorized access to or alteration of Closing Cost Offer Coupons; Closing Cost Offer Coupons that are processed late or incorrectly or are incomplete, illegible or lost due to any other reason whatsoever; typographical, printing or other errors; mutilated, misdirected or undelivered paperwork; or any cause or causes beyond the control of Sponsor, or any combination of any of the foregoing. False, fraudulent or deceptive Program entries or acts shall render Participants ineligible. By entering the Program, Participants affirm that they have read and accepted these official Terms and Conditions. The laws of Virginia apply to and govern this Program and any claims must be raised and resolved in the Federal or state courts located in the courts of Virginia, United States.
If for any reason, this Program is not capable of running as planned, or if tampering, unauthorized intervention, actions by Participants, fraud, technical failures, or any other causes, in Sponsor's sole discretion, corrupts or affects the administration, security, fairness, integrity or proper conduct of this Program, Sponsor reserves the right, at its sole discretion, to disqualify any individual implicated in any such action and/or to cancel, terminate, modify, or suspend this Program or any portion thereof.
If any portion of these Terms and Conditions is determined to be invalid or unenforceable, in whole or in part, by operation of law or by public policy, all other conditions and provisions of these Terms and Conditions shall nevertheless remain in full force and effect. These Terms and Conditions constitute the entire agreement between Sponsor and Participant with respect to the subject matter hereof, and supersedes all prior agreements and understandings, oral or written, with respect to the subject matter hereof. Except as provided herein, all other warranties, expressed or implied, are hereby disclaimed, unless prohibited by law.
1 Restrictions and exceptions apply. See http://www.homeprotect.org/termsandconditions.
If the registration form does not generate a PDF of your SmartBuy Buyer's Closing Cost coupon, please send an email to: HomeSteps_Marketing_Communications@FreddieMac.com and we will email you a coupon.
To learn more about this and future HomeSteps offers for Homebuyers and Real Estate agents, click here to request more information.
