First, get yourself a lieenscd real estate agent to represent you in this transaction. The listing agent (the one whose name is on the For Sale sign) is representing Freddie Mac. Freddie Mac will pay the commission to your agent.Have your agent do a comparable market analysis of this house vs. other neighborhood houses that have sold recently, or have pending sales. Your agent can make adjustments to the comparable properties to make them equal to the house you want. This will help you determine what the house is probably worth.Freddie Mac generally tries to price the properties at market value. With so many houses on the market, and the bail-out program, they may more flexible than before. Just depends on your market.Also, repairs are usually done to Freddie Mac properties before putting a house on the market. So, what you see is what you get. If you notice, or your inspection report turns up, big ticket repair items, I have found Freddie Mac to be fairly reasonable.You don't get a termination option period, but you do get an inspection period. If your inspection turns up something that is a big deal, it will usually get repaired. If not, they are usually okay w/your termination of contract and refund of your earnest money.Freddie has certain rules that must be followed. For example, you must submit a pre-qualification letter from a recognized lender. Freddie Mac will only credit up to 3% for closing costs (including the cost of a residential service contract, if you want one). Freddie Mac pays for the Owner's Title Insurance Policy (at least in TX where it is common for the seller to provide this to the buyer). You must use the title company/attorney/closer that they require.Good luck. Was this answer helpful?