- Not enactedThe President has not signed this bill
- The senate has not voted
- The house has not voted
Committee on Financial ServicesIntroducedFebruary 3rd, 2010
- house Committees
Bill DetailsOfficial information provided by the Congressional Research Service. Learn more or make a suggestion.
The Congressional Research Service writes summaries for most legislation. These summaries are listed here. Countable will update some legislation with a revised summary, title or other key elements.
First Look for Primary Residence Act of 2010
To require Federal agencies and certain government-sponsored enterprises to reserve residential real estate owned for purchase by owner-occupants and other buyers using public funds for a period of at least 15 days.
First Look for Primary Residence Act of 2010 - Requires the Department of Housing and Urban Development (HUD), the Department of Veterans Affairs (VA), the Department of Agriculture (USDA), the Federal National Mortgage Association (Fannie Mae), and the Federal Home Loan Mortgage Corporation (Freddie Mac) (covered entities) to make certain single-family housing properties they own available for purchase, for a period of at least 15 days, only by a preferred purchaser. Defines preferred purchaser as: (1) an individual or family who indicates that upon purchase it will occupy the property as the principal residence for at least 90 days; or (2) a state or local governmental agency or other entity that purchases the property using funds made available through one or more specified housing programs. Prohibits the covered entities, during such period, from soliciting, receiving, considering, negotiating, or accepting any offer to purchase any such property except from a preferred purchaser. Requires the covered entities to notify real estate brokers and other interested parties in writing of such purchase availability.