Federal Loans and Mortgages

Getting runaround with Fannie Mae property - they keep countering with asking price?

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Wiki User
2008-08-27 12:35:24

What is the name of your state? Michigan

I have been trying to buy my first home for just over a year.

Its hard not to look right now since I have no debt, a decent job,

and decent credit. I have this property in my radar that has a

worthless <700 sq ft house on about 5 acres. Their asking price

was 126k and I offered 100k. They counter with 117k and then a few

days later they drop the ASKING price to 117k. I counter them back

with 102k and they counter back with 117k again. They won't budge

on me asking under 13% from their asking price.

What is wrong with this picture? Why are they playing games like

this? My realtor's son got rejected for offering 75k CASH for a 80k

asking price Fannie Mae owned property a month ago. Are these folks

INSANE??

The housing market here is still falling down into hell and

won't be bottoming out for a while. Is there any way I can contact

Fannie Mae directly - to a human - instead of dealing with their

contracted local selling realtor? This guy doesn't care about crap.

Dime a dozen attitude and is full of BS.

I lost a house last year after 6 mos. of screwing around because

of the bank's seller contractor kept giving us the runaround. I

walked away and my buddy bought it after hiring a $175/hr lawyer

who put two hours work into it and called the bank directly and

ONLY dealt with the bank.

Can I do this with Fannie Mae?

******** Update - They must have read this - they accepted my

offer this morning but of course with some stipulations that I use

ExpressPath

Also posted here:

http://lawvolunteers.com/law/290/138290-getting-runaround-with-fannie-mae.html


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