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Getting runaround with Fannie Mae property - they keep countering with asking price?
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
What else can I help you with?
What are the requirements for bidding on a Fannie Mae property?
To bid on a Fannie Mae property, potential buyers typically need to be pre-approved for financing or have proof of funds if purchasing with cash. Bidders must also register with Fannie Mae's online auction platform, HomePath, or work with a licensed real estate agent familiar with the process. Additionally, it's essential to review the property’s listing for specific requirements and conditions related to the bidding process.
What is a Fannie Mae house?
A Fannie Mae house refers to a property that is financed or backed by Fannie Mae, a government-sponsored enterprise in the United States. Fannie Mae provides liquidity to the mortgage market by purchasing loans from lenders, which enables them to offer more mortgages to homebuyers. Properties eligible for Fannie Mae financing typically meet specific criteria, ensuring they align with the agency's guidelines for affordability and creditworthiness. This support helps promote homeownership and stabilize the housing market.
What is the birth name of Fannie Chaney?
Fannie Chaney's birth name is Fannie Lee Roberth.
Does Fannie Mae allow a limited liability company to take title to property?
kind of because sh is not really showing that much potential
What is the nationality of fannie farmer?
Fannie Farmer was American.
What is the Fannie Mae definition of a unit?
Fannie Mae defines a "unit" as a single residential living space within a multifamily property, such as an apartment in a building, a unit in a condominium, or a townhouse. Each unit typically has its own entrance and may include amenities like kitchens and bathrooms, distinguishing it from common areas. This definition is important in the context of mortgage lending and property financing.
When did Fannie Hurst die?
Fannie Hurst died in 1968.
When was Fannie Hurst born?
Fannie Hurst was born in 1889.
When was Fannie Porter born?
Fannie Porter was born in 1873.
When was Fannie Sellins born?
Fannie Sellins was born in 1872.
When was Fannie Farmer born?
Fannie Farmer was born in 1857.
When did Fannie Greenberg die?
Fannie Greenberg died in 2007.
