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I am looking at a Fannie Mae owned home.

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They are asking $275,000 for it but the county records show that have only about $200,000 into it. Does what Fannie Mae have into the property affect how willing they are to negotiate on price?

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October 27 - US

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Kathleen McKinney, "Kathy McKinney"
Contributions: 102

Kathleen McKinney, "Kathy McKinney"

Real Estate Agent

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Fannie Mae can sell it just like any seller and make a profit.

Interesting though is that Fannie Mae is offering mortgage financing on some of their foreclosed properties for sale and no appraisal fee and no mortgage insurance.

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October 29

Dennis Ganser, "Dennis Ganser"
Contributions: 24

Dennis Ganser, "Dennis Ganser"

Real Estate Agent

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Fannie Mae is like any other bank, or any seller for that matter. They want to get the best possible price, the most quickly. Your best answer is to find out the price of comparable properties that have recently sold in the area of the property you are looking at.. Once you have a good feel for the value of the homes do what buyers do and make an offer that you feel is a good value for you. You may find that Fannie Mae will put more emphasis on a quick sale than on a sale for the highest price. Or the other way around.
Most importantly, find a reputable Realtor who knows the area and can guide you through the ins and outs of your local market.

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October 27

Josie Morrison, "jomorrison"
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Josie Morrison, "jomorrison"

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Hi,
I have sold & closed on homes that were in pre-foreclosure that had Fannie Mae loans on them. Since the house has already been foreclosed on it should be a much faster process if you get your offer accepted. Regardless of what Fannie Mae has into the home it is only worth what a buyer is willing to pay. It the market will bear a 250 offer or less on the home, that should be in the accpetance zone of what they are looking for. You really need to know what similar homes in the area are selling for.

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October 27

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