Profile picture for Lee D

I put in an offer on a Fannie Mae foreclosure, no response yet. How long does it usually take?

I put in an offer on Friday, 6/15/12.  Today is 6/27 and still no response.  The listing shows a "TEMPOFF" status for over a week, but this is extremely frustrating!  Is it unusual for it to take over a week and a half?
  • June 27 2012 - Gambrills
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Answers (3)

If status shows "TEMP OFF", it means that it is "off the market, temporarily". I advice you to talk to the Realtor® that you worked with on that particular offer.
  • June 27 2012
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Usually when a Fannie Mae or Freddie Mac foreclosure is listed as "TEMPORARILY OFF MARKET" the home requires a repair such as mold, plumbing, electrical, structural, etc.  These types of repairs present unsafe conditions for anyone walking into the home. These repairs also require repair crews to work without the interference of others walking around the work area(s).

The actual foreclosure process may also be under review by request from the previous home owner. Contact your agent to get an answer from the listing agent. The listing agent has obviously been instructed to take the home off the market as an available sale by the asset manager assigned to process the home for Fannie Mae.
  • June 27 2012
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Profile picture for RJ Dean
This can mean multiple things. It could have been a discovered repair that needed to be completed or it could also mean that there may have been past due liens or title issues that may have needed to be taken care of. There are many possibilities but as a Fannie Mae listing agent I will tell you that sometimes even we are kept in the dark about the issues.
  • June 27 2012
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