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Jim,I typically see multiple offers on Fannie Mae properties, which could make negotiating difficult if you are a financed buyer, or even worse, a FHA financed buyer. Almost all REO sellers are looking for cash buyers. Fannie requires properties to be on the market for 13 days before accepting offers from Investors, so that could allow you enough time to negotiate a deal.Remember, they know the value, so it's unlikely they will negotiate much below list price if the property is livable and in pretty clean condition.If the property requires substantial renovations or repairs, it may already be factored into the price, if not, you definitely have some amunition for a lower price.Your motivation to purchase that particular property should also be taken into consideration. If the home is in a great location, perfect for your family, and offers things that other homes may not, then the value to you may be higher than it would to someone else.Negotiate like you would any other purchase. If you don't feel the value is there and your offer is not accepted, move on.Good luck, your agent should be guiding you. If you have any questions, feel free to contact me.Craig Fialkowski GRI,CDPERealty Elite - Boynton Beach
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