Zillow Advice: Buying a Foreclosure - Bought a Fannie Mae Foresclosure - Found out house has MAJOR problems http://www.zillow.com/advice-thread/Bought-a-Fannie-Mae-Foresclosure-Found-out-house-has-MAJOR-problems/499559/ Zillow Advice | Zillow Real Estate I am surprised that your ... http://www.zillow.com/advice-thread/Bought-a-Fannie-Mae-Foresclosure-Found-out-house-has-MAJOR-problems/499559/ I am surprised that your buyer agent did not recommend a home inspection.&nbsp; If you had done a home inspection and the structural problem had been found,&nbsp;you would have either asked FannieMae to correct it or walk out of it.<br/><br/>Since FannieMae offers rehab loans, you have nothing to lose by asking your real estate attorney to submit a letter to them.&nbsp; One chance in a million, if you did not do a home inspection, but&nbsp;that is the only thing I can think of. <br/><br/>The best of luck!&nbsp;&nbsp; Wed, 12 Mar 2014 20:01:00 GMT http://www.zillow.com/advice-thread/Bought-a-Fannie-Mae-Foresclosure-Found-out-house-has-MAJOR-problems/499559/ 2014-03-12T20:01:00Z Foreclosure homes are marketed ... http://www.zillow.com/advice-thread/Bought-a-Fannie-Mae-Foresclosure-Found-out-house-has-MAJOR-problems/499559/ Foreclosure homes are marketed as sold as is sales it is important when purchasing a home to do an inspection either on a &nbsp;new home or foreclosed home.&nbsp; Wed, 12 Mar 2014 16:45:00 GMT http://www.zillow.com/advice-thread/Bought-a-Fannie-Mae-Foresclosure-Found-out-house-has-MAJOR-problems/499559/ 2014-03-12T16:45:00Z Alabama is a "buyer beware" ... http://www.zillow.com/advice-thread/Bought-a-Fannie-Mae-Foresclosure-Found-out-house-has-MAJOR-problems/499559/ Alabama is a "buyer beware" state, but&nbsp;health and safety issues are to be disclosed by the seller; however,&nbsp;Fannie Mae sells homes "As Is" and they disclose that they have never been in the house and they know nothing.&nbsp; That was what that 15 page addendum you signed&nbsp;spelled out.<br/><br/>However, I see you are in Mobile. You might want to discuss your situation with your local Congressman.&nbsp; Fannie Mae will do most anything to be fair and to stay out of the news regarding any bad publicity.&nbsp; They seem to do a lot to keep a low profile and to make sure their sales are fair.&nbsp; Programs like the First Look that only allow owner occupant buyers is one example of Fannie Mae trying to be fair (and also control the market). <br/><br/>Several years ago one of my clients here in Baldwin County thought they were treated unfairly in a Fannie Mae multiple offer situation and they complained to Jo Bonner (I think it was).&nbsp;Bonner&nbsp;contacted the higher ups at Fannie Mae and the listing agent received a letter asking for an explanation on it and it ended up that my client got the home and closed a month later.&nbsp;I am not saying that anything was done improperly, just saying you might want to be a squeaky wheel and see if a politician might help you.<br/> Wed, 12 Mar 2014 05:39:00 GMT http://www.zillow.com/advice-thread/Bought-a-Fannie-Mae-Foresclosure-Found-out-house-has-MAJOR-problems/499559/ 2014-03-12T05:39:00Z I always advise my clients ... http://www.zillow.com/advice-thread/Bought-a-Fannie-Mae-Foresclosure-Found-out-house-has-MAJOR-problems/499559/ I always advise my clients of the risk with buying bank owned properties. I highly recommend you bring a plumber and electrician as well as a home inspector. Sat, 29 Jun 2013 05:39:00 GMT http://www.zillow.com/advice-thread/Bought-a-Fannie-Mae-Foresclosure-Found-out-house-has-MAJOR-problems/499559/ 2013-06-29T05:39:00Z Unless the home has a warranty, ... http://www.zillow.com/advice-thread/Bought-a-Fannie-Mae-Foresclosure-Found-out-house-has-MAJOR-problems/499559/ Unless the home has a warranty, once you close, any problems with the home becomes your problem. Fannie Mae homes are sold 'as is' with no guarantees. Buyers are encouraged to have a professional inspection. But even then an inspector can miss potential problems.<br/><br/>You could appeal to Fannie Mae but it's unlikely that you will get redress. Sat, 29 Jun 2013 04:24:00 GMT http://www.zillow.com/advice-thread/Bought-a-Fannie-Mae-Foresclosure-Found-out-house-has-MAJOR-problems/499559/ 2013-06-29T04:24:00Z