fannie mae foreclosure?
I am going to put an offer in on a fannie mae foreclosure. The asking price is 84900 I was going to offer 80000 and ask for a 1500 appliance allowance. My realtor said he is not sure if fannie mae can do the 1500 appliance but that we might just have to ask that they put appliances in. Does anyone know anything about this? What do you think of the offer should we start out higher? Thanks
Depends if you are are competing and how bad you want the place.
Credits are done all the time, you don’t have to specify what it’s for. Usually, the only issue is if it will have any negative impact on your loan. Safe guideline is 3 to 6% of the purchase price and you should be fine.
All lenders care about or government agencies is the net amount to them. You should be fine with your offer if you are not competing.
Good luck!
Brian Laughlin
Comment by blaugh2323 — July 15, 2009 @ 5:48 pm