After Forclosure Sale - Posted by Veotis

Posted by dewCO on February 09, 2001 at 11:10:27:

If there is no redemption period after the sale in your state, then it’s pretty much a done deal. FNMA pretty much always lists with realtors. Contact the agent and tell them you want to buy it as-is before anyone spends any money on it, do they have a price yet, and see if they actually have the listing yet and can write a contract is what I would do.

After Forclosure Sale - Posted by Veotis

Posted by Veotis on February 09, 2001 at 06:16:20:

I’m presently looking at a house that has already been through the forclosure sale at the courthouse. The loan was with Astoria bank, but it was backed by Fannie Mae. I was told by Astoria that Fannie Mae now has possession of the house and is going to get it ready to sale to the public. I assume they mean that they (Fannie Mae) are going to do some cosmectic work to the house and try to sale it around 78k.

I was wondering if there was a way I could get the house now before anything is done to the house(any fix-up)? I am wanting this house for my personal residence, and I don’t mind doing the work myself. Fannie Mae already has a Realtor lined up to market the house after it is ready. Who would I need to talk to about this? Thank you folks for your time.