Posted by Carol on March 31, 1999 at 06:39:34:
In our area, the Fanniemae properties are listed with local RE brokers. We handled our deal via the broker, made aggressive offers. The nice thing about “Ms Mae” is that she does not have her emotions tied up in the old homestead! Their concern was that we go ahead and close reasonably quickly.
How are the properties handled in your area?
Carol
Fannie Mae property - pls help - Posted by Tim Kimball
Posted by Tim Kimball on March 30, 1999 at 18:16:58:
I found a property owned by Fannie Mae. In the last month to month-and-a-half it went from $76.5k to $57.9k. The property sold about 3.5 yrs ago for $80k. The neighborhood is going thru a renewal. My house, which is one block away, went from $86k to $112k in the same time period. I want to do a quick flip with this property but, I don’t know how to deal with Fannie Mae. My plan is to do a simultaneous close w/ seller financing and sell the note to finance the purchase. How can I tie up the property so I have time to pull this off? I see a profit potential of $10k-$15k. Any suggestions?