Robert O'hara, Real Estate Pro in ,

I am interested in making an offer on a property in Illinois. Fanniemae owns the property. The foreclosure is listed for 100,000. My top offer is 65.

Asked by Robert O'hara, , Sat Oct 1, 2011

Do you think fanniemae will accept it. Is it worth going forth with that offer or am I wasting my time?

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Jack Lewitz’s answer
I list Fannie mae properties and can assist you on your purchase. I know the process and what it takes to buy a Fannie mae owned property. First are you going to owner occupy or are you investor? First look is the first 13 days a property goes on the marker and is given to owner occupants only.

Would be glad to discuss with you.
0 votes Thank Flag Link Sun Nov 6, 2011
If nobody else makes a higher offer, the seller may consider yours. Foreclosure prices are often at or very close to what the seller (bank) will accept.
0 votes Thank Flag Link Sat Oct 1, 2011
You will never know by asking anyone except for the seller. It shouldn't take much time to submit your offer so why not give it a try? The worst thing that will happen is that they say no. Good luck!
0 votes Thank Flag Link Sat Oct 1, 2011
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