Home Buying in 28906>Question Details

Lesco, Other/Just Looking in Murphy, NC

freddie mac contract has a date to get back to asset manager

Asked by Lesco, Murphy, NC Thu May 23, 2013

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Larry Tollen’s answer
Not sure exactly what you're asking, but it sounds as if you've made an offer and the Seller (Freddie Mac) has countered and given you a date to accept their offer.

You really should be working with an experienced buyer broker. You may not know it but buying foreclosures is extremely risky, their hardly ever the deal a buyer thinks they are. I've attached a link below to an article I wrote specifically about foreclosures. I have helped many dozens of buyers purchase foreclosure properties over the years, however despite my buying, selling, flipping homes for over thirty years. I have never bought a foreclosure for myself and I'm in the business.

Get yourself some help before you find yourself in over your head.
1 vote Thank Flag Link Fri May 24, 2013
Thank you for your help, yes this process with Freddie Mac has been awful. 1st it wasn't a fabulous deal as we all have heard about a forclosure being a deal. We have put in 7 offers finally they accepted our offer after 180 days on the market and then they came back and said there was another offer give your "final and best" Okay our agent sent us the papers and one of the paragraphs was marked primary residence which wasn't correct so we sent it back and waited a week. Then our lawyer was out of town to look over the revised contract (the new paperwork came in on Thursday @4:00 then we asked for a termite letter which they were locating and it came in on Friday. We sent all the new signed information on Tuesday. (this would be a signed contract, cash sale, escrow had already been sent and cashed and now the (asset manager) says he is cancelling and putting property back on the market. We receive a call give your final and best. Our final and best is the contract they are holding,
Flag Fri May 24, 2013
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