Home Selling in 30349>Question Details

Nikki, Other/Just Looking in Los Angeles, CA

I have a contract to purchase a fannie mae home. It had a time of essence clause to close by Nov 6, or I would be charged $100 per day. Fannie Mae

Asked by Nikki, Los Angeles, CA Mon Nov 16, 2009

need to complete termite repairs prior to closing and did not even begin repairs until Novmber 11 and are not having all repairs ompleted by the termite company but instead another contractor. The work has been started but is very slow. I still do not have a date to close and they are taking their time, while I have completed my part of the contract. What can I do to have them complete the work in a workman like manner so we can close escrow.

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5
Who is advising you, Nikki?

If you are trying to do this from LA, then who is your agent(s) in Georgia?

I don't understand your reasons for not closing, but somebody here in Georgia should be your fiduciary on this.

Not us Trulia Voices.

Government does not move very efficiently - most government is broken right now, so find some peace, bear with "the system" and rely upon your talented fiduciaries in Georgia for salient advice and duly diligent troubleshooting...
Web Reference: http://intowninsider.com/
1 vote Thank Flag Link Mon Nov 16, 2009
Thanks fo listening. Great advice. I agree they "suck", I will never go through this process the same way again. I would also warn anyone out there to stay away from the Fannie Mae homes if you would like to avoid any hassle or surprises. but let's see.
0 votes Thank Flag Link Tue Nov 17, 2009
Your money is welcome in ATL, Nikki.

We promise less hassle...

I hope that you get a good result in the end, but hope is not a strategy.

Just release yourself from attachment to the outcome - don't y'all have that figured out in California yet?
0 votes Thank Flag Link Tue Nov 17, 2009
Did you complete the FNMA Amendment? If not, you should ask your agent about doing so just to cover yourself, although when dealing with FNMA I don't know that it really matters. Remember, FNMA is a federally chartered (pseudo governmental) organization and it works just like any governmental agency. They do what they want, when they want and how they want. Regardless of what the FNMA addendum or your underlying contract states, FNMA will do things their way. They recognize you're not going to sue them. There is truly nothing you can do to force them to act in a timely manner so sit back and relax and realize this is how our government works.

PS. FNMA is so backward and slow in their administration of a contract that I no longer bid on these homes myself and will strongly encourage my clients to not consider a FNMA owned home for their purchase. I just don't need the aggravation.
Web Reference: http://www.phgbrokers.com
0 votes Thank Flag Link Tue Nov 17, 2009
oops the purchase is in LA
0 votes Thank Flag Link Mon Nov 16, 2009
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