Will Fannie Mae consider a contingency on selling my home within X days?

Asked by a1tech, Philadelphia, PA Fri Jun 21, 2013

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5
Fred Herman, Agent, Staten Island, NY
Thu Jun 27, 2013
No. I haven't seen any REO's accept a contingency.
0 votes
Bradley Arno…, Agent, Milan, TN
Thu Jun 27, 2013
Although I am not a Fannie Mae Listing Broker, I would speculate that the answer is "NO"
I have never seen or dealt with an example where an REO company accepted an offer with a contingency to sell another home attached to it.
I have been involved in several REO transactions.
0 votes
James Pinson, Agent, Oak Lawn, IL
Fri Jun 21, 2013
I agree with both answers.....HIGHLY UNLIKELY. The addendum you need to sign should state that fact. However, Tony has a point. If this property has been unsold for several months they may accept. Hey....all you can do is try. Submit an offer and see if it flies.
0 votes
, ,
Fri Jun 21, 2013
I have never seen Fannie Mae or any other REO seller accept a sales contract with such a contingency. The only acceptable contingency would be for appraisal or financing. REO sellers expect to close in 30-45 days on average.
0 votes
Tony Neihoff, Agent, Jackson, TN
Fri Jun 21, 2013
Not likley...but it will depend on the property and the demand for it.
0 votes
I haven't seen one either. They want a solid offer they can count on to close.
Flag Mon Oct 28, 2013
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