fannie mae won't counter my offer?

Asked by Nanaofzb, Haverhill, MA Sun Nov 8, 2009

I made an offer on a fannie mae foreclosed property they countered back I countered again and they didn't counter back anyone know why not

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Ken Lambert, , Exeter, NH
Sun Nov 8, 2009
Hello Nana- I'm fairly surprised they even came back with a counteroffer in the first place. You cannot haggle in the same fashion as a normal (private) seller.

Is the property in liveable condition, currently? Did Fannie allow you to list a home inspection contingency?

If I can be of any help with financing or anything else, please let me know. Thanks and good luck,
Ken L
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Joan McMahon, Agent, Venice, FL
Sun Nov 8, 2009
Dealing with Fannie mae or a bank is not the same as negotiating with a seller. It is likely they have several offers on the table and are only considering the bottom line. In this situation, it is not uncommon for the final sales price to be more than the original asking price. So do your homework and determine just value, if their counter offer was a fair one jump in a become a homeowner.
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