Property Q&A in Wilmington>Question Details

Pam Turley-L…, Real Estate Pro in Owings, MD

Can you tell me the extent of the damage to this home? Or please call me at 443-350-3128. Thank you!

Asked by Pam Turley-Lucido, Owings, MD Fri Feb 26, 2010

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Hello, Pam,

The house is owned by FannieMae. You will have to do your own visual inspection and put in an offer. FannieMae is giving an extra 3.5% in closing cost help or to cover the cost of appliances. You can put in an offer and then have your own home inspection done, There is FHA financing available under the 203k program which would value the home at its projected worth AFTER the repairs & updates are done. It could be a good opportunity depending on its present condition and the scope of the work that needs to be done. You will need to show proof of funds and have a lender preapproval in hand at the time you submit an offer to FannieMae. If you have further questions, please don't hesitate to contact me.
0 votes Thank Flag Link Fri Feb 26, 2010

Give me a call if you would like to tour the home.
Web Reference:
0 votes Thank Flag Link Fri Feb 26, 2010
Since this a Fannie Mae property, a sellers disclosure is not required. You may have an inspection done for informational puropses only and the seller is not required to make any repairs. The listing states that it's a Fannie Mea HomePath property and that HomePath financing is not available. If you made an acceptable offer, you would have 10 days from acceptance to have any inspections you wanted done.
0 votes Thank Flag Link Fri Feb 26, 2010
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