Can You Short Sale With Fannie Mae Reo Property?

I just wanted to know if you could short sale Fannie Mae's Property? Any advice. Thanks. smile

Comments(3)

TheShortSalePro6th September, 2003

If you are asking if FNMA would be receptive to a compelling, and comprehensive proposal asking that they consider selling their REO at less than the listed asking price... then yes. If it was fully supported and factual.

This really isn't called a short sale, though.
jorge1216th September, 2003

Once its taken back by the bank or HUD it becomes an REO and you will be negotiating with the lender or the federal government (to the extent you can negotate with HUD) much like you would a private party (with the caveat that HUD will not accept most the contingencies you would normally include in a contract).
So technically its not a short sale just an offer to purchase.

J
blambert20th November, 2003

What percent of discount would Fannie Mae be willing to accept? 85% of the listing price??

Any ideas would be appreciated...

Thanks,

Bill