REO Fmv To Hign
I've been looking at Reo's and most of the time they are marketed around fmv.
There is this one fannie may house I'm looking at that the is like 15,000 over the fmv. The way I came up with fmv is comps on home that have sold in the housing addition, granted the last home sold about a year ago but the house needs about 10,000 in work. I was wondering if the realitor might have it priced hign waiting for it to come down for someone they know. If I were to make a bid for it is there anyway I can let fannie may see how much the houses are going for in that addition? This house looks ok on the outside, but the inside need the 10k in repairs as well as there is a crack in the foundation so I was going to ask for a inspections. Thanks to anyone who answers me. 
That's what I'm seeing on REO's here, too. That, and HUD repo's are priced at FMV, needing MUCH repairs, most of'em.
That's what I'm seeing on REO's here, too. That, and HUD repo's are priced at FMV, needing MUCH repairs, most of'em.
I guess I was also asking if there is anyway of letting Fannie May know (or do you thing they already know) that the home is price way to high.