I had the pleasure last week to write an offer on a Fannie Mae property in the Huntington Forest subdivision of South charlotte. In the last 12 months, I’ve been a part of at least 12 distressed property closings either on the list or sale side of the deal, however, this is my first Fannie Mae Transaction. To this point, it has been an unbelievably easy transaction. Here it is:
1) We viewed the property and comparable properties
2) We ran a comparative market analysis for past 12 months in the neighborhood.
3) We drew up the offer and submitted as good homes Sale Quick!
4) In less than 24 hrs, Fannie Mae countered and we accepted….WOW!
I’m used to these transactions dragging on for days before the banks respond and usually by the time the bank responds, you find yourself in a multiple offer situation! Fannie Mae made necessary repairs before the home hit the market and I don’t see much of a chance of this thing falling through as the communication is Top Notch. I’ll let you know how it goes as we are scheduled to close by 6/11/2011.
Bryant Stadler, ePRO Realtor
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