|
Real Estate advice-Fannie Mae
Found a house that my wife and I are very interested in, but....a few issues. In light of these issues I have questions.
The house is a foreclosure owned by Fannie Mae, Home Path. Initially sold a few years back for $500K but now at $299.
Initially there were 11 liens on the house, now there are only 2. Attorney is still working on clearing these.
The entire tract is Fannie mae owned, 35 acres, but on the market is the house and 10 acres. Use your imagination on this. the entire tract is rectangular shaped and the portion for sale is sectioned down the middle from front to back of tract. The issue is that one of the property lines cuts right through the center of the house.
The agent is wanting us to make an offer, expresses that there is a lot of interest. Clearly with the liens and how the property lines are drawn, it will never sell as is.
Question : How likely would Fannie Mae change the property lines to accommodate what we want. Instead of 10 acres down the center, section off the first section of the full width that would give me 10 acres? (never dealt with Fannie Mae)
Can we make an offer based on the property lines to meet our satisfaction and leaving that open as to what we want or willl I need to be specific?
Any advice on this is appreciated.
|