Thursday, August 4, 2011
Buying a Fannie Mae home that has been vandalized?
I'm currently looking to possibly purchase a Fannie Mae home that has recently been vandalized. Before the vandalism took place the home was priced at $122900. How much would that decrease the value of the house? The Real Estate agent is having the damage $ figured by a plumber. I asked about a carpenter to replace the wall/ceiling where it had also been damaged during the vandalism. He said it was possible. How much (in %) of a list price should I be offering on a Fannie Mae home like this? I realize that a Fannie Mae home is often "as is where is" but there are certain concessions that can be made. However I also have to replace the old carpeting with new flooring, reface kitchen cabinets and counters, tub & tile too and buy appliances (which it does not have). I want to come in with a final and best offer with the request that the house be repaired to its previous state (before the vandalism took place). I really like the house but am greatly dissapointed where Fannie Mae only keeps countering back to each counter I have $2000 lower. I have already gotten them to drop $10,000 with counters and with time passing. It's frustrating!! And now with the vandalism just occuring it's just added to my frustration! No one else has bidded on the house. You would think they'd want to get it off their hands to keep from further vandals. The home is 4 br 2 ba, finished basement, inground pool, and 2 car garage. Thanks!
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