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Mariette Gagne, Residential and Inn Broker in Hickory, NC. (MarketPlace Realty, Inc.)

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I asked the question "Has anyone had a good experience with Fannie Mae".

Let me explain why I asked the question. I was the selling agent representing the buyer for a foreclosed home by Fannie Mae. All forms were completed according to their guidelines, appraisal and all inspections completed, due diligence request for repairs was sent and Fannie Mae's agent confirmed in an email they would proceed with the repairs and also sent copy of the order to have the repairs done. Some repairs were requested by the appraiser. They don't usually do repairs but in this case through their agent they agreed to do the repairs. A few days before closing, I received a phone call from the listing agent requesting more money for the home. He said Fannie Mae was changing the terms of the contract and wanted more money for the home. The important repair was the HVAC which was not functioning and they agreed to replace it. Everyone knows that if there is no heat source, there is no loan. Be aware of Fannie Mae's practices.

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Rainmaker
784,786

The Woodland Team of Texas

The Woodland Companies - Austin, TX

Land Specialists

Foreclosures are tough to deal with, and we dont deal with them unless we are buying for our company.

Dec 09, 2018 02:28 AM

1

Bob Crane

Stevens Point, WI

Ambassador
6,418,182

Bob Crane

Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI

Forestland Experts! 715-204-9671

We deal with them, seldom is "good experience" part of the deal.

Jun 13, 2018 11:02 PM

1

Bob Crane

Stevens Point, WI

Rainmaker
534,547

Robert Havana

Park and Protect- Alberta Real Estate License Parking - Calgary, AB

Alberta Real Estate License Parking

just looking at some of the older questions and answers and seen lots that didnt get any replies, not sure why this one got missed.

Jun 08, 2016 04:08 PM

Rainer
45,957

Andy Madrid

Hawaii Coast Realty, LLC - Kailua-Kona, HI

Expertise, Professionalism, and Service

I ahve only had positive experiences with Fannie Mae. They generally wont do any repairs unless called for by an appraiser but I have never had them come back and demand more money for a property. You have contract, it sounds to me like they dont have a leg to stand on.

Aug 28, 2015 05:38 AM

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