Thread: Lost Fannie Mae Bid to cash offer

If the home inspection finds problems the buyer doesn't want to work with then it could fall through. The problem for you is if this happens then your FHA loan won't work. FHA doesn't like fixer uppers.

yes we were told FHA does not like fixers. they like nice new move in houses. this house needed more cosmeyic then anything. but time will tell. i got my fingers crossed.

Don't lose hope. there are still other chances in the next transactions.

I won't I think they have 10 days to get all the inspections in. So maybe by the end of next week. Also we are in NEPA and apparently these people live in NY. own the property across the street. As I understand they would come down on weekends to use their other property. Apparently on weekends when they were here the people across the street at the House we just Lost were very loud, Parties and such. So it was explaint to me this is the reason they bought the property.
Wish I had Cash just to by the house across from me because it is too noisy on weekends.
I hope that during this process they maybe realize this is frivolous.

During the first 2 weeks of a fannie foreclosure offers are usually restricted to owner occupants. If these people are only using it on the weekends then they are not occupants.

Has the house been for sale longer than 2 weeks?

yes it was beyond the 1st look Fannie Mae offers. just wish we had moved on it quicker. we saw the listing when it 1st came up. but thought it was to far away. I then after viewing another house with in 15 miles of it decided to do a drive by and found it was much closer then original thought. and thus the process began. so now I know next time a see a forclouser that I want to move much faster.

Still have my hopes that it falls through. I that if it falls through I'd hear in the next 2 weeks.

Not sure what the buyers intentions are but to have 2 weekend houses across the street from each other seems much.