Will a Fannie Mae Foreclosure make repairs?
Las Vegas Market? About a couple of weeks ago I asked if a Fannie Mae foreclosure will make repairs. We put an offer in on a house, had it inspected by a licensed inspector, and the air conditioner was not working. I was told that Foreclosures are strictly as is and will never make repairs.Well, that is not true. In some cases they will. The seller of house made the required repair. The air conditioner works and we close in a week. So never say a foreclosed house definitely won't make repairs, I can tell you from first hand experience they will. And from others I have spoken with, both buyers, sellers and professionals, it depends on the market, the house, the type of repair, the amount the seller is losing and the over all selling price vs over all condition of the house. Don't be afraid to look at foreclosures, make sure you have an outstanding Realtor that fully understands the market you are in.Good Luck....
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