Fannie Mae closing issue

2 Replies

I was Highest and best offer on a Fannie Mae property. I included 20k earnest money, all contracts were accepted and signed in Sept, with Closing date scheduled for this past monday, Sept 29

My closing atty notified Fannie's attys the week before closing that they needed to complete paperwork. They never did the paperwork or filed it at the Registry of Deeds.

 Can I get any $$$ from them for their non performance and breach of contract ?  maybe $50-100 day ?  They want a 30 day extension, which I'm reluctant to do, but will do as the house will be a profitable rehab.

Any body had this happen ?

You can cancel the contract and get you EM back. You will not collect a fee from them, sometimes the most difficult deals to close are the most profitable. Why not ask for a price reduction in extension? The beauty of working with the government!

Thanks, I asked, they don't want too,, lol   Its a deal so I'm staying on it. The foreclosure deed just needs to be recorded.  Harmon Law group isn't doing their job, and it seems nobody in the government does any work at all.  lol  The asset manager is "trying" to get them to do it ?? trying?  If I ran that, they would be fired.

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