Hi all. Madequate offer on a Fannie May home pathis REO. Richmond, CA which is a reasonable blue collar older suburb of SF/Oakland. A pretty solid market.
Was just reduced from 479k to 429,900. OK lendable condition except no stove and furnace nother working. So makes conventional financing tough.
Wrote 415k cash.
Anyone with recent insight into how willing to negotiate Fannie May is these days? Asset managers have motivation to lock an offer within a few percent of asking?
They took it back for about 375k in Sept 2016. Not sure why they waited to list till now.
you made a strong bid and they do counter offer All depends on demand and in this case it appears you should have a good chance of success Good Luck!!