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Updated over 6 years ago on . Most recent reply

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17
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4
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Gregg Jossie
  • Rental Property Investor
  • Wichita, KS
4
Votes |
17
Posts

Dual agency on Fannie Mae property

Gregg Jossie
  • Rental Property Investor
  • Wichita, KS
Posted

So my wife and I are finally making the leap into RE and are ready to buy our first property. I'm planning on this to be a live-in flip to rent out once we move out. (I say flip, but as far as we can tell, there's not a ton of work to be done. We're mostly hoping to live for super cheap and save for further investments). The house we've found is owned by Fannie Mae, and we've been working mostly with the listing agent so far, but we're ready to make an offer. I'm wondering if the risks of dual agency are mitigated any by the fact that Fannie Mae is the seller, and if we should hire an agent or go ahead and continue to work with the listing agent.

So far, I'm encouraged by her suggesting that we go ahead and low ball an offer to see where Fannie is at, and to also ask them to cover a small electrical repair needed. What is the difference in relationship like between Fannie and their agents versus a private owner? I appreciate any feedback!

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