Best strategy for Fannie Mae REO offer

[Kelly G.]

Greetings BP

I came across a Fannie Mae REO just by chance. I would really like to acquire this house but am really new to this and would love your advice on how best to proceed.

Some caveats:  I do not live in the state but have long considered moving there;    I do not currently own a home (living on the road in my 3rd mid-life crisis!);  home would be owner-occupied (at least for 6 months - maybe permanently).

1) should I get my own agent - or just use the FM listing agent?  

2)  The current listing price is $125k;  for a 2/2 on 6 acres.  This is a STEAL!  Unless the house has serious issues.  How much does FM have to disclose re: the property? 

3) the house is in a 'non-disclosure' state (my term for: not required to disclose RE sales);  so doing 'comps' online seems questionable

4) IF the house actually sells for anything near $125k - $150k?? - I could pay cash - assuming this would improve my chances at best offer.  Advice?  Yes, this would somewhat stress my finances, but figure I would get a mortgage later.  Should I offer a cash deal?

I'm sure I will think of other questions - but this is a good start.

thanks in advance

Kelly