Fannie Notice Boise, ID
This is my first post. I am in Caldwell ID. I have 4 rentals in my portfolio right now.
I found out about a vacant house in my neighborhood that I literally drive by everyday (It has been vacant for 8-9 months). When I went to investigate and get a house number it turns out that there was a Fannie Mae notice to the homeowner that the home is now owned by Fannie. The notice was posted yesterday and has a 10 day window before an agent will list the property (according to the flyer on the door). As near as I can tell the homeowner purchased the home in 2006 when it was new.
Every deal i have done to this point has been directly off the MLS and I have zero experience with finding off market deals and not sure what direction to go with this if there even is one.
So to my put a finer point on my question, is there a possibility of pursing this further as the notice said the homeowner may be able to repurchase the home before it is listed. Would a Quit Claim Deed give me the homeowners rights in the instance?
Just a guy looking for some direction.
HELP??!?!?!?!?!
Most Popular Reply
Hi @Wil Andrew - Definitely wouldn't hurt to try to get ahold of the homeowner and get some more info. Welcome to Bigger Pockets, and congrats on your first post!
My colleague @Paul Heim has articulated some solid info on the state of how a bank controlled property can work.
Related to building a network, we are having our quarterly informal meet up next Tuesday night at Café Ole on Milwaukie at 6:30. Invite goes out to any BP'ers in Boise and the Treasure Valley. Perhaps we will see you there!