Anyone have experience with Freddie Mac foreclosures?

Question

Like I mentioned in another post, I want to make an offer on the house..it went to auction and did not sell..freddie mac is telling me all offers have to go through the real estate agent but the agent is telling me i have to wait 30 days..is there not an opportunity somewhere to buy after auction and before listing? Is freddie mac a pain in the ass to deal with?

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:cry:

Jim Gordon · Answer

Freddie Mac is fine. I have sold a few Homesteps properties with not a whole lot of problems. The property is given to an agent even before the auction to do premarketing and yes it will take at least 30 days to be "on the market" sometoimes a lot longer depending on what they are going to do to the property.   
  If it is a carpet and paint job they will do that in getting the property ready for sale.

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How are they are price? Here were some variables:

the owner that lost the house owed 237K..plus late payements fees etc up to 247K

she had the house listed for 6 months at 255K with no bites..her biggest bite was me and that was offering 220 and doing a short sell. we were in that process but ran out of time.

At auction the house didnt sell for the opening bid of 231300...

what are the odds now that freddie mac would take 220 not to have to sit on the house for 6 months?

housing in this area (east side of houston) is pretty stale..the house is on the tax rolls at 220K also. Other houses in the area that were priced 235-255 have not sold and are either now off the market or still there with no buyers...

I guess I am trying to figure out if I am just wasting my time here or if there is a chance to get a good house to live in at a good price?