Buying REO PROPERTY

[Francisco Ycaza]

Hello Forum,

I am interested in buying an REO in Pa and I noticed a buyer bought a Fannie Mae property for 42k and listing Price was 85k, 43k difference . My question is why such a big difference in sell price and property was only listed for 1 month?

I have heard banks typically list at FMV and will not sell for 10% below price . New buyer Rehab property and is listed above 150k currently , property is in a very good neighborhood as well . I was thinking either buyer has a very good realtor or Fannie wanted off it's books ? This has me a bit confused on making the right offer on a REO there , any feed back is welcome .

Thanks,

Francisco