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Updated about 10 years ago,

User Stats

27
Posts
1
Votes
Russ Swan
  • Investor
  • MALAK, NT
1
Votes |
27
Posts

Fannie Mae and Investors

Russ Swan
  • Investor
  • MALAK, NT
Posted

I'm in the process of making an offer for a Fannie Mae Property. Just received a rather long (17 pages) Addendum to the Purchase Agreement from the realtor.

1. Para 4a requires a declaration whether the property is or is not to be used an occupied as the buyer's primary residence. 
2. There's an Owner Occupant Certification that the realtor is not knowingly submitting the offer for an investor purchaser. There is no YES or NO to that one. And if the realtor doesn't subsequently report it they are liable for a $10,000 fine.
3. They stipulate a 10 day inspection period which overrides my requirement of 15 days.

Can anyone provide comment on this?

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