Fannie Mae / REO Questions from a Rookie

[Justin A Pratt]

First and foremost, thank you in advance for any advice on this.  I have my eye on a duplex that is currently  owned by Fannie Mae.  I have a couple questions on how this differs from a normal transaction highlighted below.  I appreciate you taking the time to help a rookie build his mini-empire. :)

- Is price flexibility the same as a normal transaction or are is the seller usually more hard/soft on list price

- I would like to move fast with an offer on this once investors offers are opened.  can I begin researching title now before I am officially in negotiations

- Are there any rules of thumb or advice on some of the nuances of buying REO from Fannie?

Happy Investing and Dream Construction

- Justin