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Updated almost 9 years ago on . Most recent reply

JP Smith's profile image
JP Smith's profile image
JP Smith
  • from Covington, Kentucky
  • Member since Apr 4, 2014
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15
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4
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JP Smith's profile image
JP Smith's profile image
JP Smith
  • from Covington, Kentucky
  • Member since Apr 4, 2014
Connect
JP Smith
  • Covington, KY
4
Votes |
15
Posts
Foreclosures

Fannie Mae 20%

JP Smith
  • Covington, KY
Posted

If I am buying a house for 20K, FNMA says I can't sell it for more than 20% in less than 90 days.  I have a buyer for 25K.  I am going to sell the seller some construction items to be included in the sale.  So, sale price 23,9999, with the sale of construction materials included of 1,001.00.   I am legitimately selling him over 1000 in retail of products to use on the house.  Does anyone have any suggestions or is this above board?

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