Asbestos in a Fannie property

[John McAuley]

Hello,

We are under contract for a Fannie property that we plan to use as a rental.  The inspection revealed both intact and particularized asbestos underneath the house and in the closet which houses the old/decommissioned furnace.  We plan to put a deadbolt on the closet with the old furnace to prevent renter access to it, and part of our exit strategy was to actually turn that room into a new laundry room when we sell it and get the washer/dryer out of the kitchen area (it is a fairly large closet).  My question is does Fannie have any responsibility to take care of the asbestos prior to sale?  The house of course is being sold as is but for an environmental hazard, I didn't know if there were specific rules around that.  Should I ask them to perform the removal or ask for an amended contract?  Would they do that?  Because of the deal, I am willing to take some of it on myself long term, but wanted to get thoughts on whether you thought Fannie would/should help in this situation.  Thanks.

John