Reasonable Timeframe for an Offer for Fannie Mea Property?

[Angie Williams]

My background: I'm 34 yrs old, started out as an RE agent in 2005. I love and have such a passion for real estate and every single component within the business. But, being a RE agent wasn't exactly for me. I would never regret a day that I became an agent because it was the beginning to a learning experience I would have not had other wise. I went from being an agent to teaching children with autism for 11 years and all my free time In between teaching went to researching all aspects of RE. I took a big risk and resigned 2 1/2 yrs ago to follow my passion and opened my own RE investment company. I invested in properties in 3 out of the 5 boroughs in NY leading me all the way to investing in the Philly market. Now cut to Only 5 days ago, I had started to explore upstate NY for awhile now to widen my rental portfolio, I mostly flipped in the past and kept only 4 rentals. The only time I ever used an agent was to sell only two of my properties. I do all of the footwork myself. Last week I find what I believe to be "a steal" in this specific area I'm interested in. I call the agent send my intent to purchase, bank statements, articles of org, etc. Everything she requested from me. No response not even a conformation email from her. So, naturally my anxiety starts to turn to frustration. I emailed her today a long (not rude) but stern email for her lack of responses. She emails me back one sentence "Preparing contracts for you to sign before I can submit" THATS ALL! Please can someone make sense of this for me. I never purchased a Fannie Mea to property and never had an agent have to write up contracts in order to submit an offer. I have waited 5 days for "ME" to have to contact her to get some sort of barring as to where my offer stands. I did some research and most of what I read said FM is fairly quick with a counter offer, accepted offer, or denial. Sorry for the rant but as an investor most of us know that timing is crucial and my anxiety waiting for a response is even more crucial to my health, it's beyond frustrating for me lol. Thanks in advance!

[Greg H.]

FNMA will not even consider your offer unless it is in writing on a star approved contract along with their 12 page or so addendum and proof of funds. There are no exceptions to their policy