Fannie Notice Boise, ID

[Wil Andrew]

This is my first post.  I am in Caldwell ID.  I have 4 rentals in my portfolio right now.

I found out about a vacant house in my neighborhood that I literally drive by everyday (It has been vacant for 8-9 months).  When I went to investigate and get a house number it turns out that there was a Fannie Mae notice to the homeowner that the home is now owned by Fannie.  The notice was posted yesterday and has a 10 day window before an agent will list the property (according to the flyer on the door).  As near as I can tell the homeowner purchased the home in 2006 when it was new. 

Every deal i have done to this point has been directly off the MLS and I have zero experience with finding off market deals and not sure what direction to go with this if there even is one.

So to my put a finer point on my question, is there a possibility of pursing this further as the notice said the homeowner may be able to repurchase the home before it is listed.  Would a Quit Claim Deed give me the homeowners rights in the instance?  

Just a guy looking for some direction.

HELP??!?!?!?!?!

[Jonna Weber]

Hi @Wil Andrew - Definitely wouldn't hurt to try to get ahold of the homeowner and get some more info.  Welcome to Bigger Pockets, and congrats on your first post! 

My colleague @Paul Heim has articulated some solid info on the state of how a bank controlled property can work.  

Related to building a network, we are having our quarterly informal meet up next Tuesday night at Café Ole on Milwaukie at 6:30.  Invite goes out to any BP'ers in Boise and the Treasure Valley.   Perhaps we will see you there!