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Updated over 13 years ago on . Most recent reply

Ken Sanders's profile image
Ken Sanders's profile image
Ken Sanders
  • Real Estate Investor
  • from Malvern, Pennsylvania
  • Member since Mar 23, 2011
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User Stats

72
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8
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Ken Sanders's profile image
Ken Sanders's profile image
Ken Sanders
  • Real Estate Investor
  • from Malvern, Pennsylvania
  • Member since Mar 23, 2011
Connect
Ken Sanders
  • Real Estate Investor
  • Malvern, PA
8
Votes |
72
Posts
Foreclosures

Possible illegal addition on as-is property

Ken Sanders
  • Real Estate Investor
  • Malvern, PA
Posted

I'm about to make an offer on an as-is Fannie Mae property that I believe has an illegal addition. I rehab to resell, so I'm wondering if there are any consequences I could suffer from this deal. Will this create a problem for me when I sell and the buyer tries to get a mortgage?

Also, this would be my first REO deal. Should I be running a title search, or is it assumed that REOs are lien-free?

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