Updated about 14 years ago on . Most recent reply
Possible illegal addition on as-is property
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?