All Forum Posts by: Konstance C.

Hi. I recently put an offer accepted on a duplex. It's a HUD home from Fannie Mae and I offered well over asking price. I am funding the deal through a 203k loan. But that was for minor repairs, new floors, upgrading the kitchens and appliances, mostly cosmetic things. Then two days ago, the inspection came back that the duplex had major issues. It needed all new wiring, new HVAC systems, new hot water heaters, etc. I want to ask Fannie Mae to fix the wiring, plumbing, and replace the HVAC and hot water heaters but my realtor said it's a "Hickman" (not sure if that's the correct word) law that says Fannie Mae legally cannot make repairs on the home and further more my counter would piss them off and they will cancel the whole contract and go with other offer. Is this true? What is the Hickman law? Can a seller just void an executed contract during the option period in the mist of negotiations? Has anyone had a bank make repairs on a HUD home before? Thank you for your help. My option period ends in four days.

Hi. I recently put an offer accepted on a duplex. It's a HUD home from Fannie Mae and I offered well over asking price. I am funding the deal through a 203k loan. But that was for minor repairs, new floors, upgrading the kitchens and appliances, mostly cosmetic things. Then two days ago, the inspection came back that the duplex had major issues. It needed all new wiring, new HVAC systems, new hot water heaters, etc. I want to ask Fannie Mae to fix the wiring, plumbing, and replace the HVAC and hot water heaters but my realtor said it's a "Hickman" (not sure if that's the correct word) law that says Fannie Mae legally cannot make repairs on the home and further more my counter would piss them off and they will cancel the whole contract and go with other offer. Is this true? What is the Hickman law? Can a seller just void an executed contract during the option period in the mist of negotiations? Has anyone had a bank make repairs on a HUD home before? Thank you for your help. My option period ends in four days.

Hi everyone,

I am currently looking for a seasoned and motivated realtor in the Mid-cities, Dallas, and North Fort Worth area of Texas. I am looking to buy small multifamily properties such as duplexes, triplexes, and fourplexes under 200k. I am already preapproved. Any suggestions?

Thanks!

Dallas/fort worth Texas - [email protected]

Hi everyone,

I am currently looking for a seasoned and motivated realtor in the Mid-cities and North Fort Worth area of Texas. I am looking to buy small multifamily properties such as duplexes, triplexes, and quadruplexes under 200k. Any suggestions?

Thanks!

Hi BiggerPockets,

My name is Konstance. I am originally from PG County Maryland and I am fairly new to the DFW (Dallas/Fort Worth) area of Texas. I am social worker by trade but I realized early on that this profession wouldn't give me financial independence.

I am in search of a seasoned real estate agent that knows and understands the industry, who has a working knowledge of the numbers and analysis process, and who can assist me in finding a duplex, triplex, or quadruplex. I have an LLC and I am already preapproved. Any recommendations/referrals?

Thanks,

Konstance.