All Forum Posts by: Mason Carter

I am under the impression that there is no negotiation with these properties. Except if the appraisal comes in lower than the asking price and even then the bank can choose to not accept the deal. When I first looked into this Fannie Mae property it was only available to homeowners not investers. I have since found out that there is a timeframe in which has to expire for it o be open to investors. This timeframe is up in 8 days. So it appears that it has been on the market for a while. 

I would like to be kept in the loop as well for future events.  Looks like I just missed the last one. Thank you for coordinating. 

Hello All,

I am about to pull the trigger on my very first flip, but when I narrowed down the unit I wanted to purchase I found that it is a Fannie Mae HomePath property.  According to my agent this is a governmental program where a property has been "foreclosed" on but no a traditional foreclosure. I also understand that these type of deals can take a long time to close and there is absolutely no negotiation. I'm looking to buy this property in cash and was hoping to have a quick closing. Has anyone had experience with this type of property?  Thank you for your time. 

Thanks Robert. I am able to see the development trends a bit easier, so that helps.  haha... now, if I can just take advantage.

Good day all, my name is Mason Carter and I am in Atlanta, or specifically Smyrna for those familiar with the Atlanta area.  I currently am a commercial real estate appraiser and am looking to pull the trigger on my first flip.  I have been listening to the podcasts for many months and have learned a ton.  I thought I knew things from my line of work, but WOW!  This Bigger Pockets tool has been the driving force and confidence builder I needed to take my first step, which is around the corner now.  Anyway, I just wanted to introduce myself and look forward to conversing and possibly meeting some of you in the future.