Are Fannie Mae Foreclosures Safe to Buy?
When purchasing Fannie Mae foreclosures the buyer is purchasing the property AS IS. Sometimes Fannie Mae will make some necessary repairs to get the property in a condition to sell. When purchasing these foreclosures, just as any other home, a home buyer should always have their future purchase inspected. Even when the house appears to be in good condition, such as fresh paint, new carpet, new appliances, or even a new roof, the property should always be inspected. Since the buyer is purchasing the Fannie Mae home AS IS, there is NO warranty or guarantee for any work that may have been done to the property. Home warranty is available, but they are actually home maintenance agreements. You can buy insurance against appliances, heat and air conditioners breaking down. HUD on the other hand, has all its properties inspected, and appraised. These documents are made available to home buyers. Fannie Mae will disclose any possible hazards concerning the property, but they dont go to the exten
