What Are The Details of the Fannie Mae Deed Restriction?
If you are placing an offer on a Fannie Mae forelcosure, in order to receive an acceptance of your offer, you will be required to accept some special restrictions. These restrictions are added to the Deed you will receive at closing, making it impossible to ignore and subsequently are called the Fannie Mae Deed Restriction.The exact language used on this deed restriction is as follows:Buyer cannot sell/encumber property for more than 120% of purchase price for a period of 3 months from the date of close.
