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Anyone buy a lender owned fannie mae property?
We recently made an offer on a lender owned property. After multiple counter offers, everyone agreed to a price.
Here's the thing... in our initial offer, we asked for a one year home warranty and all the appliances included (stove, dishwasher, microwave and fridge). After the first round of counter offers, the listing agent asked us to just reply via emails and not fill out revised purchase agreements with each counter offer. But, each time, he stated that all previous terms & conditions remained the same.
Now that we've agreed to everything, they have revised the purchase agreement and are not including a fridge or the home warranty.
Can they do that? Can they just revise it? If we push back too much, we may lose this house. But, we need the fridge! There isn't a washer and dryer either and we don't have money to buy all 3 appliances right away.
Thanks in advance!
Re: Anyone buy a lender owned fannie mae property?
I am not sure about your situation, simply because it really does depend on what was signed, etc. FWIW, refrigerators and w/d are rarely included in sales in our area. Only "built in" appliances are included as "appliances included."
However, I am going to put this out there. If you cannot afford 3 appliances from your emergency fund/savings, then perhaps you aren't in a financial situation to purchase a home at this time. We recently purchased a new side by side refrigerator at a scratch/dent for our rental home for about $300. New ones can be found for as little as $600. A w/d set can be found for around $1000. These are the basic models, but for less than $2000 you can purchase these appliances if need be.
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Sure, they can do that. It sucks, but when you go back and forth like that (especially via phone or email), things can change by the time you get to anything official. We purchased the same type of property and had a verbal agreement on an even number (ex: 350k) and the written agreement came back $900 higher. You can always purchase your own home warranty. Ours is only $355 for a year.
I'll jump on this too - if you can't afford 3 appliances, you might want to think twice about purchasing a home. As PP mentioned, there are also plenty of ways to purchase appliances at a lower cost. If you have a store credit card from Lowe's, Home Depot, etc. they usually have an 12 month, or longer, no-interest promotion going.