Fannie Mae Shadow Inventory... My buyer wants to buy one of them. HELP

Real Estate Agent with RE/MAX Town & Country

I am finding vacant properties all over the place that are not listed as of yet. I have a buyer that wants to make an offer on a Fannie Mae property that is just sitting there. Does anyone have any idea who I would contact, or is it a lost cause? I want to help my client. This is not the first time it has happened and it would be great to find a way to make this client happy and to help others as well. Any advise would be appreciated.

Comments (7)

Phil Leng
Retired - Kirkland, WA
Phil Leng - Retired

Hi Sandra,

Before I broke into being a listing agent for banks, and mostly for FNMA, I thought it would be a great idea to make offers on vacant properties.

It never worked.

There is a process each property goes through. Once it has been assigned to an agent, and the prelisting tasks are completed, then, and only then is it possible to make an offer.

If you find out anything diferent I would love to know...


Jul 03, 2011 06:19 PM
Pamela Seley
West Coast Realty Division - Murrieta, CA
Residential Real Estate Agent serving SW RivCo CA

Sandra, I don't know about GA but in CA investors are buying homes at trustee sales. The banks are lowering the reserves and investors are getting some great deals in CA.

Jul 03, 2011 06:21 PM
Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

No I do not know but let me know if someone gives you the answer.

Jul 03, 2011 06:47 PM
David Shamansky
US Mortgages - David Shamansky - Highlands Ranch, CO
Creative, Aggressive & 560 FICO - OK, Colorado Mtg

Hi Sandra Phil is right. Regardless of the foolishness it still has to go through the process and if your client cant or doesnt want to wait you need to put effort into ones listed as this is a nightmare path that leads to a dead end.

Jul 03, 2011 07:07 PM
Doug Bullwinkel
Envoy Mortgage,NMLS ID 6666 - Sacramento, CA
Mortgage Loan Originator NMLS #281609

There should be a better system in place but I haven't heard of anything yet.  The banks just don't care because it's not their money.  They'll just put in for another taxpayer bailout after they lose enough.

Jul 03, 2011 07:12 PM
Paddy Deighan MBA JD PhD - Vail, CO
Paddy Deighan J.D. Ph.D

I have looked at the Fannie Mae and Freddie mac websites and fins it almost humorous what few homes there are on the sites. In many areas, there are non listed

Jul 03, 2011 07:18 PM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

I had tried to do this very thing with a property that was going to sale, but the bank never answered.   Lots of time wasted on that one!

Mar 31, 2012 11:41 PM