I purchased a Fannie Mae REO home in 2008 with Results Realty as the listing broker. A Request for Repairs was added to the purchase contract and my real estate agent received notice from the seller's agent that all repairs were authorized on the list from
Fannie Mae, seller. However, two delays in escrow had already occurred because the Fannie Mae approved contractor was
not able to get to the job site. The Fannie Mae real estate agent contacted my agent that all repairs were done and the VA
appraiser could come and do his final inspection. Four repairs were not required for VA funding but were put into the Request for
Repairs as a safety situation : missing flu vent to central heating to vent it to the outside, missing gas cap, exposed electrical
wires in the attic and a broken garage door cable. Two of those items were done but the repair contractor sealed the only
attic entrance with wood screws and I could not physically get into the attic to see the work for myself. My agent requested a
work order or invoice to show the work was done in the attic, the listing agent said it would sent and never was. Escrow closed
and I had no ability nor reason to go into the attic until the central heating unit malfunctioned.
A repair technician discovered the missing flu vent was still missing and had never been repaired to vent the central heating
unit and immediately disconnected the gas to unit. He refused to fix the unit stating a serious hazard until it was vented
properly and I had to pay out of pocket to have the furnace vented. All this Fannie supposedly had authorized to be done.
The listing broker selects the Fannie Mae contractor from a list, acquires the job BID submits it and waits for authorization
to proceed. The broker is then responsible for detailing the work to be done, room by room for the repair contractor, is responsible for verifying the work was done and pays the contractor. The broker is then reimbursed by Fannie Mae a later date (usually after close of escrow) for their payment to the repair contractor. When I contacted the Listing Broker about the situation that I had
just discovered I was told "your issue is with the seller, Fannie Mae, I am not the seller". Fannie Mae's policies for brokers
and contractors is available for public view via internet. I think that was a cowardly answer and attitude by the Listing Broker. It was obvious that Fannie Mae as the seller intended to honor the Request for Repairs and she failed somehow in her duties in
communication with the repair contractor or to make sure the repair work was done before informing my agent that all was
completed. I failed to stop escrow when I couldn't get into the attic and went on mistaken good faith judgement that everything was done as requested.. It is a very disappointing situation and I believe Fannie Mae
should have issue also with the way their listing broker managers repairs and won't own up to their own mistakes. They may have a repair contractor that is less than honest and overcharging them or a listing broker that is doing so. It is a sad
way to maintain good buyer relationships. I certainly won't be a Fannie Mae property buyer again, they are too difficult to find afterwards should a problem occur. And I certainly will never buy anything or recommend anyone else do business with that listing broker.