What . . . you want plumbing in your house too??

Another cautionary tale. I just had a closing postponed (and maybe won't ever close) due to the final walk though on a Fannie Mae owned property which revealed that all of the copper piping had been neatly and expertly removed from the house!! The property had only been under agreement for 3-4 weeks. It was a cash deal for the buyer and so no appraiser had visited. The house itself is in need of extensive repair but the condition now is significantly worse. If it were not for the buyer's broker insisting that the buyer do a final walk through on the morning of the closing, we would have closed and gone to record without knowing. I can only imagine Fannie Mae's unwillingness to undue the deal after it had closed. The buyer was not inclined to do the walk initially, as she knew repairs were going to be needed anyway. Little did she know how much repair was need. Fortunatly, it did not close and Fannie Mae is faced with accepting a much lower offer from this buyer (if she choses to do so) or letting the property sit for a while (maybe a long while) longer. Good work by this buyer's broker. Lesson . . do not ever skip a final walk through on any sale. Who knows, they could have taken the whole house away!!