Putting in an Offer on an REO – advice?

Credit and mortgage advice Forums Buying Your Home Buying a Home in Los Angeles Putting in an Offer on an REO – advice?

This topic contains 0 replies, has 1 voice, and was last updated by  Anonymous 6 years, 8 months ago.



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    Anonymous

    I’m intersted in buying an REO that is under $300k in a hot, but still decently priced area of LA. However inventory is low low low.
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    My agent is telling me to offer list price with no closing costs. I’m suspicious of this as that was his advice on the last property I put an offer in on.*
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    My agent also told me banks almost never pay for closing costs. Is this true?

    My agent recommended I put in my best final offer for the REO, but don’t banks always counter offer?
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    I’m a first time home buyer. Any advice is appreciated!



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