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?

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    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.
    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.*
    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?
    I’m a first time home buyer. Any advice is appreciated!

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