Hi Yuki,
Foreclosure listing agents represent sellers, the Bank. If you are planning to buy a foreclosured property I suggest you to find an agent who represents buyers and have sold many REO recently. Especially first time home buyers, you really need an agent only represent you to negociate the price with the listing firm and getting a mortgage. Different buyers may experience different services provided by different agents. I hope you have an awesome experience when buying your first home! Whenever help is needed please feel free to contact me!
Regards,
Sunny Hermoso
818-357-4178
Brightstone Estate Properties
www.sunnyhermoso.com

Thu May 29 2008, 10:22

I found the website that lists many of the REO websites. I promise this will be my last response to your question. Hope it helps:

http://www.mortgagenewsdaily.com/wiki/REO_Database_List.asp

Thu May 29 2008, 09:18

Hi Yuki: I forgot to mention how to find an agency that does foreclosures in LA. I might suggest that you go to the Bank of America website (and Countrywide website) that lists all their homes that are REO available. The website will have the city, address, price (Countrywide has the price, BA does not) and the listing agency. These websites will give you an idea of who the bank uses to list their properties. I found this invaluable in finding the agency that carries most of their listings. Do a Google search on Bank of America REO and Countrywide REO to find the website. There are other banks with similar sites. Once I find the agency, I then call the manager and ask for the foreclosure agent. Good Luck.

Thu May 29 2008, 08:59

Yuki, be sure to find a qualified realtor who specializes not only in foreclosures, but in the area that you're looking to buy in. Los Angeles is a huge area, so be careful to select a realtor who is local to where you want to live. Each Los Angeles neighborhood has unique qualities.

Thu May 29 2008, 08:35

Hi Yuki: I responded to your first question about buying a foreclosure and suggested you deal with an agent who focuses on foreclosures. I would not retain an agent who is not a foreclosure specialist even though many agents claim they can help you with all types of transactions. As an example I had one agent tell me that foreclosures are sold "as is" -- I am glad I didn't follow her advice. There was another agent who said that I could not get access to a foreclosure to have an inspection completed -- another error. There was another agent who told me closing a foreclosure can take months -- again, wrong answer. I would first start by looking for an agency that lists most of the foreclosures in the area you are interested in buying -- then I would look for an agent in that agency that focuses on foreclosures. I have found that the listing agency will get listing information changes before any other agency and your agent can get you that information before it goes out to other agents. I bought a foreclosure last month where I stipulated the air conditioner be replaced, all closing costs to be paid by seller and a HOW be paid by the seller. These terms were all agreed to. The foreclosure agent guided me in my offer because he knew which sellers would be most aggressive in selling their REO homes and which sellers would be more reticent; the other agents...they're still shaking their heads. I wish you luck.

Wed May 28 2008, 18:36

Hi Yuki,
As stated below, any realtor can help you out with the foreclosure process, however one who specializes in it will be more effective in finding the right property and helping you negotiate and successfully emerge through the process. In today's real estate market, foreclosures do play an important part of what is available to buyers. LA Real Estate Group stays on top of the foreclosure/short sale market. We also offer a free list of foreclosure properties ( http://mylarealestategroup.com/foreclosures___investments-c5… ) updated every Monday, sorted by zip code. Check out our website and see if its something we can help you with.
Good Luck to you
Lou and Alex
LA Real Estate Group
info@myLARealEstateGroup.com
www.myLARealEstateGroup.com

Thu May 22 2008, 10:30

Yuki - do yourself a favor - go with a real specialist.

It is true that most agents understand the foreclosure process - and most are able to help you.
Few are true experts on the subject, and have the experience to know how to not only execute the deal properly - but more importantly find the right deal to execute in the first place.

Not all short sales or foreclosures are created equally - and not all are good opportunities.
Any agent can put together an offer and take it to the bank. A true expert can do a whole lot more then that.

Wed May 21 2008, 22:54

Hi Yuki, Any real estate agent should be able to do that. If you can't find in the area, I would love to help you out. Let me know.

Wed May 21 2008, 22:45

Hi Yuki,

Most "foreclosure specialist" deal with banks & list foreclosure properties. These people are way TOO busy to represent a buyer. Why not find a reputalble Realtor. We all understand the foreclosure process and can represent you. Perhaps you have a friend or coworker who had a recent positive with a buyer's agent. You should interview 3 & pick the one you feel with be your strongest advocate in the buying process.

Best of luck,

Karen Miller

Sun May 11 2008, 13:52

Go to ForeclosureTruth.com and you can look up foreclosure specialists in your area.

If you dont find anyone let me know. Im a member of a network of over 200 Certified Foreclosure Specilists throughout California and Im certian I can refer you to someone in the LA area

Sat May 10 2008, 23:13