1). How can I buy such an REO? 2). Is there anyone who can help me get this kind of REOs in such non-tricky prices?

Asked by Hannah, Hawthorne, CA Fri May 21, 2010

I am tired of filling all kinds questionnaires and being trapped into a 7-days-free-kind tricky teaching plans.
I need talk with a true human being who will definitely be helpful in term of purchasing an REO property listed here with a classic and reasonable service fee.

Help the community by answering this question:

+ web reference
Web reference:


David Chiles’ answer
David Chiles, Other Pro, Los Angeles, CA
Tue Nov 9, 2010
Thanks for your question about purchasing an REO. An REO is the last stage in the foreclosure process and these properties are typically listed on lender websites, Bank of America, Chase, & Fannie Mae websites all list their REO properties that are for sale (they have properties that are not for sale). These websites will show you the 'real prices'.

A good local agent can help you find an REO property and walk you throught the process. Please be advised that purchasing an REO is a longer more involved process than purchasing a property that is not distressed.
0 votes
Dorene Slavi…, Agent, Torrance, CA
Tue Nov 9, 2010
Dear Hanna,
The best way to buy an REO property is to hire an excellent Buyer Agent to assist you. Let you agent know exactly what you are looking for and they will find you the right property. It's actually very straight forward working with REO property. My last two sales were condo's and both were bank owned! My clients got a great deal for a very good price...and brand new property too!
Web Reference:  http://www.doreneslavitz.com
0 votes
Sheyenne Sch…, Agent, Torrance, CA
Mon Jun 14, 2010
Hi Hannah! I help buyers buy REO properties. No questionaires, no traps, no gimmicks, no 7 day free trials.
Just a real human being with over 68 buyers who've bought REO homes, references on file. There is a way to do it, and if you want to be successful, you need to work with someone who makes these offers and gets them accepted all day long. If you qualify, and follow the program, you should see results in less than 2 weeks, it's all up to you. Contact me at 310-429-4170
Sheyenne Schultz Need to BUY? Just call SHY! Buyers gave me that line..because it's true.
http://www.shysells.com or email me at shy@shysells.com
No pressure, just the facts...information provided...Never a fee to buyers!
Web Reference:  http://www.shysells.com
0 votes
Shel-lee Dav…, Agent, Rolling Hills Estates, CA
Mon May 24, 2010

REO properties usually end up listed in the MLS like all other homes for sale. Banks do not sell REOs directly. So when you see a property in Trulia that says it is an REO, you will have to wait until the bank lists it with one of their preferred agents. At that point in time, you will make an offer - and often there are multiple offers on these properties. Working with a local real estate agent to identify these properties early and make strong offers is one way to land an REO.

On the other hand, not all proerties go back to the bank. Some are actually purchased by investors on the courthouse steps. I work with several such investors and have access to their properties before they are listed on the MLS. If you wouldl like more information on purchasing these properties, please contact me directly through my profile. Once we discuss what your wants and needs are, I can let you know if there is anything in their inventory that fits your parameters. Dare to Dream.

Shel-lee Davis, CDPE, SFR, QSC
Your Real Estate Consultant for Life
RE/MAX Palos Verdes Realty
0 votes
Michael Magaw, Agent, Torrance, CA
Fri May 21, 2010
Scott is correct. You need to find a local Buyer's Agent that will help you find your dream home. This agent will get paid by the Seller/Bank and not by you. If they are good, they will do the following:
Keep you informed on the available inventory and which ones are worth looking at,
Give you recommendations on values, neighborhoods, etc.,
Help you write a clean offer and then negotiate the price and other terms,
Protect your interests throughout the escrow to ensure that everything goes smoothly,
Close escrow and give you the keys to your new home.

I am an experienced Broker with certifications in Short Sales and REO listings.

Michael Magaw
Web Reference:  http://www.nhlbrokers.com
0 votes
Monique & Joe…, Agent, Beverly Hills, CA
Fri May 21, 2010
Hello Hannah,

All you need to do is work with an agent that knows how to get an offer to the bank. There is no trick. REOs are listed on the MLS. I'd be happy to help you find them. Be carefull of tricks/service fees.


Monique Carrabba
The Carrabba Group
Keller Williams Hollywood Hills
(323) 899-2900
0 votes
Deborah Lon…, , Torrance, CA
Fri May 21, 2010
Hannah, any REO property in good condition with a fair market price will have multiple offers. There's no way around it. It takes patience to purchase a distressed property, be it an REO or a short sale listing. I'd be happy to talk with you about the ways to successfully make such a purchase. Call me, Deborah London at 310-808-3739, if you have an interest to know more.
Web Reference:  http://deborahlondon.com
0 votes
Scott Godzyk, Agent, Manchester, NH
Fri May 21, 2010
You have 2 choices then... first hire a buyer broker , you should be abl eto at no cost to you as they get paid their commission the fee advertised in mls from the listing broker. this way you willhave someone who is working for you, assisting you and looking out for your best interests. They can provide you with a list of reo homes in you rarea.

The second way if you dont want to work with just 1 agent, is contact the larger listings agents of reo properties in your area, they will be able to assist you in getting addresses on their listings.

godo luck with your search
Web Reference:  http://www.ScottSellsNH.com
0 votes
Search Advice
Ask our community a question
Foreclosure in Hawthorne Zip Codes

Email me when…

Learn more