REO, BANK OWNED Burbank CA & San Fernando Valley - CASH BACK REBATES TO HOMEBUYERS

Burbank, Toluca Lake, Glendale, Studio City, Sherman Oaks, Studio City, Valley Glen, Valley Village, all areas in San Fernando Valley, Antelope Valley: Palmdale, Lancaster and Greater Los Angeles REO's, Bank Owned homes, townhomes, duplex, income property.

Did you know that you can get 1% CASH BACK REBATE TO HOMEBUYERS FOR SELECTING LUPE AS YOUR BUYERS AGENT? 1% of $400,000 sales price would be $4,000 rebate at close of escrow. Buy & Save with Lupe. Call Lupe for more info or click below link for more info.

For more information on BANK OWNED properties, please contact Lupe via email or for faster service please call 818-968-3718. Lupe is available to help you!

Why do you need to hire an REO Exclusive Buyer's Agent?

Unless you have direct experience negotiating with banks, you may receive better representation by hiring your own buyer's agent. Before you select an agent, choose several and interview the real estate agents to find a good fit.

Buyer's agent have a fiduciary responsibility to protect your interest.

Buyer's agents do not represent the seller.

Buyer's agents are generally paid by the seller.

Buyer's agents may ask you to sign a buyer's broker agreement, which will lay out the agent's duties to you and specify who pays the commission.

Hire a buyer's agent who has experience working with REOs, call Lupe Soto, licensed Realtor (818) 968-3718.

Negotiating with REO's: If the listing is relatively new to the market, it is very possible that the bank will not deviate much from its asking price. You will have greater negotiating power if you make offers on homes that have been on the market for longer than 30 days. Here are more tips:

Banks negotiate bulk-rate discounts with title and escrow companies. If you elect to use the bank's title / escrow company, check the fees those companies will charge you. Generally, fees not paid by the bank but paid by the buyer will be higher because title and escrow often make up those discounts by charging buyers more.

Many banks are moving away from paying typical closing costs for the buyer. Some fees such as transfer taxes, county and state fees, are borne by the buyer and not the bank. Banks do not often pay for pest reports, repairs or home warranty plans.

Some banks will not sign a counter offer until all terms are mutually agreed upon between the parties verbally.

Expect the bank to draw its own purchase contract or addendum to your standard purchase contract. Read it thoroughly and ask a real estate lawyer for advice if you do not understand it. You can bet the bank's lawyer drew up that contract, and it's not in your favor.

If the bank won't budge and you receive an offer rejection, wait another 30 days and then resubmit your original offer, with the original date crossed off and your new date inserted.

You might wait 10 days for a response to your offer from the bank. Be patient.

The bank may ask for you to submit a loan application so it can prequalify you; however, you are not obligated to obtain your loan from that bank.

If you cannot close by the predetermined closing date, the bank may charge you a penalty for each day you pass that date. Make sure you have a loan preapproval letter from your own lender before submitting an offer, and get assurance that you will receive the financing from your lender without running into unexpected delays.

You will likely be asked to buy the home "as is." There are drawbacks to buying foreclosures. Make your offer subject to a home inspection. Some sellers in default strip assets from foreclosure homes.

Please contact LUPE SOTO, REO Exclusive Buyer's Agent via email sotolupe@charter.net or for faster response, call Lupe at (818)968-3718.

Below you will find a list of bank owned properties under $350,000 in Burbank and surrounding areas in San Fernando Valley, please call me to set up an appt to talk about how you can buy a bank owned.

YOUR MORTGAGE PAYMENT would be approx $2,546 all included if you buy a house at $350,000, the down would be 3% or $10,000, your loan amount would be $340,000, the interest rate as of 3/28/08 (subject to change) is 5.875% APR 6.25% fixed for 30 years, $2,011 P.I principal & Interest included, $364/mo property taxes included, $30/mo for fire ins included, $141/mo for PMI mortgage ins, all payments would be in the range of $2,546 with a min fico score of 620, if you have a job you qualify, if you have the 3% down, then you are ready to view properties with me, pls call me to verify information, interest rates and How I can assist you. I will help you get your loan approved. Free consultation. No obligation. Call Lupe (818)968-3718.

LE AYUDARE A CALIFICAR. Consulta Gratis y sin compromiso. Lupe (818)968-3718.

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