By Coco Clayman-Cook

I believe in being honest with my clients.  There are times when honesty is not appreciated; it is in those times when I think it is doubly important to be honest.  I am versed in the sale of REO property.  I am REO MAC trained and certified, and like a lot of people I was excited last summer to tell my clients about the exciting deals that were available in the REO arena of Real Estate for Los Angeles.  REO properties are those that have been foreclosed on by the bank, they failed to sell at auction and have now returned to the bank for sale in order to recoup their losses.  Here is the thing I want to be clear about.  Banks are not giving these properties away.

There are many unscrupulous people out there claiming that banks are taking pennies on the dollar.  Believe me when I say, it's simply not true.  However, what is true is that banks are offering these properties for discounted prices, most of the time.  I have seen some local REO properties that I personally feel are inappropriately priced with advice from over anxious Realtors who are looking to make a wider profit.

If you are interested in buying REO property, make sure you are working with an honest professional who has REO experience.  If you live in the LA area call me I will be happy to show you the worthwhile REO properties that are currently available.