Bank Owned real estate sales - another step toward fairness for buyers

AB 957 will ensure that home buyers can use local escrow services to provide better service at lesser cost in the purchase of Bank Owned houses.

It is about time that the banks were forced to do what they should have been doing anyway. From now on, REO sales will not be forced to use the bank hand-picked services (and service is not what they are about). We are talking about escrow providers as well as title companies. California "got it right" this time - let the free market, not the banks, pick the best "service" suppliers for real estate transactions.

Why it took so long for legislation to see the light is amazing -- Banks were contracting for the lowest bidders for services, and then everyone else was left to suffer the poor or inferior service. That has all changed now -- life will be a little bit easier and way more fair.

Check for comparable neighborhood prices at www.foustonline.com, Home searches will help you to see what the market is saying. Also review neighborhoods to get a comparison of the areas.