Julia Vakulenko

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MLS# U7792418

Looking for Seminole schools. Well here you go. Quaint 2 Bed, 1 Bath, 1 Car garage home in the heart of Seminole waiting for your personal upgrades. Walk or bike to the new Seminole shops or drive 5min to the beautiful sandy beaches that are...
Visit this property in SEMINOLE: 8453 109TH WAY, SEMINOLE

MLS# U7792679

Gorgeous water views from this top-floor condo in the award-winning Shores of Long Bayou. This 2 bedroom, 2 bath condo features stainless steel appliances, large walk-in closets and great views from every window. All of this set in a gated,...
Visit this property in ST PETERSBURG: 6551 SHORELINE DR #6505, ST PETERSBURG

MLS# A4165164

Rear golf views and serene natural lake views from front. Entry is through double glass doors and an open foyer. Oversized 3 bay garage. A- rated schools.
Visit this property in NOKOMIS: 2133 CALUSA LAKES BLVD, NOKOMIS

MLS# N5909841

End of Cul-de-sac oversized lot with water on both sides, overlooking an Island Bird Sanctuary on the Creek. Overlooking the bird sanctuary, water and boat viewing is a hand crafted Artisan covered Swing. Extremely large pool area includes...
Visit this property in ENGLEWOOD: 38 BRIDGE ST, ENGLEWOOD


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Tampa Bank Owned Homes or REOs

Real estate owned properties are the type of properties that a bank has taken back through foreclosure proceedings. Now the bank owns the property (these can also be referred to as bank repos). The bank will try to list the property with a real estate agent in order to get a qualified buyer so that both can get the best possible price in the quickest time. Since banks are not in a position to keep real estate inventories, they try to dispose off these properties as quickly as they can by offering it a very much discounted rate. Usually very much lower than market price.

REO properties are often, but not always, in terrible condition. The previous owners were probably not able to take care of routine repairs or maintenance that quickly call attention to bigger problems with the home.

The property could be vacant, damaged, and definitely not the most desirable place on the market. There are many buyers that will turn around and walk away once they find out that the property is in bad shape, so this is why many first time buyers are attracted to these properties. First time buyers can get a good price and spend time fixing up the property themselves.

Many buyers will try to negotiate the price of an REO, but even though lenders are looking to cut their losses, the still want to get the best price that they possibly can out of the property. It is easier for a lender to sell a property since there is no emotional attachment, so they will often sell the home to the best qualified buyer at what they think is a fair price.

It is often more difficult to qualify for an REO property than for a typical home. This is because requirements on financing are stricter. Most lender are not looking for buyers who make an offer on the contingent sale of the their home, because this option would end up costing the lenders money.

 

The Home Buying Process:

 

Types of Resale in Today's Market:

 

Taxes, CDD, HOA, and Homestead:

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