Julia Vakulenko

Featured properties: See ALL

Tampa4U.com

Newest listings

MLS# T3102639

Home sits about 300 ft from US 92. One building is a workshop/storage. Its contents may or may not convey with the property. Listing agent MUST ATTEND all showings by appointment only.
Visit this property in DOVER: 13030 E US HIGHWAY 92, DOVER

MLS# U8074136

Pre-Construction. This extra wide waterfront lot/home is less a 2 minute walk from Madeira Beach, and will allow a great setting for sunrise/sunset views. Now, featuring the expanded floor plan with the 4th floor option this option is customizable...
Visit this property in MADEIRA BEACH: 14925 1ST ST E, MADEIRA BEACH

MLS# U8103583

Residence features include your choice of several interior design pallets to personally select from imported European cabinetry, beautiful quartz countertops, rich porcelain flooring in the main living areas as well as gourmet stainless steel...
Visit this property in ST PETERSBURG: 301 1ST ST S #PH-3502, ST PETERSBURG

MLS# T3246809

Besides being in the very heart of Heights, the features in this home are quality, unique and detailed. The home boasts four bedrooms, three full baths, huge wraparound front porch and spacious detached 2-car garage. Come see for yourself what...
Visit this property in TAMPA: 214 W HILDA ST, TAMPA


Tampa4U.com

Tampa Foreclosures

A foreclosure is the legal process of a lender terminating the interest of any homeowner who has defaulted on his loan. When the process if finished, the previous owner loses their rights to the home and lender owns the house. The lender usually sell the home and uses the proceeds to satisfy the mortgage, plus and legal costs. If there is money leftover, the funds can be applied to any other liens on the home or returned to the previous owner.

It is a risky business buying foreclosed homes. Many of the homes are distressed and are sold on the courthouse steps for cash. Before buying a foreclosed home, the buyer will not have an opportunity to inspect the property, so it is a gamble as to how much work needs to be done. Sometimes, the previous owner will gut the property or damage it, but all sales are final in a foreclosure sale. Title insurance is also not available on these homes, so there could be court judgments, undisclosed mortgages, liens, or tax liens. The property is only available as the lender’s description on the deed of trust before purchase.

There are never too many bidders at the foreclosure sales because the requirement for payment is all cash in order to purchase a home. It is nearly impossible to get financing to buy a foreclosure, so many buyer’s will show up with cashier’s checks. It is usually the same group of buyers at a foreclosure sale.

Many homes posted for sale will get postponed for a later date due to a number of reasons including the homeowner filing for bankruptcy, an agreement between the owner and the bank, or the homeowner making the mortgage current.

Some homes on sale have a high minimum bid, and no one will bid on them. Foreclosure prices begin with the balance of the mortgage plus and penalties, leans, later fees, court fees, etc. If no one bids on the property, the home goes back to the primary lender that started the foreclosure. At this point, the bank could list the home sale with a Realtor as an REO (Real Estate Owned).

If a buyer does win the home, he or she is given the trustee’s deed to the home. This will give the buyer a guarantee that the home is free of any loans, but not tax liens. It is now up to the buyer to take care of those if they are left on the property.

Immediate possession of the property is granted, and sometimes the previous homeowners are still occupying the residence. The buyer is responsible for evicting anyone living there. The new owner can start and unlawful detainer proceeding, but it does not give a direct timeline of when they will be out, or what kind of damage they can do in the meantime. So it is very risky for a novice investor to purchase foreclosures.

 

The Home Buying Process:

 

Types of Resale in Today's Market:

 

Taxes, CDD, HOA, and Homestead:

© Copyright 2008 - 2016