Julia Vakulenko

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MLS# T3295160

There is an old small Mobile Home on property that has no value. However, there is county water and septic in place. Even though it is not currently zoned for a Mobile Home, I spoke with county, and buyer may be able to remove current Mobile Home...
Visit this property in SEFFNER: 5509 PEACH AVE, SEFFNER

MLS# U8146841

Take pride in this contemporary 3 bedroom, 2 bathroom ranch-style home in a picturesque neighborhood. Upon entering, you will be led into an open floor plan filled with sunlight. Enjoy cooking in this bright eat-in kitchen featuring plenty of...
Visit this property in WESLEY CHAPEL: 6351 WEATHERWOOD CIR, WESLEY CHAPEL

MLS# U8074136

To be built. GHD Coastal Homes is offering the newly designed "Key West" home. Now, featuring the expanded floor plan with the 4th floor option this option is customizable to buyers preferences. Dolphin, manatee, sea life activity all day long.
Visit this property in MADEIRA BEACH: 14925 1ST ST E, MADEIRA BEACH

MLS# U8103392

To be built. A rare find. New construction waterfront home in Snell Isle. This modern design home features over 4500 square feet of living space, including five bedrooms and five and one half bathrooms, a gourmet kitchen/great room combo, 11 1/2...
Visit this property in ST PETERSBURG: 1298 CORDOVA BLVD NE, ST PETERSBURG


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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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