Julia Vakulenko

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MLS# A4206974

From the pages of a magazine comes this extraordinary homeā€¦elegance, style, refinement are the words to describe this magnificent home in River Wilderness Golf & Country Club. Better than a model, with unrivaled attention to details and...
Visit this property in PARRISH: 11452 SAVANNAH LAKES DR, PARRISH

MLS# T2920166

5 BA/2-car garage home in Gibsonton. Brand new exterior paint January 2018. The master suite features double door entry, walk-in closet and a spacious master bath with dual vanity, garden tub, separate shower and linen closet. Conveniently located...
Visit this property in GIBSONTON: 8203 CARRIAGE POINTE DR, GIBSONTON

MLS# N5915945

Long lake views from your extended lanai and heated and cooled salt water pool and spa. New interior and exterior lighting. One more added value is the oversize two car garage for your golf cart. Enjoy the championship golf course, tennis courts...
Visit this property in NORTH VENICE: 118 SAVONA WAY, NORTH VENICE

MLS# U7843724

Updated master bath. Home is hurricane shutter equipped. On a quiet street and move-in ready. Thank you.
Visit this property in LARGO: 12401 84TH WAY, LARGO


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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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