Julia Vakulenko

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MLS# U8060615

To be built. Charming 4 bedrooms, Plus Office/Den, 3 bath, home with a SIDE ENTRY 3 CAR GARAGE with 8' garage doors, front porch and dormer windows. The home features high decorative ceilings in the owner’s suite, family room and bonus rooms....
Visit this property in LUTZ: 17841 SIMMONS RD, LUTZ

MLS# U8064231

Owners originally carefully picked this unit from the builders because it was the most peaceful unit of all buildings, sit on your beautiful balcony without any traffic noise. HOA includes water, trash, maintenance , and exterior insurance. New Ac...
Visit this property in ST PETERSBURG: 12033 GANDY BLVD N #154, ST PETERSBURG

MLS# W7804333

As you step into this 5 bedroom 5 1/2 bath home, you're greeted with vaulted ceilings and imported travertine floors. In addition, there is an executive style office with another bonus room right off the great room with views of the grounds....
Visit this property in TARPON SPRINGS: 199 OLD EAST LAKE RD, TARPON SPRINGS

MLS# U8016990

Unbelievable view from this waterfront home. Looks out on to Boca Ciega Bay with spectacular waterfront views. House is currently a 5 bedroom and 4 and 1/2 bath home. Does need some updates as it is being sold as-is.
Visit this property in ST PETE BEACH: 5950 BAHIA HONDA WAY N, ST PETE BEACH


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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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