Julia Vakulenko

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MLS# T2939292

You'll enjoy first class construction, luxury amenities, privacy, security & entertainment. All you need to do is decide which floor plan best suits your lifestyle. Enjoy the flexibility of being able to rent your unit w/ a 2 week minimum rental...
Visit this property in MADEIRA BEACH: 300 150TH AVE #502, MADEIRA BEACH

MLS# U8053990

Incredible opportunity to own a beautiful 2 bedroom, 2 bathroom with a den at Innisbrook. This unit has an upgraded kitchen and baths with granite countertops throughout. Live the resort lifestyle in this beautiful gated golf community. Membership...
Visit this property in PALM HARBOR: 36750 US HIGHWAY 19 N #21-302, PALM HARBOR

MLS# U8007987

Situated on an ultra-private and secure gated street within the gated community of PYCC, this home is a must see. The 5 bedroom/5 bath/3 half bath, 6,852 sq ft home offers a Mid-Century flair with cathedral beamed ceilings and features an...
Visit this property in GULFPORT: 6226 FAIRWAY BAY BLVD S, GULFPORT

MLS# L4908685

Owner Financing Available with only $30,000 down. This Florida room can be used as flex space for an office, craft room or sitting room- new tile floor and new over sized windows. Bathrooms have been updated with tile showers and floors, new...
Visit this property in PLANT CITY: 2604 JIM JOHNSON RD, PLANT CITY


Tampa4U.com

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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