Julia Vakulenko

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MLS# U8050222

Within the legendary Sandpearl Residences on North Clearwater Beach lies the most coveted direct Gulf & Beach front 3 Bedroom to be found. The rare & rarefied "A" floor plan with 3 full bedrooms, 3. Now this particular "A" is perched just below...
Visit this property in CLEARWATER: 11 BAYMONT ST #1401, CLEARWATER

MLS# T3138535

Enjoy flexible luxury for the fortunate few. EXTREMELY RARE to find the flexibility of BOTH. This large 3/3 en suite layout is perfect for vacationers who want space in a Brand new luxuriously appointed condo which is one block from the most...
Visit this property in MADEIRA BEACH: 15305 1ST ST E #P2, MADEIRA BEACH

MLS# U7837761

Tampa Bay waterfront coastal chic located only minutes to downtown St. Petersburg. Experience breathtaking water views from almost every room in this well designed and superior crafted 5 bed, 5 bath home built by award winner Labram Homes Inc....
Visit this property in ST PETERSBURG: 6401 BAYOU GRANDE BLVD NE, ST PETERSBURG

MLS# T3239657

The two-story St. Kitchen includes decorative 36” staggered cabinets with raised panel doors, designer laminate countertops with 5” backsplash. Low-maintenance 17”x17” ceramic tile floors in foyer, kitchen, laundry room and all baths, Cararra...
Visit this property in NEW PORT RICHEY: 11738 CASTINE ST, NEW PORT RICHEY


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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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