Julia Vakulenko

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MLS# T3109710

Cash or Conventional loan only. A new 3rd bedroom and bathroom just added. New Fences. Minutes away to University of South Florida and Busch Gardens.
Visit this property in TAMPA: 1306 E LINEBAUGH, TAMPA

MLS# U8005755

Country kitchen model features a spacious split plan, large kitchen with eating space, covered patio including storage closet, assigned parking space and being sold fully furnished. Convenient location close to gulf beaches, Ft. DeSoto Park,...
Visit this property in ST PETERSBURG: 6151 BAHIA DEL MAR BLVD #119, ST PETERSBURG

MLS# U8005745

This is a nice home in a nice, convenient location. Very pretty corner lot Two or Three bedroom (Seller used as three bedroom, with a hall closet) only two with closets. Ceramic tile throughout the home, large two car garage with screen door, and...
Visit this property in HOLIDAY: 3533 OVERLAND DR, HOLIDAY

MLS# T3109457

Property is under auction terms. The home has 3 bedrooms and 1 bath. Value is in the land. After auction concludes, it may take up to 7 calendar days for offer decision.
Visit this property in TAMPA: 4106 KNOLLWOOD ST EAST ST, TAMPA


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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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