Julia Vakulenko

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MLS# A4196605

just minutes from I-75 and a short drive to Siesta Key Beach. The community is undergoing a full exterior renovation to include a new roof, double pane low-e insulated windows, doors, and exterior siding, expected to be completed in 2018. The...
Visit this property in SARASOTA: 5561 ROSEHILL RD #101, SARASOTA

MLS# T2904070

Great LOCATION with easy access to I75, I4 and Selmon Expw. Washer and dryer stays. Contact us or your realtor for a private showing. Enjoy the Florida lifestyle with a LOW HOA in a house that has it all.
Visit this property in BRANDON: 1606 OPEN FIELD LOOP, BRANDON

MLS# T2904499

The second includes a formal dining room and a separate, formal living room. This home sits on a quiet cul-de-sac with beautiful landscaping, shady oaks and – with no neighbors in back – natural privacy. But what makes this community so special is...
Visit this property in PORT RICHEY: 11024 ELDERBERRY DR, PORT RICHEY

MLS# T2904086

Property has 2. We can either build one larger home on the 2. 25 acres mol and a 1616SF home in the front of the property starting at $316,219 and 1. Call for details.
Visit this property in WIMAUMA: 5304 RUTH MORRIS RD, WIMAUMA


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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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