Julia Vakulenko

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MLS# T2888793

This home also includes Granite Counters, Stainless Steel Appliances and Premium Mohawk 12x24 Ceramic Tile. Semi-custom finish selections are available. Gramercy Court will also offer packages for optional elevators, home automation, and wireless...
Visit this property in DUNEDIN: 946 HIGHLAND AVE ##40, DUNEDIN

MLS# T2888894

Move in ready 4 bedroom 2 bathroom mobile home on 1. Home features over 2000 sqft of living space, a great layout, beautiful Island style kitchen with gorgeous oak cabinets and a full set of stainless steel appliances. Also enjoy fresh interior...
Visit this property in PLANT CITY: 5007 BARRON MEADOWS LN, PLANT CITY

MLS# U7822966

Located in the highly sought-after neighborhood of Isle of Capri in Treasure Island, Florida, this 3 bedroom, 2 bath waterfront home is a boater's paradise. Terrazzo floors, upgraded windows and sliders, newer HVAC, and new paint throughout the...
Visit this property in TREASURE ISLAND: 545 CAPRI BLVD, TREASURE ISLAND

MLS# T2888224

Gorgeous home, this Taylor Morrison” Amesbury” floor plan has been well cared for, is move-in ready, and located in the highly desired community of Channing Park with top rated schools and resort style amenities. Close proximity to restaurants,...
Visit this property in LITHIA: 17448 NEW CROSS CIR, LITHIA


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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