Julia Vakulenko

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MLS# N5914610

Pristine, updated and perfect. Updates just completed include appliances, paint, flooring, granite counters, and so much more. With sweeping views of the golf course and water from your oversized screened balcony you will enjoy each and every...
Visit this property in VENICE: 1002 GONDOLA PARK DR #2BLG10, VENICE

MLS# U7834863

Location. The Kitchen has Custom Cabinets, New Frigidaire Stainless Steel Appliances & Custom Microwave, Double Deep SS Undermounted Sinks, Tile Back splash and Granite Countertops. Master Bath has New Tile Shower with Pedestal Sink and Low Flow...
Visit this property in ST PETERSBURG: 100 59TH AVE NE, ST PETERSBURG

MLS# T2908618

Grant Park traditional-style block dwelling offering an interior layout of 3 bedrooms and 2 Bathrooms. Master bedroom with en-suite bath. The property also features laminate and tile throughout, a wide open kitchen, lots of closet/ Storage space...
Visit this property in TAMPA: 3810 N 55TH ST, TAMPA

MLS# T2908044

This wonderful SPLIT PLAN layout places two BEDROOMS and a full BATH off of the Family Room while Bedroom 4 and full BATH is suitable for an in-law-suite. Relax poolside overlooking your well-manicured lawn and attractive landscaping which...
Visit this property in PLANT CITY: 3512 SANDBURG LOOP, PLANT CITY


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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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