Julia Vakulenko

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MLS# W7635490

Very large two bedroom featuring: living room with gorgeous laminate flooring, formal dining room, bonus room/family room off the kitchen. The second bedroom is on the opposite side also features a walk in closet. All season sun room giving you...
Visit this property in PORT RICHEY: 10502 QUIMBY DR, PORT RICHEY

MLS# U7839134

Stop the car. Looking for a home in a prime location with an abundance of open, bright space. This house has it all. Conveniently located less than 1 mile from downtown Safety Harbor and with a tranquil pond right in your own backyard, this house...
Visit this property in CLEARWATER: 1218 N BAYSHORE BLVD, CLEARWATER

MLS# T2914800

Winthrop has it all- shopping, dining, nightlife, arts, Dr’s office, private community center with state of the art fitness center, catering kitchen and pool, and highly rated schools from daycare through High School. Convenient to downtown Tampa,...
Visit this property in RIVERVIEW: 6132 HADLEY COMMONS DR, RIVERVIEW

MLS# U7839251

Great little studio condo. This condo is perfect for the owner to occupy or you can rent it out too. Do not miss this opportunity to own your own condo at a great price. All information deemed accurate but should be verified.
Visit this property in ST PETERSBURG: 8580 9TH WAY N #A, ST PETERSBURG


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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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