Julia Vakulenko

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MLS# U8100208

This property has additional home for the guest or in laws to reside. This house is great for large families. It has 10 bedroom and 10 bath in one building and the second home has 2bed and 1bath. It is near shopping center, minutes to beaches and...
Visit this property in CLEARWATER: 1845 N KEENE RD, CLEARWATER

MLS# T3281168

Three acres. Live in one home and let the other two pay the bills. each of the homes has 2 bedrooms and 2 bathrooms. Beautiful property with a world of possibilities.
Visit this property in DADE CITY: 40529,40539, and 40539 ENTERPRISE RD, DADE CITY

MLS# O5891536

Come and enjoy Historic Roser Park as it is experiencing a renaissance. The original wood floors have been refinished. Hundreds of hours were tirelessly spent locating 100 year old lighting fixtures to match the character of this magnificent home....
Visit this property in ST PETERSBURG: 846 8TH AVE S, ST PETERSBURG

MLS# U8110162

Beautifully maintained 4 bedroom 4 1/2 bath home located on a double lot in the heart of Belleair, Florida. The lower floor provides a bonus room, three guest bedrooms, three full baths and a 1/2 bath powder room. Utility laundry located on the...
Visit this property in BELLEAIR: 111 PALMETTO RD, BELLEAIR


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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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