Julia Vakulenko

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MLS# T3382008

Spacious farmhouse with custom finishes, backyard oasis and plenty of storage. Walk-through virtual tour available. From the dream-worthy master bathroom to the cute and functional laundry room to the warm and inviting living room, it will be easy...
Visit this property in PLANT CITY: 609 SWILLEY LOOP, PLANT CITY FL 33567

MLS# U8166974

Adorable 1 bedroom 1 bath 468 sq ft with 1 car carport in Midway Am/Can 55+ resident-owned community mobile home park. Updates include a newer hot water heater, 2 air conditioners, refrigerator, and stove. (You own/no lot rent) Conveniently...
Visit this property in LARGO: 12674 SEMINOLE BOULEVARD # S7, LARGO FL 33778

MLS# T3380592

The kitchen features granite counters with a sprawling island and breakfast bar. The 3-car garage is an oasis for those that tinker, it has been insulated and is cooled via a mini split unit. Easy commuting to Tampa via I-75. Don't consider buying...
Visit this property in WESLEY CHAPEL: 2640 KENCHESTER LOOP, WESLEY CHAPEL FL 33543

MLS# T3382277

Behind a mature coconut tree and low water landscaping you'll find this beautiful home that radiates with Florida sunshine and sandy beach vibes. Located in the coveted North East St Pete location just north of Snell Isle and walking distance to...
Visit this property in ST PETERSBURG: 747 39TH AVENUE NE, ST PETERSBURG FL 33703


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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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