Julia Vakulenko

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MLS# T2900383

Under Construction - Cali plan: 1828 SF- 4 bedroom, 2 bath, 2-car garage on a very deep homesite. The dining room and living room both overlook the covered lanai which is a great area for relaxing and dining al fresco. The large owner’s suite,...
Visit this property in SARASOTA: 5524 ASHTON COVE CT, SARASOTA

MLS# C7242744

Pre-Construction. To be built. Celebration Series 1709-B NEW two story garage home. Additionally upstairs are 2 more bedrooms, a loft and another full bath.
Visit this property in NORTH PORT: 35 KASKIN AVE, NORTH PORT

MLS# T2900402

Pre-Construction. To Be Built. Featured is a custom, Sustainable Modern style design with a wide open floor plan and high level of finish. Call today to meet with the Builder and design team today, and make your dreams your reality.
Visit this property in LUTZ: 2415 VANDERVORT RD, LUTZ

MLS# U7828590

Hurricance reinforced Clubhouse with Kitchen, fitness area and pool. 10 Minutes to the Gulf Beaches. The community has a lot to offer as well, icluding a fishing pier exclusive to the community. Fully Furnished with 2 screened in porches.
Visit this property in SEMINOLE: 10399 67TH AVE #32, SEMINOLE


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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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