Julia Vakulenko

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MLS# U8013398

You Will Love The Expansive Waterfront Views From The Tropical Backyard With Saltwater Pool. This Home Features A 6,000 Sq Ft Buildable Lot To Add On , Renovate or Build New. Possibilities Are Endless With This. Potential for 3rd bedroom as an...
Visit this property in TREASURE ISLAND: 12250 7TH ST E, TREASURE ISLAND

MLS# U7830874

This is a Ground Floor Unit. Rare Opportunity - Condo Next Door (#C) Shares a Common Door that when Opened would Add Another Identical Unit with 2 Bedrooms and 2 Bathrooms, Creating a 4 Bedroom, 4 Bath Unit that is Perfect for a Large Family or...
Visit this property in ST PETERSBURG: 3600 42ND ST S #B, ST PETERSBURG

MLS# U8050222

Within the legendary Sandpearl Residences on North Clearwater Beach lies the most coveted direct Gulf & Beach front 3 Bedroom to be found. The rare & rarefied "A" floor plan with 3 full bedrooms, 3. 5 baths encompassing 2,605 square feet....
Visit this property in CLEARWATER: 11 BAYMONT ST #1401, CLEARWATER

MLS# W7809751

To be built. Your interior staircase features a beautiful wood design wains coating. The community is also walking distance to green key beach. *gas fireplace package available.
Visit this property in NEW PORT RICHEY: 4537 HERON LNDG, NEW PORT RICHEY


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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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