Julia Vakulenko

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  • $249,000
  • 2 Beds
  • 2 Baths
  • 1,966 Sq.Ft.

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MLS# T2883708

This Taylor Morrison built home features 4 bedrooms, 3 baths, an office/den with French doors, formal living & dining room w/double tray ceiling, art niches, recessed lighting, large family room, 3 sets of sliders out to the lanai, diagonally laid...
Visit this property in RIVERVIEW: 10824 ROCKLEDGE VIEW DR, RIVERVIEW

MLS# A4187300

The 2nd Bedroom has an exterior door and an adjoining den which makes it ideal for rental purposes. All appliances including the hot water heater and W&D are less than 3 years old. The spacious side yard will accommodate all your “toys” and...
Visit this property in SARASOTA: 3724 NORWOOD CT, SARASOTA

MLS# T2883791

Gorgeous WATERFRONT home of your dreams. Amazing saltwater views right from your kitchen. This gorgeous home is MOVE IN READY; completely redone and updated with beautiful kitchen and bathroom cabinetry. Double pane WINDOWS DONE RIGHT, to take...

MLS# T2883690

Cash only. Death in the family forces sale at below market value. Large 2 bedroom, 2 bath home with Garage and an enclosed florida room. Finish this home and enjoy a profitable flip or rent for years to come with a positive ROI.
Visit this property in PORT RICHEY: 10830 NORWOOD AVE, PORT RICHEY


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.


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