Julia Vakulenko

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MLS# U8024452

Lovely 2 BR villa with stunning water and pool views in highly desired Bahia Del Mar. It is being sold completely furnished and includes covered parking for your unit. Enjoy the beautiful views while sitting in the living room or lounging on the...
Visit this property in ST PETERSBURG: 6365 BAHIA DEL MAR BLVD #215, ST PETERSBURG

MLS# T3141500

Pre-Construction. Standard finished include stainless appliances, and hard surface countertops. Impact resistant/high efficiency hurricane proof windows plus high quality interior construction and attention to finishes. The new construction is...
Visit this property in LARGO: 960 STARKEY RD #9203, LARGO

MLS# T3142315

Upon entry you will be welcomed with a large sized foyer and powder bath to your right. Leading into an open floor plan with a kitch/living room with a dinette combo that leads into the screened back porch with a nature view. Enjoy a huge Olympic...
Visit this property in TAMPA: 8137 STONE LEAF LN, TAMPA

MLS# U8025396

Upon entering your home, the living room, dining room and kitchen are open concept - ideal for entertaining guests. There is also an enclosed Florida room which is accessed through the sliding doors in the dining room. Roof 2018. Water heater 2012.
Visit this property in SEMINOLE: 11755 81ST AVE, 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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