Julia Vakulenko

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MLS# U8025386

Newer appliances, thermal windows and AC complete the package. An extra bonus is the unit is being solid furnished and all of the items have very little wear and tear as the home has only been occupied seasonally since purchased. (please ask for...
Visit this property in DUNEDIN: 632 EDGEWATER DR #737, DUNEDIN

MLS# U8025517

The exquisitely resurfaced and polished terrazzo floor runs seamlessly through the house and gives it an elegant finish that can't be missed. The A/C is brand new so you can rest assured that the perfect temperature will circulate at all times....
Visit this property in ST PETERSBURG: 2800 67TH ST N, ST PETERSBURG

MLS# W7807122

Much desired ground floor unit in the community of Wedgewood in Beacon Woods. This is a 55+ and up community and this condominium has a wonderful view of the golf course. This is the place to call home. Furnishing are offered separate from the...
Visit this property in HUDSON: 13008 WEDGEWOOD WAY #A, HUDSON

MLS# U8025537

This remodeled executive home has distinguished curbside appearance along with its graceful interior. The lovely foyer entry overlooks large heated saltwater swimming pool. This home boasts of many desirable upgrades including a new beautiful...
Visit this property in TAMPA: 1605 MAGDALENE MANOR DR, TAMPA


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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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