Julia Vakulenko

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MLS# U8035842

Pride of ownership and impeccable attention to detail enhances the casual yet elegant feel. This is a turnkey dream beach home just a few steps to the world famous NUMBER 1 beach in America. North Clearwater beach is a unique residential beach...
Visit this property in CLEARWATER BEACH: 881 LANTANA AVE, CLEARWATER BEACH

MLS# W7809910

Enjoy an affordable country club lifestyle. Screened lanais on both front and back, both with privacy. , even the driveway is extended. ….
Visit this property in HUDSON: 8517 PAVILION DR, HUDSON

MLS# U8035725

You have found your Belleair home. Located on a quiet cul-de-sac in a neighborhood of custom homes. Large 0. 40 acre lot.
Visit this property in BELLEAIR: 302 EASTLEIGH DR, BELLEAIR

MLS# U8036362

Beautiful Snell Isle townhome in waterfront community features boating, kayaking, waterside pool/spa/firepit as well as elegant clubhouse and gym. Conveniently located in this residential neighborhood just minutes to downtown St. Contemporary wood...
Visit this property in ST PETERSBURG: 1325 SNELL ISLE BLVD NE #102, ST PETERSBURG


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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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