Julia Vakulenko

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MLS# T3109661

Here is your opportunity to own in the sought after community of Ballantrae. Located in Cunningham Village, this home shows the pride of ownership. As you enter the front door you will find gorgeous new flooring in the area that can be used as a...
Visit this property in LAND O LAKES: 3712 BENERAID ST, LAND O LAKES

MLS# U8005774

Honey, stop the car. Get ready to fall in love with this charming home in a highly desirable area - less than a mile from Historic Kenwood. Roof and A/C replaced in 2014 along with full kitchen & bathroom renovations. Located on an oversized,...
Visit this property in ST PETERSBURG: 4363 4TH AVE N, ST PETERSBURG

MLS# U8005226

The Gem you've been looking for is now available. Updated features include a 2013 Roof, A/C 2015, exterior paint 2017, new double pane windows 2017, and new sprinkler system and sod 2017. The Florida room is perfect Air conditioned bonus area to...
Visit this property in CLEARWATER: 1220 MAGNOLIA DR, CLEARWATER

MLS# T3109781

Elegance in the heart of Panther Trace. The large covered porch greets you as you approach the home with its beautiful archways that add architectural flair to the exterior facade. With 5 bedrooms, 4. 5 baths, there is plenty of room to entertain...
Visit this property in RIVERVIEW: 11619 BALINTORE DR, RIVERVIEW


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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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