Julia Vakulenko

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MLS# T2935736

Beautiful Ballantrae Home on Conservation/Pond Lot. This spacious home has over 3400 square feet of living space and features an oversized 2 car garage, formal living room and dining room, large bonus/entertainment area, bedroom and full bathroom...
Visit this property in LAND O LAKES: 3947 DUKE FIRTH ST, LAND O LAKES

MLS# U7853687

This 3 bedroom, 2 bath home is very well maintained. The split plans gives the Master suite it's own side of the house, with dual closets for plenty of space. The Hall bath offers a shower/tub combo off the two bedrooms. No HOA.
Visit this property in CLEARWATER: 2201 ALICE LN, CLEARWATER

MLS# A4215874

Will not last long. Remodel complete with kitchen having gorgeous level 4 granite & Samsung stainless steel appliance package. There is a two car garage with laundry hookups, new epoxy floor and garage refrigerator. The backyard is private,...
Visit this property in SARASOTA: 3553 65TH AVENUE CIR E, SARASOTA

MLS# T2939461

Head upstairs and walk through French doors to the large Master Bedroom with tons of natural light, tray ceiling, and an on-suite with soaking tub and shower, dual sinks with a large walk in dressing room/closet. The UPSTAIRs inside utility room...
Visit this property in TAMPA: 6306 N 13TH ST, 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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