Julia Vakulenko

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MLS# A4204155

Beautiful home on fenced in corner lot. Home was just re-done New roof, New AC, New Hot Water Heater, New tile, New Laminate floors and New kitchen all new stainless steal appliances. Back yard is fenced. Close to 41 and shopping.
Visit this property in BRADENTON: 910 ORLANDO AVE, BRADENTON

MLS# U7841208

Everything is NEW, new ceilings, new paint, new kitchen, new bathrooms, new flooring. Stainless appliances, every light fixture is new and LED, never change a light bulb again. Marble tile and granite on the fireplace, Kohler fixtures in both new...
Visit this property in OLDSMAR: 138 LAKESIDE DR #138, OLDSMAR

MLS# U7841044

Large master bedroom offers 2 closets with an en-suite bath. The kitchen can easily accommodate dinette set or extra storage cabinet. elevator building and updated laundry facility on the premises. All room sizes are approximate and must be...
Visit this property in BELLEAIR: 1706 BELLEAIR FOREST DR #238, BELLEAIR

MLS# W7636067

Short sale. Key exterior features are rain gutters, expansive lanai, concrete curbing with lush tropical landscaping including majestic palm trees & a custom-built gazebo/pergola in the fully-fenced backyard. Inside, the foyer & kitchen are tiled...
Visit this property in HOLIDAY: 3800 CARIOCA RD, HOLIDAY


Tampa4U.com

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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