Julia Vakulenko

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MLS# U8005756

RARE ACREAGE in the Tampa Bay area. Lovely, secluded 4 bedroom, 2 1/2 bath home. Upstairs master has bonus room attached - possible office, nursery, dressing room; Garage conversion is a huge family room with french doors to driveway. Spacious...
Visit this property in TAMPA: 12402 PONY CT, TAMPA

MLS# U8005724

The spacious kitchen features stainless steel appliances, ceramic tile flooring and plenty of space for dining plus a pass-through window to the living room, great for serving when you’re entertaining. The kitchen also has a back door that opens...
Visit this property in LARGO: 226 MELODY LN, LARGO

MLS# T3109730

With every upgrade imaginable this home is not like the average. Over 3100 Square feet, 4 bedrooms and 3 ½ bathrooms, split bedroom layout so every room has privacy. This home as been meticulously and lovingly cared for, sparing no expenses. Make...
Visit this property in WESLEY CHAPEL: 27435 SILVER THATCH DR, WESLEY CHAPEL

MLS# T3109706

Kitchen fully opened and expanded with no wasted space. The fishing dock features water and electricity and is available as a day dock. Petersburg, the skyway and Sarasota. It rents easily, but also offers a great space for an owner.
Visit this property in TREASURE ISLAND: 9715 W HARRELL AVE #12, TREASURE ISLAND


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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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