Julia Vakulenko

Featured properties: See ALL

Tampa4U.com

Newest listings

MLS# U8103392

To be built. A rare find. This modern design home features over 4500 square feet of living space, including five bedrooms and five and one half bathrooms, a gourmet kitchen/great room combo, 11 1/2 foot ceilings, and large walk in closets. Other...
Visit this property in ST PETERSBURG: 1298 CORDOVA BLVD NE, ST PETERSBURG

MLS# U8101479

4,192 square feet of elegance, including a great room, bar area, dining and a den/office/4th bedroom, all with magnificent water views, and a kitchen with breakfast bar and family room for casual entertaining. Two side-by-side underbuilding...
Visit this property in CLEARWATER: 521 MANDALAY AVE #1402, CLEARWATER

MLS# W7826228

Kitchen is designed with distinction, featuring 36 Subzero refrigerator, Wolf range cooktop, soft close wood cabinets, quartz counters, separate sink for prep, 12 ft island, and eat in area. Expansive, versatile room , convenient at home office,...
Visit this property in CRYSTAL BEACH: 885 SEAVIEW CIR #20, CRYSTAL BEACH


Tampa4U.com

Tampa Short Sales

When a homeowner needs to sell their property, but the sale is going to be less than the mortgage amount, the homeowner must seek approval from their lender in order to make a short sale.

Banks often approve a short sale due to the amount of time and money that a foreclosure process brings to the lender. Some lenders will see short sales as an easy way to cut losses and move on. This way, the lender gets the proceeds from the sale, and the owner would be forgiven for the rest of the debt still owed. This cannot work for owner who has the ability to make payments, owns other high equity real estate, or lied about something on the loan application. It is not an easy way out of a bad investment.

From the buyer’s view, purchasing a home from a short sale can be a long process that ends up leading nowhere. It could be as long as 90 days to get a response from the bank to approve an offer that was accepted by the seller. Buyers can often get frustrated and just walk away from the situation. There is no great bargain in purchasing a short sale, so there is no motivation for a buyer to jump at this chance.

If the bank does approve a short sale, the buyer will have to close the deal in about two weeks. This means that a buyer must have inspections and appraisals ready to be done, as well as the financing. Most short sales now do not get approved and the homes are ending up in foreclosure. This way, the bank has the property clear of any secondary loans and they can list the property as an REO on the market.

 

The Home Buying Process:

 

Types of Resale in Today's Market:

 

Taxes, CDD, HOA, and Homestead:

© Copyright 2008 - 2016