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Stephanie Lefew's Real Estate Blog

Tampa Bay Real Estate News

By Stephanie LeFew | Agent in Tampa, FL

Tampa REOs - Tampa Bank Owned Homes - Video Tours & Pictures Here

If you don't like waiting for months for a response to your offer to purchase, Bank Owned Properties may be the way for you to purchase a home at a terrific price.  These are homes that have already gone thru foreclosure and the bank now owns them.  The Bank had to pay a tremendous amount of money to foreclose on the house as well as they have all the mounting expenses and headaches associated with a portfolio of vacant homes, where they are making no money on them as they sit there vacant.  The Bank is a a motivated seller!

Click Here if you would like to see Bank Owned Bargains for Sale in Tampa - condos, single family homes, townhomes or townhouses, villas, waterfront homes, luxury properties, homes with acreage, equestrian properties.

When making an offer on a pre-foreclosure it could take as long as 6 weeks to 3 months or longer to get a response on an offer and be able to close.  You have be be very patient and have a pretty open time line on the date you have to move in when considering a pre-foreclosure.

With a bank owned home, your realtor should get a response from the Bank within a day to a few days -- much quicker response than a shortsale.

The Bank will very often will price the house extremely low in order to draw a lot of attention to it.  The Bank would love to get multiple offers and to pick the the highest and best offer - that's great marketing on the bank's part - basically performing an auction with the house going to the highest bidder. 

When making an offer on a bank owned home, you have to keep in mind that the house 99% of the time will be sold as-is with no repairs.

Some Bank Owned Homes may be in near perfect shape - move in ready, while others are really beat up, depending on the mood of the person that owned the home before the bank did. I always advise my home buyers to pay for a home inspection done so that the home buyer has a better idea what works and what doesn't, also the life left on the roof, etc.

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If you have any questions, please feel free to contact me any time. I am here for You.

Looking forward to your calls,
Stephanie LeFew
Tampa Home Buy Realty
Realtors Serving Hillsborough, Pasco, Hernando & Pinellas Counties
All Services are FREE to Buyers
Buyer Incentives Available - Sharing up to 20% of my commission with you when you purchase a home with me as your Realtor

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