Property Q&A in 33594>Question Details

Amy, Other/Just Looking in Valrico, FL

I did some research.This is a bank owned house now. How do I find out what bank ownes the house? Thank you,

Asked by Amy, Valrico, FL Sat Jan 17, 2009

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Dear Amy,

This is listed as a preforeclosure "short sale" and the Realtor MLS system says it only allows Cash or "Conventional" financing. The owner of the house may have signed away their rights to the house to an investor who will attempt to get the bank to approve the lowest possible price and then immediately "flip" the property for as high a price as possible to a buyer with Cash or with 20% downpayment. FHA financing will not allow a "same day" flip and requires the current owner to have had ownership for at least 90 days. There are no appliances in the home but that can be overcome by adding in your own used appliances to allow it to pass the FHA requirements.

Find a Realtor to help you and if you need FHA financing with only 3.5% down then don't waste your time and have the Realtor verify whether or not there is a "middleman" that will prevent an FHA sale. Unfortunately there are many listing Realtors who get involved in these schemes. Although it may be perfectly legal, it does not appear to be in the best interest of the Seller or the underlying investor on the mortgage, but the best interest of the middleman investor who will make thousands of dollars with little or no money invested.

Hope this helps.

Alma Rose Kee, P.A.
Charles Rutenberg Realty, Inc.
0 votes Thank Flag Link Fri Sep 25, 2009
I am sorry you have gotten wrong information. This home has been listed in the MLS sytem since 04/15/2008. It is still listed. If you would like information please feel free to contact the listing agent who is with our group at 813-624-3332 Stephanie Lefew. Her website is

Thank You,
Deana Cuevas -Realtor
Solaris Realty of Tampa Bay, Inc.
(813) 966-3907
0 votes Thank Flag Link Fri Sep 18, 2009
Hi Amy,

I haven't done the research yet but some lenders are allowing tenants to stay in the house until the lease expires. That may be the case with this one.

Hope this helps.

Alma Rose Kee, P.A.
Charles Rutenberg Realty, Inc.
0 votes Thank Flag Link Sat Jan 17, 2009
This property is Temporarily off the market. The tax records are not showing it as a bank owned property as of yet. I am currious as to where you found out your information.

Web Reference:
0 votes Thank Flag Link Sat Jan 17, 2009
The property is actually in the foreclosure process and the bank does not have complete ownership. It was taken off the market in October which makes me think that the owner may have filed a suggestion of bankruptcy which would freeze assets for about 90 days. The property may be back on the market by the beginning of February but you would have to do a short sale and quickly since the lis pendens was filed in 2008. I can send you the temporarily off market listing to give you some further information about the property and the listed price. Please contact me if you would like further information.
0 votes Thank Flag Link Sat Jan 17, 2009
You make a 72 hours class, pass the exam, then pass the state any dues and fees, provide your finger print.
Then you choose your brokerage....and within 1 year complete a 45 hours post licence course, do another voila', you will have your answer.

Alternatively, you can hire a buyer agent....

Good luck,
The Gate Keeper.
0 votes Thank Flag Link Sat Jan 17, 2009
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