There is no question bank owned homes in Brandon are some of the best deals you can find. When considering purchasing a bank owned home there are some things you should know before buying. If the home is owned by Fannie Mae then you are going to pay the doc stamps on the deed, title search and exam, and title insurance where it is customary costs that are paid by the seller here in the Tampa area. You still can negotiate on the closing costs but these fees need to be taken into account.
Bank Owned homes most of the time will be sold as is with right to inspect, which means you can have the home professionally inspected but the bank is not going to warrant any repairs that the home inspector finds but you do have the right to walk away if the home has more repair cost than the amount negotiated in the contract.
Title Companies that are hired by the banks can be the most frustrating aspect of the transaction, many of these companies have a large amount of closings from these bank owned homes and don’t have the staff to properly handle the transaction the way it should be handled, this is speaking from experience in dealing with various different bank owned homes. Most of the times the title company will not be from your local area and will be from a different part of the state, the company will hire a mobile closer who will arrange a place to sign the documents to close.
These are a few things to consider when buying a bank owned home. You should consult a professional Realtor who has the experience to help you purchase a bank owned home or also called reo homes or foreclosure homes .Providence Lakes is a great central located community in Brandon. Home prices currently range from $145,000- $212,000. Hoa fees are aproximently $315 annually. You are just minutes from shopping and restaurants.
Our team is please to announce we are now full force into our property management services division and have had great recent success in helping property owners find and secure quality tenants as well as provide outstanding property management services.
With our heavy internet presence and marketing campaign our recent homes for rent have had minimal downtime and have been rented in record timing which in turn keeps the cash flow coming for the property owners.
Although we have rented many homes over the years our team is more than ever capable of handling numerous homes to manage and look forward to earning your business as your Brandon property managers.
If you are an investor and looking to purchase now is a great time to buy with home prices bottoming out soon now is the opportunity to potentially to have positive cash flow. We can help you purchase a home, secure a qualified tenant and manager your home all within our real estate team. Don’t fall in the trap of using an agent that just wants to sell you a home and drop you, We are truly your full service real estate team.