During the last recession, there were many foreclosures and owners who were “upside down” with their mortgages. This created opportunity for the people who purchased these foreclosed properties. At Hawaii Homes International we specialize in foreclosure properties and short sales (pre-foreclosure) properties on Oahu and can assist you in buying these foreclosures on the island of Oahu, Hawaii.
There are a few ways to find foreclosures on the island of Oahu, Hawaii. One way is to track judicial and non-judicial foreclosures. A judicial foreclosure involves a lawsuit where the creditor (bank) obtains the court’s permission to foreclosure on the home. A non-judicial foreclosure is one that exercises the power of sale that every conventional mortgage has in it and allows the bank to foreclose without going to court. To pursue purchasing these types of foreclosures has substantial risk associated with it. In most cases, you do not get to view the property and a non-refundable deposit is required upfront at the auction. You are also typically required to close quickly, usually within 30 days. There is no home inspections or financing contingency allowed, as well as any other contingencies. You could also run the risk of inheriting a tenant that occupies the property and may need to go through the trouble of evicting that tenant if need be and there are even some circumstances where you are not allowed to evict the tenant right away. For these reasons, buying a foreclosure at a judicial or non-judicial auction has substantial risk associated with it and because of these risks, we would not be able to assist you with these types of foreclosures. However, we can assist you with different types of foreclosures that are lower risk.
The other way to purchase foreclosures or pre-foreclosures (short sales) is directly through the bank or seller. You do not need to call the bank directly but instead, work with a good real estate agent that knows how to find bank owned and short sales (pre-foreclosures). The banks that take back the property at foreclosure typically hire a local real estate broker to list the property. These banks have no emotional connection and therefore are more motivated to sell than a normal seller. In some cases, they do not fix the property up and get it ready for sale as-is, which could create a potential opportunity for a discounted price since the property will not show as well. Our agents at Hawaii Homes International can help you with these types of foreclosure properties. See the list located below for a sample of properties available on the island of Oahu, Hawaii.
In regards to a pre-foreclosure, sellers usually elect to sell the property through a local real estate agent prior to losing the home through foreclosure. These pre-foreclosures are also known as short sales. A seller that lists their home as a short sale (pre-foreclosure) is considered “upside down” on his mortgage, meaning the seller owes more to the bank than the home is worth. In these situations, the seller has recently stopped paying or hasn’t paid the bank in months or even years, which puts the seller even further “upside down” on his mortgage. These sellers are highly motivated to sell. Although these sellers are highly motivated to sell, they need to get permission from the bank to sell it “short”, which means selling it for less than their amount owed on their loan. Just because the seller is upside down on his mortgage and has stopped paying his mortgage, it doesn’t guarantee the bank will allow a short sale. There are lots of reasons why a lender or bank won’t allow a short sale, but the situations are typically complex and there are a number of factors for the bank or lender to consider in their decision. As a buyer interested in buying a pre-foreclosure or a short sale, keep in mind that it does take time for bank approval of the sale and there have been instances when a pending property actually gets auctioned at judicial or non-judicial foreclosure sale instead. It is important for the listing agent to keep in close contact with the bank to help prevent this. Our agents at Hawaii Homes International can help you with these types of pre-foreclosure/short sale properties as well. See the list below for a sample of properties available on the island of Oahu, Hawaii. For detailed daily updates on foreclosed and pre-foreclosed homes for sale subscribed to our website.
Aloha, and welcome home! Incredible opportunity to own your own piece of paradise at an affordable price. Enjoy the close proximity to lots of shopping including the reno...
Listing courtesy of Realhome Services & Solutions.
Great location! In the heart of Waikiki near shopping, restaurants, and more! Secure building with swimming pool and PARKING! Desirable end unit with lots of privacy an...
Listing courtesy of Foster Realty, Inc..
Price reduction!! 2/BEDROOM 1/BATH 600 SQ FT FEE SIMPLE SALT LAKE CONDO!! Desirable Cool & Breezy unit close to shopping, bus lines, schools. Gated building entry, on-sit...
Listing courtesy of Vylla Home.
Popular Royal Kuhio Three bedroom, three bathroom secured condo with two parking in the heart of Waikiki. Easy and quick access to shopping, dining and beautiful Waikiki...
Listing courtesy of Vylla Home.
Total square feet of lot being sold 10,234 square feet. TMK1-5-3-005-052-0001 5,331sqft. TMK 1-5-3-005-052-002 4,903 sqft. Both being sold for listing price. Beautiful mo...
Listing courtesy of Coldwell Banker Realty.
This is a HomeSteps property eligible under the Freddie Mac First Look Initiative through 1/21/2021. PANORAMIC VIEWS of WAIKIKI and DIAMOND HEAD!!! This SPACIOUS two bed...
Listing courtesy of CENTURY 21 Homefinders of HI.
The Camelot is especially a great fit for the home seeker looking for a place to call their own. The Camelot is known for its excellent amenities, for example, it includ...
Listing courtesy of Ron Corp..
Don’t blink and miss this spectacular opportunity to own a piece of Aloha in desirable Kaneohe. This two bedroom, two bathroom condominium features it all – location, an ...
Listing courtesy of Realhome Services & Solutions.
Highly coveted South Kihei condo that has been graciously refreshed with new paint, new fixtures and new appliances. Ground floor corner end unit is another plus as it f...
Listing courtesy of TLC Realty LLC.
Here is the best price value in Lanikeha. Maui's premier gated development on the Kaanapali hillside. With magnificent 180 degree ocean views and Lanai and Molokai island...
Listing courtesy of Fine Island Properties, LLC.
This is a HomeSteps property. This property is eligible under the Freddie Mac First Look Initiative through 11/19/2020. HomeSteps First Look Program, no investor offers t...
Listing courtesy of CENTURY 21 Homefinders of HI.
Corner unit, enclosed lanai with views of the park and mountains. Marble floors, built-in closet systems, this unit is waiting and ready for your special personal touche...
Listing courtesy of Locations LLC.
Home shows pride of ownership! Two parking one covered and one in front of unit door step, corner unit. Conveniently located close to schools, shopping and restaurant. Du...
Listing courtesy of West Oahu Realty, Inc..
Rare opportunity to own a piece of Aloha in the Ewa Beach and Kapolei area at an affordable price. Come see what all the excitement is about regarding the “Second City” o...
Listing courtesy of Realhome Services & Solutions.
Fantastic Opportunity to own a 3bd/ 2ba Townhome is Oahu’s second city. Just minutes form all of the conveniences of Kapolei. This place is just waiting for your special ...
Listing courtesy of Keller Williams Honolulu.
Centrally located 2bdrm, 2 full bath ground-floor unit w/2 assigned parking stalls at Parkglen in Waikele. Property is nearby community pool, recreation center, Waikele s...
Listing courtesy of HomeSmart Island Homes.
Large lot with deeded beach access and NO maintenance fees! Bring your design ideas and enjoy country living in beautiful Makaha with hiking, golfing, water sports, Far...
Listing courtesy of Foster Realty, Inc..
LIST PRICE REDUCED!!! This is a HomeSteps property. This property is eligible under the Freddie Mac First Look Initiative through 12/23/2020. HomeSteps First Look program...
Listing courtesy of CENTURY 21 Homefinders of HI.
Showings by appointment only
Listing courtesy of Luxury Homes International.
Ocean & Harbor views from this Ilikai apartment. Features remodeled and upgraded kitchen with granite counter top and remodeled bath Tastefully furnished. Enjoy life in ...
Listing courtesy of Ron Corp..
Don’t blink and miss this rare opportunity to own a piece of Aloha on the tranquil island of Moloka?i. Known for some of the highest sea cliffs in the world one of the lo...
Listing courtesy of RealHome Services & Solutions.
Gaze out at the ocean from this one-bedroom unit located in the iconic Ilikai Hotel located near Ala Moana Shopping Center and Waikiki. Walking distance from the beach a...
Listing courtesy of Island Premier Realty, LLC.
Golf Course Front Townhome with amazing views! Rare opportunity at a great price! Located in desirable Town Homes at Fairways Edge in Ocean Pointe. Split level floor plan...
Listing courtesy of CENTURY 21 Homefinders of HI.
Paradise Live! Great West Side Location. A rare opportunity to own a young, 3 level home with 3 bedrooms and 2 baths with a one car garage and spacious driveway. Open Liv...
Listing courtesy of Realty King LLC.
Single family detached home developed under Kaluaahu Gardens 6 unit CPR. Being sold in "As is, Where is" condition. 10,156 sq ft mostly level lot with room to expand. C...
Listing courtesy of Concepts Unlimited Inc.