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.
Kaneohe one bedroom condo with low maintenance fee's. Washer/Dryer hookup is located on the lanai for your convenience. Walking distance to bus stop that is located on...
Listing courtesy of CENTURY 21 Paradise Intl..
Charming single family with 3 bedrooms and 2 baths. Fixer with great potential. Schedule your showing today.
Listing courtesy of Trillionaire Realty.
Interior completely remodeled and ready for you to call home! Freshly painted in and out, all new ceiling fans, flooring, windows, and much more. Property is enclosed wit...
Listing courtesy of allure Realty LLC.
A diamond in the rough awaits you in Keaau, Hawaii. Imagine living in paradise in a single-family residence with approximately one acre of land. Roll up your sleeves and ...
Listing courtesy of REALHome Services & Solutions.
Conveniently located in the vicinity of the Waipahu Shopping Plaza and Pacific Supermarket, this spacious three bedroom, top floor unit is ready to move in or to be custo...
Listing courtesy of Coldwell Banker Realty.
Rarely available Penthouse unit with nice ocean views stretching from Diamond Head to Waianae! Penthouse units have 2 private elevators in a secured lobby.
Listing courtesy of TLC Realty LLC.
Now's your chance to own a piece of paradise! This partially renovated, 2nd floor, corner end unit, features ceramic tile and wood parquet flooring, and butcher block woo...
Listing courtesy of Island, REALTORS.
Aloha from the Waikalani Woodlands. This two-bedroom one full bath condo is the perfect Hawaiian getaway. Put your designer touches on the interior to make it your dream ...
Listing courtesy of REALHome Services & Solutions.
Large Corner end unit. Across from beautiful white sand beach and nearby park, with granite, marble and ceramic throughout, comes with one parking stall. This is a Short...
Listing courtesy of Central Island Realty.
Attention all contractors!! Everything has been removed and is ready to be put back together. Bring your electrician, the plumber, and the cabinet maker. Located in Oc...
Listing courtesy of CENTURY 21 Paradise Intl..
Searched high? Searched low? Maybe renovation is the way to go! Located in the beautiful Temple Valley neighborhood, this 2-bed 1-bath unit has good bones and is ready to...
Listing courtesy of Coldwell Banker Realty.
*Leasehold w/fee available* Designer units like this are rarely available. Lakefront and ground level access to Ka’elepulu Pond. It features a large lanai, custom kitchen...
Listing courtesy of REALHome Services & Solutions.
Popular floor plan in Iolani Court Plaza! This 2 bedroom, 2 bath unit has an enclosed lanai. Come and remodel to your liking. Enjoy the many amenities including tennis c...
Listing courtesy of Hawaii House Inc..
Situated within walking distance to Tamura's Supermarket....and priced below assessed value! Here is your chance to make this home your own! Larger lot size in a quiet ...
Listing courtesy of TLC Realty LLC.
Offering for sale in the Nob Hill community a 3-bedroom, 2.5-bath with 2 assigned parking town home. This property does need your TLC and will be sold strictly AS IS. Own...
Listing courtesy of Dream Home Realty Hawaii LLC.
Single family house with lots of potential located in Nanakai Gardens with No Association Fees. House is completely fenced-in with 1 car carport and space for additional ...
Listing courtesy of eXp Realty.
Aloha Salt Lake neighbors looking for a great investment. This 1994 built Fee Simple 2-bedroom condo has approximately 862sqft of living space, with a large lanai, in-uni...
Listing courtesy of REALHome Services & Solutions.
RARELY AVAILABLE. Vacant level lot in Kapalama. Zoned R-5. Contractor's dream opportunity. Tax Assesssed value 2023 $805,700. Appraised value as of 2-2-2023 is $650...
Listing courtesy of Ivy K Realty, LLC.
RARELY AVAILABLE. Vacant land zoned R-5. Level lot in Kapalama. Contractor's Dream opportunity. Tax assessed in 2023 $805,700. Appraised value as of 2/2/2023 is $650,000...
Listing courtesy of Ivy K Realty, LLC.
Cute and cozy single family detached home across Maili beach. Enjoy the perks of snorkeling, diving, fishing, sunsets, surf spots, and restaurants. Nearby Waianae Mall, W...
Listing courtesy of HomeSmart Island Homes.
Highly sought after ground floor unit offering quiet and privacy with a large, fenced backyard area. The kitchen is equipped with new matching appliances. Bathrooms have ...
Listing courtesy of Island Premier Realty LLC.
Back on the Market! Your chance to own this 2-bedroom, 2.5-bath townhouse in Ocean Pointe. It has a nice backyard. It may need your magic touch to turn it into a lush gre...
Listing courtesy of Legal Realty.
Privacy...tucked away in corner of complex!!! Ground Floor 2-bedroom, 2-bath with 2-parking. Conveniently located in Aiea...near schools, markets and freeway access. Us...
Listing courtesy of Realty 2000, Inc..
Customizable detached single family home in a quiet street, on a cul-de-sac, in the sought-after Ewa Beach area. The yard is fully fenced-around for privacy, and features...
Listing courtesy of Coldwell Banker Realty.
Situated on a quiet dead end street, this attached SFD is waiting for a loving family to call this their HOME. Spacious backyard that has ample room for BBQs and enterta...
Listing courtesy of TLC Realty LLC.
Based on information from the Multiple Listing Service of Hicentral MLS, Ltd. Listings last updated on . Information is deemed reliable but not guaranteed. Copyright: 2023 by HiCentral MLS, Ltd. IDX information is provided exclusively for consumers' personal, non-commercial use. It may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.