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.
Are you looking for a home to renovate? This is a single family detached home under CPR that is leasehold with just under 14 years left on the lease. Close to shopping ...
Listing courtesy of CENTURY 21 Paradise Intl..
Welcome to Makaha Surfside! This 1 bedroom, 1 full bath unit presents panoramic views of the ocean, coastline, mountain and sunset right in your living room. Have peace o...
Listing courtesy of Vylla Home.
Fee Simple. Calling all neighbors looking for a great investment in an amazing location. This 1971 built condo sits on the 15th level with approximately 469sqft of living...
Listing courtesy of REALHome Services & Solutions.
This is a Foreclosure Auction sale. Open House Saturday 7/29 and 8/5 1:00 to 4:00 pm. Auction Monday 8/21 @ 12:10 pm at 1st Circuit Court Building lanai, 777 Punchbowl ...
Listing courtesy of eHAWAIIproperty.com.
Beachside Bliss in Waikiki: Unbeatable Views, End Unit with Large Lanai, Parking & More Indulge in the epitome of beachside living just two blocks from the stunning Waik...
Listing courtesy of Keller Williams Honolulu.
Welcome to this serene home located in the quaint community of Makaha Valley Plantation. This ground floor end unit is tucked away in a quiet grassy corner. Enjoy an inti...
Listing courtesy of Coldwell Banker Realty.
Great mountain views along the Ala Tai await you at Seaside suites. Close walk to Waikiki beach, and great restaurants and shopping. The unit features a recently updated ...
Listing courtesy of First Hawaiian Realty.
Location says it all!!! Welcome to the exquisite residence at King Manor. This rarely available 1-bedroom apartment with a washer and dryer in the unit is situated just...
Listing courtesy of Coldwell Banker Realty.
Enjoy all that Downtown Honolulu has to offer! This 2 bed, 2 bath, corner, end unit in the Honolulu Tower of Harbor Square, is at the tail end of a beautiful renovation. ...
Listing courtesy of Island, REALTORS.
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.
Renovated 2-bedroom, 1-bath condo unit at Kokea Gardens with an open back lanai. Short distance to business establishments such as: Costco, Times Market and Kam Shopping ...
Listing courtesy of Legal Realty.
Court ordered Partition Sale. Civil Number 1CCV-22-0001329. This listing is a court ordered partition sale between 3 owners. 2 owners currently reside in the property. Bu...
Listing courtesy of Michael Moran & Associates.
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..
Here is an opportunity you have been waiting for. This property is located on the north shore of Oahu in Hauula just down the street from the beach, offering the perfect ...
Listing courtesy of Stott Real Estate, Inc..
Cute and cozy single 4 bedroom, 2 full bath single family detached home w/a carport, 4 extra parking spaces within the enclosed fenced area of the home. Home is located a...
Listing courtesy of HomeSmart Island Homes.
Must see to appreciate the panoramic views and location of this spacious 4 bedroom, 2 full bathroom located in the desired Palehua Gardens. home is a converted ADA unit ...
Listing courtesy of Advantage Properties Unlimited.
This is a spacious 3 bedroom, 2 1/2 bathroom townhouse is in excellent location across Pearlridge shopping center, nice ocean views, close to Golf course, restaurant, b...
Listing courtesy of West Oahu Realty, Inc..
Here is your chance to own a single family home in town for less than assessed value! Located on a flag lot for more peace and quiet from the main road.
Listing courtesy of TLC Realty LLC.
Wonderful end unit, Tri-level home in a excellent location! Kitchen renovated with cherry wood shaker cabinets and granite counter tops. Three lanai's; one off the kitch...
Listing courtesy of TLC Realty LLC.
Enjoy garden and pond views from your very own private lanai here in Pu'u Alii! Conveniently located near shopping centers, restaurants, gas stations and the Windward mal...
Listing courtesy of Vylla Home.
House+ohana with two car garage on house, and carport on ohana, on a full acre in an excellent location, just a couple of minutes from downtown Hana, and literally across...
Listing courtesy of Coldwell Banker Island Prop(S).
Aloha Waimanalo neighbors looking for a great investment. This 1967 built single-family residence sits on an approx. 6153sqft lot with approx. 904sqft of living space. It...
Listing courtesy of REALHome Services & Solutions.
What a deal!! Welcome to the beautiful Kahalemanu complex in Temple Valley, located on the serene windward side of Oahu! This 4 bed/2 bath, split-level unit is a hidden g...
Listing courtesy of Island, REALTORS.
Located on a quiet street just steps from the beach, this quaint little 808 sqft home is ready for the right buyer to make expansion a reality. This 3 bedroom - 1.5 bath...
Listing courtesy of Coldwell Banker Realty.
Highly sought after spacious unit in the Holaniku Hale complex. Situated near parks, schools and shopping. Must see before this opportunity is gone!
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.