Hawaii Realty International

Realities of Foreclosed Home Buying in Hawaii

Buying foreclosed homes is a great way to obtain awesome deals on property either for your family or for the serious real estate investor. If you are an investor looking to make a profit off of your purchase, investing in foreclosed homes at bargain prices is a great way to begin to make a larger profit in a short span of time. However, no matter which category you fall into, the biggest reality surrounding foreclosed homes is the fact that many of these properties will be in various degrees of disrepair. As a result, it is important that you take this into consideration as well is factored into the price you pay for your foreclosed home.

What are Foreclosed Homes?

In short, foreclosed homes are properties that have been taken back by lenders due to the fact that the previous homeowners weren't able to make their monthly payments on their property. Unfortunately, in many cases when the lender takes these homes back, their state may be one of distress. This is oftentimes due to the fact that the home owner, while in the process of pre-foreclosure, was in such financial distress that they are unable to keep up with necessary maintenance. Also, depending on how long the home stays on the market as a foreclosure, this means that this vacant property has had time to collect dust among other things.

The downright shabbiness of foreclosed properties is the largest reason why prices are so low. Additionally, prices are also low due to the fact that lenders are seeking to recoup their investment in a way possible, and this includes selling off the property at a low or part in price. For that reason, lenders are willing to take less money than what is old on the property.

Hidden Realities of Repair

Unfortunately, many homeowners are disgruntled about losing their homes. To add insult to injury, there may be cases where homeowners intentionally damage their properties. Since they have nothing left to lose, it does not hurt the homeowner to damage their property leaving the lender was no other choice but to sell the home as-is or lose money by trying to fix the home up for resale.

Fortunately, these types of homes present themselves as a great buy for real estate investors or new homeowners who do not mind putting in the time or money to make the necessary repairs. Because you are willing to invest in such a troublesome property, your pay off at the end is that you not only save big on your purchase, but that you are also able to buy more home for your money in a neighborhood that you may not have been able to afford in the first place.

Forcelosure Articles


Buying a Hawaii Pre-Foreclosure House

Advice on Preventing a Hawaii Foreclosure

 


Options when dealing with Hawaii foreclosure


Prevent a Hawaii Foreclosure Before It Starts


Preventing Foreclosure on your Hawaii Home

Saving Your Hawaii Home from Foreclosure

Stop a Hawaii Foreclosure Sale

Featured Oahu Foreclosures

property image

$268,000

95-031 Kuahelani Avenue Unit 241, Mililani

FIRST SHOWING & OPEN HOUSE will be 4/9/17, Sunday 2-5pm. REPAIRS IN PROGRESS: NEW paint, carpet, screens & refrigerator! "Sparkling Move-in Condition"! This is a GR...

  • Beds2
  • Baths1
  • MLS201706412
  • Bldg.Nahoa Apts

property image

$179,900

94-099 Waipahu Street Unit A311, Waipahu

Conveniently located in walking distance to shopping center and bus stop. Property is in need of repairs and will be sold "AS IS" Closely located to the up and coming Hon...

  • Beds2
  • Baths1
  • MLS201706457
  • Bldg.Leolua Regent

property image

$355,000

87-288 Saint Johns Road Unit A, Waianae

Recently built home that has great potential to be restored to its full look and capability! Good investment opportunity to bring in your personal touches to fill this h...

  • Beds3
  • Baths2
  • MLS201705574

property image

$390,000

87-116 Helekula Place, Waianae

Great opportunity for anyone looking for a fixer-upper! This home has lots of potential. Single family on nice size lot located in pleasant residential neighborhood.

  • Beds3
  • Baths2
  • MLS201706370

property image

$350,000

2121 Ala Wai Boulevard Unit 3203, Honolulu

Maintenance Fee includes Electricity. Very good location in Waikiki, Fantastic City, Mountain and Ocean Views! Pool, Sauna, BBQ 24/7 security with 9 guest stalls. The u...

  • Beds2
  • Baths1
  • MLS201706344
  • Bldg.2121 Ala Wai

property image

$211,300

Honolulu

Great Opportunity!!! Lovely corner unit with wonderful amenities, 24 hour security, closes to restaurant, International market place & waikiki beach.

  • Beds1
  • Baths1
  • MLS201706217
  • Bldg.Island Colony

property image

$229,900

95-269 Waikalani Drive Unit C804, Mililani

Bank-owned condo and a complete fixer-up condition. Bring your renovation ideas and improve to your personal taste. Located on the high floor with great tree top views. S...

  • Beds2
  • Baths1
  • MLS201706181
  • Bldg.Waikalani Woodlands

Free Daily Email Updates

  • Automated home searches
  • Favorite properties
  • Email updates
  • And much more…