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

$214,900

1778 Ala Moana Boulevard Unit 2705, Honolulu

Attractive Studio located in a great location. Freshly painted and new flooring. Just minutes to the beach, restaurants, shopping, parks and entertainment.

  • Baths1.0
  • MLS201512825
  • Bldg.Discovery Bay

property image

$379,900

84-130 Kapakai Place, Waianae

Single-family home under 400K! Over 1500 sq/ft living area & close to 6,000 sq/ft in land You must see it to believe! Call your agent today to book an appointment. This i...

  • Beds3
  • Baths2.0
  • MLS201512497

property image

$209,880

86-368 Kawili Street, Waianae

Location Location Location. This home is in need of major work. Bring your contractors for this one. Bank owned.

  • Beds3
  • Baths2.01
  • MLS201512406

property image

$274,900

87-251 Hookele Street, Waianae

3 bedrooms on large lot. Many possibilities to make it your own. Great for first time buyers and families. Near the beach to enjoy on a sunny day or to enjoy the sunset. ...

  • Beds3
  • Baths1.0
  • MLS201512250

property image

$294,900

3161 Ala Ilima Street Unit 1514, Honolulu

Great View from this 15th floor highly desired secured building. Close to shopping, freeway and bus line. Well-maintained bldg. with great amenities, guest parking, 24-h...

  • Beds2
  • Baths2.0
  • MLS201512104
  • Bldg.Century West

property image

$438,900

56-277 Huehu Street, Kahuku

Looking for a project? This is it! You can finally put all those ideas from the Do-It-Yourself Home Improvement shows into action. Just bring your imagination and tool...

  • Beds4
  • Baths2.0
  • MLS201511947

property image

$245,000

68-101 Waialua Beach Road Unit 301, Waialua

Escape the hustle & bustle of the city and enjoy country living. Be greeted with the Waianae mountain range and relax to the ocean view from your piece of paradise. A hig...

  • Beds1
  • Baths1.0
  • MLS201511938
  • Bldg.Mokuleia Surf

Free Daily Email Updates

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