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

$199,900

94-073 Leowaena Street, Waipahu

Great opportunity to tear down and build home of your desire. Centrally located neighborhood in the heart of Waipahu-close to upcoming Monorail with easy access to H1.

  • Beds3
  • Baths2
  • MLS201701212

property image

$425,000

91-228 Makalauna Place Unit 33, Ewa Beach

This is a detached single family home; 3 bedroom, 2 bath in popular Ewa Gentry Cortebella with a floor plan featuring a master suite on the ground floor. It is tenant occ...

  • Beds3
  • Baths2
  • MLS201701214

property image

$370,000

415 South Street Unit II 202, Honolulu

Get in on the ground floor of Kaka'ako where you can live, eat and play. This unit offers tree top views with a neighborly feel and quick access in and out of the buildi...

  • Beds1
  • Baths1
  • MLS201700619
  • Bldg.One Waterfront Tower

property image

$359,900

87-1042 Kaiamekala Street, Waianae

Located in Sea Country subdivision, no homes on the back of the property and located in a nice neighborhood. Only HOA fee, $55.00 per month walking distance to the swimm...

  • Beds3
  • Baths2
  • MLS201700902

property image

$364,000

46-232 Kahuhipa Street Unit D204, Kaneohe

Spacious 2 Bedroom 1.5 Bath Condo/Townhouse in Kaneohe. New Carpet and living room tile. Great Location. Close to freeways, parks, shops, restaurants and Windward Mall. W...

  • Beds2
  • Baths2
  • MLS201700842
  • Bldg.Nani Koolau

property image

$265,000

92-1148 Panana Street Unit 339, Kapolei

Incredible condo in Kapolei. 2 bedrooms 1 1/2 baths. Open kitchen with wonderful counter tops. Close to all

  • Beds2
  • Baths2
  • MLS201700718
  • Bldg.Palehua Villas

property image

$344,900

91-1058Q Kekuilani Loop Unit 1503, Kapolei

This is a HomeSteps property. This property is eligible under the Freddie Mac First look initiative through 1/31/2017. HomeSteps First look program, no investor offers ...

  • Beds2
  • Baths1
  • MLS201700702
  • Bldg.Kekuilani Villas

Free Daily Email Updates

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