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

$439,000

87-141 Kulahelela Place, Waianae

Nestled along the beautiful Ma'ili Coast in the charming Lokelani neighborhood, this lovely single-level 2 bedroom, 2 bath home is surrounded by Hawaiian Coconut, Kukui n...

  • Beds2
  • Baths2
  • MLS201818602
  • DOM2

property image

$400,000

87-117 Kulahelela Place, Waianae

Opportunity knocking! Own this home for less than the tax assessed value. Home is ready for buyer's personal touches. Priced to sell.

  • Beds3
  • Baths2
  • MLS201818552
  • DOM0

property image

$394,900

3138 Waialae Avenue Unit 118, Honolulu

Great opportunity to own at the amazing Regency Park! This 2/2 includes 4 parking stalls and has beautiful wood laminate flooring, freshly painted walls, and overlooks th...

  • Beds2
  • Baths2
  • MLS201818154
  • Bldg.Regency Park
  • DOM1

property image

$295,300

98-080 Uao Place Unit B3, Aiea

Looking to invest in Hawaii? Well this 2 bedroom 1 bathroom condo is the perfect investment for you! This home was built in 1972 and offers approximately 730 square feet ...

  • Beds2
  • Baths1
  • MLS201818547
  • Bldg.Pearlridge Sunset
  • DOM1

property image

$435,000

92-1335 Panana Street Unit 60, Kapolei

Great starter unit on perimeter ready to move in! Fresh carpet and paint and waiting for you to make it your own! This one won't last! Call today to see!

  • Beds3
  • Baths2
  • MLS201818288
  • Bldg.Makakilo Hale 2
  • DOM7

property image

$450,000

94-696 Lumiauau Street Unit RR7, Waipahu

Welcome to 2 bed / 2.5 bath within beautiful Village on the Green. Featuring 2/2 up and kitchen, living and half bath down, with cover lanai in the back and enclosed bac...

  • Beds2
  • Baths3
  • MLS201818028
  • Bldg.Village On The Green 2a
  • DOM5

property image

$228,500

98-521C Kamahao Place Unit 22, Pearl City

Nice quite community..Needs some upgrades bring your handyman..THIS PROPERTY IS LEASEHOLD NOT FEE SIMPLE!

  • Beds3
  • Baths2
  • MLS201817703
  • Bldg.Waiau Gardens Kai D
  • DOM12

Free Daily Email Updates

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