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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


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Prevent a Hawaii Foreclosure Before It Starts


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Stop a Hawaii Foreclosure Sale

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94-1016 Kaukahi Place Unit J5, Waipahu — Ihona $399,900

Rare offering to own this ground floor 1 bedroom and 1 bath townhome at the desirable “Ihona” complex. The fenced-in lanai offers a secure outdoor area for small outdoor ...

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2724 Kahoaloha Lane Unit 1106, Honolulu image
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85-215 Ala Akau Street Unit G, Waianae image
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87-213 Helelua Street Unit 1, Waianae image
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1447 Kewalo Street Unit 907, Honolulu image
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Highly sought after location in town close to bus lines, shopping, parks and schools! Ode Rancho is a very well maintained secured and gated complex. Unit has a great f...

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1860 Ala Moana Boulevard Unit 702, Honolulu image
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Spacious 1180 sq ft living area.Plus 124 sq ft lanai to watch the passers by and the grounds of Fort DeRussy. Steps to the beach, Hilton Hawaiian Village Resort and Hilto...

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435 Seaside Avenue Unit 209, Honolulu image
435 Seaside Avenue Unit 209, Honolulu — Seaside Towers $325,000 ▼

Now's your chance to own a piece of paradise! This partially renovated, 2nd floor, corner end unit, features the option to have 2 bedrooms or a bedroom and an office with...

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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.

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