Kauai Real Estate - Paradise Found

Kauai Foreclosure Updates

Although Kauai market values have remained stronger than many areas of the nation, we have seen an increase in foreclosures here as well.  The uniqueness of Kauai real estate makes foreclosure sales challenging.  It's important to work with an experienced agent who can help you. 

• Sellers - If you are facing a possible foreclosure, please know there are options available. You'll find some helpful articles on the side of this page. More importantly, it's critical to meet with an agent and a lender to explore what may be possible to save your home and/or save your credit. Waiting will only make things worse. Please call me right away for a confidential consultation and we'll start looking at solutions for you.
• Buyers - Whether it's making an offer on a pre-foreclosure property through the MLS, or auction bidding...the Kauai foreclosure market poses some unique opportunities and challenges. As part of a nationwide network of Short Sale Specialists, Susanna Kunkel has a unique set of skills and resources to help both buyers and sellers successfully close transactions in this exciting, and challenging market. For more information, please send your questions to Info@Kauai-Foreclosures.com.  See below for information, market updates and new listings:

What is a REO?  Real Estate owned, otherwise known as an REO, is real property owned by a bank or lender.  Lenders commonly acquire REOs through the foreclosure process, but can also acquire ownership by other means, such as a deed-in-lieu of foreclosure (homeowners, be aware this is the same as foreclosure on your credit). 

How is an REO Sold? When it comes time to sell an REO, lenders often use a licensed real estate agent, and list the property on the Multiple Listing Service (MLS).  Working with an REO agent is no different than in a typical real estate transaction, other than there may be different forms required by the lender.  Offers and counteroffers are common.  Although there are certain differences that buyers need to consider...

Things to Consider When Buying a REO:

• REOs are usually sold "As Is"
• The buyer may need to perform maintenance work, adding to the overall cost of the property
• There are often penalties assessed for a buyer's inability to close by a certain date
• Buyers may be responsible for the payment of any homeowner's association, condominium association or other outstanding assessments
• If the property is occupied, the Buyer is usually responsible for evicting the occupants
• Closing costs are often paid by the Buyers

In addition to the news and articles on the side of this page, here's more information, courtesy of RealtyTrac.com:

• REO Frequently Asked Questions
• Foreclosure Overview
• How to Buy Foreclosures

6340 Kaahele - MLS 214615 - offered at $429,997 - JUST LISTED!

Located in the desirable Wailua Homesteads area, close to the rim of Wailua River, this 3 bedroom / 2 bath home offers many possibilities for an investment or primary residence. Quiet location in good neighborhood.  In need of TLC.  Bath needs to be redone.  Roof may need to be replaced.  Contact me today for information on how to make an offer.