This Weeks Kauai REOs
Just as predicted mainland lenders are catching up on their foreclosure inventory on Kauai and more Bank Real Estate Owned (REO) properties are coming up for sale on Kauai. A common questions prospective buyers ask me is if they can buy the property prior to it coming on the MLS or can they buy the property directly from the bank. The answer is “No”. The banks are very systematic in their sales processes. Once they come up in their inventory, the process begins and in most cases is managed through computer web based systems. Most of the agent communication is even done through a web based system. Although there usually is a “live” contact in the case of OCWEN Bank that contact has been outsourced to India. So if you are hoping to buy a bank REO it is best to ask your agent for the Banks purchasing procedures to be sure your offer does not get rejected because of techinical issues.
Here is an updated Kauai REO list:
NEW
#1. Kauai Beach Resort Condo #2304. Studio condo in an oceanfront resort complex. $279,900. MLS#209739
Current listed REOs on Kauai are: (no price changes since last blog)
#2. Villas of Kamalii at $699,999 in escrow and due to close in May 29, 2008
#3. 4243 Waiahi Street, Hanamaulu. MLS#209447. In escrow due to close May 2008.
#4. Islander on the Beach #168 condo. MLS#210506 for $200,000.
#5. 5309 Kualono St, Kapaa, SFR 3/2 Reduced at $399,000. MLS#207359
#6. Halelani Village, Lihue, Condo 3/2 Reduced at $294,900. MLS#207665
Upcoming:
#7. 4062-M Blackstad Rd (Off Koloa Road) 2 homes and guest cottage on over an acre. A fixer upper for sure.
#8. Puamana 26B, Princeville condo. A 2 bedroom 2 bath unit. No price yet.
#9. Laipo Road , Kapaa, 3 bedroom home should come up this May
#10. Kapahi 2 bedroom 1 bath home, great location. No price yet. Address can be revealed once the occupants are gone.
#11. 2 homes on the rim in Wailua Homesteads. Previously listed for over a million.
#12. 4 bedroom 2 bath home in Kilauea.
Be sure to email me julie@hisemail.net if you want to be put on our REO email list for immediate updates on REOs listed by Kauai Dreams Realty. You are also welcomed to email me with any questions you might have in regards to buying REO or foreclosure properties.
Aloha Julie Black