Hawaii Kai Foreclosures - What to Look for as a Buyer
Hawaii Kai doesn't have as many short sales or foreclosed properties as many other areas on Oahu, but we do have our share. While they can represent great buying opportunities, you have to be sure, as a buyer, you do your homework and pay for a thorough inspection. Here are some things to look for before you make an offer or bid at auction:
1. If appliances are missing, does it look like they were removed or ripped out? If ripped, look closer for other damage caused by possibly very angry owners.
2. Peeling, bubbling, discoloration can be red flags for water damage.
3. Mold follows water and humidity. You may need a special mold inspector. Look into cabinets, under the bathroom sinks, behind drawers - out-of-the-way dark places.
4. Blocked drains and pipes can be very expensive to fix.
5. Homemade renovations may have saved the previous owner money, but may cost you to redo or fix if not up to code and not done with a permit.
6. If surfaces have recently been painted, question why.
This is a very short and incomplete list, but hopefully will get you thinking about the care you need to take if you are going to seriously consider purchasing a foreclosed or bank-owned property. You'll need a local Realtor's expertise (call or email me), at least one good home inspector, and a termite inspector. Then, you want to add any repairs they recommend to your purchase price.
Look for foreclosed properties on the search page of my web site, and let me know if you have any questions about buying a distressed home.
Barbara Abe, Realtor
808-226-2537
barbara@barbarashawaii.com