Auction Recap - 77-181 La'aloa Ave

Auction recap 77-181 La'aloa Ave. Bank was the winning bid.

This was a tenant-occupied house in Kona.  Open houses were held.  

Click here for a copy of the Foreclosure Notice

Click here for a copy of the Fact Sheet 

The auction for 77-181 La'aloa Ave was held at 10 am on Aug. 24th.  There were 5 bidders in attendance, plus several people who were there to watch but not bid.  The amount owed according to the fact sheet was "$613,138.66 as of June 12,2020 with per diem interest continuing at 4.0000% per annum for each day."  I expected a max bank bid of around $650k.  Apparently so did everyone else because when the representative from the bank bid $699,900, the commissioner immediately said, "going once...".  None of the 5 bidders in attendance had brought enough to show 10% down that would beat the bank's price.  

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