Auction Recap 75-6082 Alii Dr. #A102

 Auction Recap - 75-6082 Alii Dr. #A102 - Private bidder won

Click here for a copy of the Notice

Click here for a copy of the Fact Sheet 

The auction for 75-6082 Alii Dr. #A102 was held at noon on September 24th.  This was a vacant condo in an ocean front complex in Kona in decent condition.  Besides the bank representative and the commissioner, there were 6 registered sets of bidders and two groups of observers in attendance.  The amount owed according to the fact sheet was:  "As of September 30, 2020, there was due and owing .... TOTAL: $176.004.07[.]  The total sum, plus interest at $14,36 per day from/after September 30,2020 ..." 

I expected the bank to bid around $181k. 

The bank bid $181,332.53.  The first private bidder far outbid the bank, starting at $190,000.  Bidding then volleyed between bidders 2 and 3 until bidder 3 bid $205,000 and bidder 2 dropped out.  Bidders 1 and 3 then went back and forth a few more times until bidder 1 placed the final bid of $210,000.  The remaining registered bidders did not bid.

Condos in this complex have recently sold for $265k and up.    

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