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.