Lot 1, Block 26, of the “Hawaiian Ocean View Ranchos, Increment I” - Foreclosure Notice

 From West Hawaii Today 06/04/2023:

Notice #: 0001417968-01
Foreclosures

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NOTICE OF FORECLOSURE SALE ACTION: HAWAIIAN RANCHOS ROAD MAINTENANCE CORPORATION VS. CHRISTINA WILLIAMS, ET AL.; Civil No. 3CCV-22-0000078(Foreclosure), Circuit Court of the Third Circuit (Hilo Division Two). PROPERTY DESCRIPTION: Lot 1, Block 26, of the “Hawaiian Ocean View Ranchos, Increment I”, as shown on File Plan Number 1125 filed in the Bureau of Conveyances of the State of Hawai’i, containing an area of 3.0008 acres, more or less. TMK 9-2-185-018. OPEN HOUSES: None, pursuant to Court Order. AUCTION DATE: WEDNESDAY, JULY 5, 2023 AT NOON, by the flagpole at Keahoulu Courthouse, 74-5451 Kamakaeha Avenue, Kailua-Kona, Hawaii 96740. TERMS OF SALE: No upset price. Property is sold in “AS IS” condition, without any representations or warranties whatsoever as to title or possession and by way of a quitclaim conveyance by public commissioner’s sale. Plaintiff and all parties are hereby authorized to purchase the mortgaged property at the foreclosure sale. The successful bidder at the sale shall make a down payment to the Commissioner in an amount not less than ten percent (10%) of the highest successful bid price. This payment shall be in cash, money order, by cashier’s check or by certified check, provided that Plaintiff may satisfy the down payment by way of offset up to the amount of its secured debt. Prior to bidding, any person not authorized to credit bid must show the Commissioner such person’s present ability to make the required down payment immediately upon the close of the bidding. At the Court’s discretion, the 10% down payment may be forfeit in whole or in part if the purchaser fails to pay the balance of the purchase price. Sale subject to court confirmation. All costs and expenses of the closing of the sale, including without limitation, the costs of conveyance, conveyance tax, escrow and recording fees, any proof of title or title insurance, as well as the cost of securing possession of the mortgage property, shall be the responsibility of and paid by the purchaser. Neither the availability of financing, title insurance, nor securing possession of the mortgaged property shall be a condition of closing. COMMISSIONER: For further information and fact sheet, please contact R. HERMANN HEIMGARTNER, ATTORNEY AT LAW LLLC, Commissioner; P.O. Box 1839, Kailua-Kona, HI 96745; Telephone 808-756-7022; email: Hermann@Kona.Attorney ALL INFORMATION IN THIS NOTICE SHOULD BE INDEPENDENTLY VERIFIED BY THE PURCHASER BEFORE BIDDING. (WHT1417968 6/4, 6/11, 6/18/23)

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Kyra Bronson R(B) 23930

LUVA Real Estate

What happens if you're the winning bidder - but can't come up with the money?

Today an auction was published for a unit I knew I had seen before: Elima Lani #1803.  I had always been told that if you bid on a unit and cannot complete the purchase, that your 10% bid would be returned, less the expenses for re-publishing the notices and holding the auction again.  However, I had never seen it happen.  

Apparently, after winning the bid and depositing his 10% with the commissioner, the bidder could not come up with the balance of the purchase price.  From the court minutes: 

Court: Orders the commissioner to re-auction as a NEW auction and to publish in a newspaper. Will GRANT plaintiffs motion and CANCEL the sale to the high bidder based on the representation that were unable to secure financing but will maintain possession of the 10% deposit until the costs to re-auction are sorted. 

Commissioner: Tenant moved out; inquires as to open houses and to rechecking out the property. 

Court: YES the commissioner shall treat this as a new auction and hold more open houses. 

Bidder: Pleads for the Court to release his deposit due to serious financial hardship; 

Court: The order states the deposit is to be held

I am interested to continue watching this one to see how much of his deposit the bidder is actually able to recover.  

Please remember: 

• Don't bid unless you have the full amount readily available to you. 
• Financing is very risky during a court foreclosure process.
• Just because this judge is willing to return some of this bidder's deposit, does not mean other judges would do the same under other circumstances.  Do not count on receiving any of your 10% deposit back if you cannot complete the purchase.  

Be sure to Subscribe to email alerts do you don't miss the updates as this case makes its way back through the new auction and the final accounting of bidder's deposit return is completed.  

Kyra Bronson R(B) 23930

LUVA Real Estate

68-3883 Lua Kula Street #1803, Waikoloa, HI 96738 - Foreclosure Notice

 From West Hawaii Today 5/31/23:

Notice #: 0001417825-01
Foreclosures

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NOTICE OF FORECLOSURE SALE Pursuant to the verbal orders of the court concerning Plaintiff’s Motion for (1) Cancellation of Sale; (2) for Forfeiture of Purchaser’s Deposit; and (3) for Court Instructions, filed on April 6, 2023, in U.S. Bank Nat. Assn., et al. v. Chinen, et al., Civil No. 15-1-395K, Third Circuit Court of the State of Hawaii, the Commissioner identified below has been directed to sell the following property at a public auction. DESCRIPTION: 68-3883 Lua Kula Street #1803, Waikoloa, HI 96738, TMK: 3-6-8-003-004-0083, a 2-bedroom, 2-bathroom Elima Lani condominium reportedly built in 1988 with 854 square feet of living area, and lanai. Fee simple. OPEN HOUSES: June 3, 2023 from 2:00 p.m. to 4:00 p.m., and June 10, 2023 from 10:00 a.m. to 12:00 p.m. PUBLIC AUCTION: July 7, 2023 at 12:00 Noon at the Keahoulu Courthouse, 74-5451 Kamakaeha Ave, Kailua Kona HI 96740, to the south of the “Ho’o Pohaku” sculpture in the shade near the northwest corner of the building. TERMS OF SALE: No upset price. Property will be sold in “as is” condition with no warranty of title or possession or any other warranties. No less than ten percent (10%) of the highest successful bid price must be deposited with the Commissioner at the close of the auction, and payment to be made in cash or cashier’s check. Potential bidders must be able to provide proof of their ability to comply with the 10% bid requirement or status as a party entitled to credit bid prior to participating in the public auction. The balance of the purchase price shall be paid to the Commissioner upon approval and confirmation of the sale by the Third Circuit Court of the State of Hawaii and tender of the document(s) transferring title. At the confirmation hearing, the Court may allow further bidding on the condition that the initial opening bid must be at least one hundred ten percent (110%) of the highest bid at the public auction. All costs and expenses of securing possession of the property and closing, including conveyance and recordation fees and conveyance taxes, shall be paid by the successful purchaser. The ten percent (10%) down payment may be forfeited in full or in part if the successful purchaser fails to pay the balance of the purchase price after court confirmation of the sale. Neither the availability of title insurance nor securing possession of the property shall be a condition of closing. Real estate brokerage commissions will not be paid from sales proceeds. The sale will not be final until approved by the court. For further information contact Daniel S. Peters, Esq., 74-540 Honokohau Street, Kailua-Kona, Hawaii 96740, (808) 331-1199, daniel@danielspeters.com, Commissioner. (WHT1417825 5/31, 6/7, 6/14/23)

See all open houses and auctions on the calendar.

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Kyra Bronson R(B) 23930

LUVA Real Estate