92-9258 Reef Parkway, Ocean View, Hawaii, 96737 - Postponed Foreclosure Notice

 From West Hawaii Today 06/06/2023:

Notice #: 0001418386-01
Foreclosures

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NOTICE OF POSTPONED FORECLOSURE SALE LOCATION: 92-9258 Reef Parkway, Ocean View, Hawaii, 96737 Tax Map Key: (3)9-2-181-012 DESCRIPTION: 2-bedroom, 2-bathroom single family home consisting of approximately 1,296 square feet interior built in 1985 on approximately 43,604 square foot lot. LEASEHOLD/FEE: Fee OPEN HOUSES: None POSTPONED AUCTION DATE: June 29, 2023 at Noon in front of the flagpole at the Keahuolu Courthouse, 74-5451 Kamaka’eha Avenue in Kailua-Kona, Hawai’i. TERMS OF SALE: Pursuant to the Findings of Fact, Conclusions of Law, and Order Granting Plaintiff’s Motion for Summary Judgment and for Interlocutory Decree of Foreclosure filed July 15, 2022 in Civil No. 3CCV-19-0000009 in the Circuit Court of the Third Circuit, State of Hawaii, the undersigned Commissioner will offer for sale to the highest bidder at a public auction the property described above. This is a postponement of the foreclosure sale scheduled on May 25, 2023 and, pursuant to HRS Sec. 667-20.1, will be conducted under the following terms and conditions. Property to be sold “AS IS” at public auction, without any representations or warranties whatsoever as to title or possession, to the highest bidder with no upset price. Potential bidders must provide proof of ability to pay 10% prior to participation in bidding at auction. A non-refundable deposit of not less than Ten Percent (10%) of the highest successful bid price shall be deposited with the Commissioner at the close of auction, such payment to be made in cash or by certified or cashier’s check. The down payment may be subject to forfeiture if the high bidder fails to pay the remaining balance of the bid, for failure to complete the transaction in a timely manner, or as otherwise ordered by the Court. The balance of said purchase price shall be paid to the Commissioner upon approval and confirmation of the sale by the Third Circuit Court and tender of the document(s) transferring title, such payment to be in cash or by certified or cashier’s check. All costs and expenses of conveyance, including escrow and recording fees, conveyance tax, securing possession of the subject property, any proof of title or title insurance and notary fees shall be at the expense of the successful purchaser. Real estate brokerage commission will not be paid from sales proceeds. Neither the availability of title insurance nor securing possession of the property shall be a condition of closing. The subject property will be conveyed by Commissioner’s (Quitclaim) Deed pursuant to order of the Third Circuit Court. THE SALE IS SUBJECT TO AND SHALL NOT BE FINAL UNTIL CONFIRMED BY THE THIRD CIRCUIT COURT, STATE OF HAWAII. No representation is made as to the accuracy of figures provided by others. All amounts are approximate and subject to order of the Court. For further information contact: Alan H. Tuhy, Esq., Commissioner, 78-7100 Kamehameha III Rd., Ste. 405, Kailua-Kona, HI. 96740 PH: (808) 329-5678; Fax: (808) 329-5788 or alan@tuhylaw.com (WHT1418386 6/06/23)

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Kyra Bronson R(B) 23930

LUVA Real Estate

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