82-1025 KINUE ROAD, CAPTAIN COOK, HI 96704 - Foreclosure Notice

 From West Hawaii Today 2/16/2024:

Notice #: 0001444669-01
Foreclosures

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NOTICE OF FORECLOSURE SALE FEE SIMPLE HOUSE & LOT 82-1025 KINUE ROAD, CAPTAIN COOK, HI 96704 By order of the Third Circuit Court in Civ. No. 3CCV-22-0000104 the undersigned Commissioner has been appointed to sell the named property at public auction or private sale. PROPERTY DESCRIPTION: Three-bedroom, 1-bath, unfurnished house and garage on 7,553 sq ft lot (0.1734 acre) with 912 sq ft living area. TMK 3-8-2-013-027-0000. 2023 Market and County-assessed values: Land: $128,100; Building: $156,800; Total taxable value: $284,900. For full legal description see Mortgage recorded in the Bureau of Conveyances on 12/2/2005 as Doc. No. 2005-246225. The mortgage was assigned to OneWest Bank FSB on 11/30/2009 as document 2009-181863. Through various name changes and further assignments, the loan documents were acquired by plaintiff, US Bank Trust, N.A., etc., by assignment recorded in the Bureau on 3/23/2020 as Document Number A73870651. This is an action to foreclose the assigned mortgage, the amount due of which, including accumulating interest and late charges, is $752,184.10 as of 10/28/2022. OPEN HOUSES: Saturday, Feb. 24, 2023, 12 noon to p.m., and Saturday, Mar. 2, 2024, 12 noon to 2 p.m. AUCTION DATE: Friday, March 15, 2024, at 12 o’clock Noon. AUCTION LOCATION: Flag-pole at the Keahuolu Courthouse, 74-5451 Kamakaeha Ave, Kailua-Kona. TERMS OF SALE: NO UPSET PRICE. Property to be sold “as is” at public auction or private sale without any representations or warranties as to title or possession. At least ten percent (10%) of the bid price in cash or certified check shall be paid at the close of auction, balance payable upon delivery of title after approval and confirmation by the Third Circuit Court, and is subject to forfeiture in whole or in part for failure to close. Inability of purchaser to secure title insurance or financing shall not be a condition of closing. Bidders must show commissioner their ability to make the required down payment prior to bidding, except mortgage holder may credit bid. Buyer(s) responsible for all costs of closing including costs of escrow fees, title insurance premiums, conveyance document preparation fees, prorated real property and conveyance tax, recordation and costs of securing possession after closing, and fees and costs approved by the Court. Sale subject to Court Confirmation. FOR FURTHER INFORMATION: Contact FRANK L. MILLER, Commissioner: 808-323-2252; P.O. Box 415, Kealakekua, HI 96750; or franklewismillerlaw@gmail.com (WHT1444669 2/16, 2/23, 3/01/24)

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Kyra Bronson R(B) 23930

LUVA Real Estate

89-709 Lani Kona Rd, Captain Cook, Hawaii 96704 - Foreclosure Notice

 From West Hawaii Today 1-18-24:

Notice #: 967920997
Foreclosures

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NOTICE OF FORECLOSURE SALE

NOTICE IS HEREBY GIVEN that by Order of the
Circuit Court of the Third Circuit in Civil No. BCCV-
22-0000032 (Dkt. 71, ?led Sep. 21, 2023), the
below Commissioner has been appointed to sell
the following real property at public auction.

PROPERTY DESCRIPTION: Located at 89—709 Lani
Kona Rd, Captain Cook, Hawaii 96704. 2BR/ 13A,
approximately 800 sq. ft. dwelling, approximately
1 acre parcel,TMK (3) 8—9—009-002.

OPEN HOUSES: None.

AUCTION: Thursday, March 7, 2024, 12 pm, at
the flagpoles in front of the Keahuolu Courthouse,
74-5451 Kamakaeha Ave., Kailua-Kona, Hawaii,
96740.

TERMS OF SALE: No upset price. Sold in “as is”
condition to the highest bidder at public auction
with no representations or warranties as to title or
possession, and with a quitclaim conveyance.The
successful bidder shall make a down payment to
the Commissioner in an amount not less than ten
percent (10%) of the highest successful bid price.
Prior to participation in the auction, participants
must prove their ability to comply with the 10%
requirement, which must be paid by certified or
cashier’s check, money order, or cash. The 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.The balance of the purchase price shall
be paid upon approval and confirmation of the
foreclosure sale by the Court and the tender of
the document transferring title to the mortgaged
property. The Commissioner will close the sale
through a Hawaii licensed escrow company if so
requested by the purchaser or if so ordered by the
Court. The purchaser shall pay for all costs and
expenses of closing, including but not limited to
conveyance costs and taxes, escrow and closing
costs, title insurance, notary fees, and eviction
costs. Neither the availability of title insurance
nor securing possession of the property shall be
a condition of closing.The sale is subject to Court
confirmation.

DISCLOSURE: The information in this Notice
has been obtained from sources believed by
the Commissioner to be reliable but may not be
complete or accurate. It is the sole responsibility
of the bidder to verify the information in this
Notice.

COMMISSIONER: Emil A. Macasinag, Kuakini
ower, 755722 Kuakini Hwy., Ste. 100, Kailua-
Kona, HI 96740, (808) 326-4852.

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Kyra Bronson R(B) 23930

LUVA Real Estate

73-4920 Manu Mele Street - Auction Recap

The Manu Mele St. foreclosure was held today, 1-10-24.  This was the property that had only the shell of a house and a private lender.  

There appeared to be many folks in attendance for the auction, but only one party was bidding against the private lender.  

Although in most cases, the banks typically only send a representative with one bid, this private bidder started the bid at $780k and ran the 3rd party bidder up to $879k.  I found this interesting for two reasons: 

1.  It was risky!  I don't believe the private lender wanted the hassle of dealing with this property, and with every bid above what he was owed, he could have pushed the 3rd party bidder out. 

2.  Only $850k total was owed on the property.  There was no reason for the private lender to bid above this amount and yet he did, three times!  Every increment above $850k was a risk that the other bidder might drop out and also, every cent above the total owed goes to the borrower in the default!  The private lender just earned $29k for the borrower by running the bid up.  Very interesting.