68-3890 Lua Kula Street 1008, Waikoloa, Hawaii - Notice of Postponed Foreclosure Sale

 

From West Hawaii Today 5/29/22:

Notice #: 0001373565-01
Foreclosures

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NEW PUBLIC NOTICE OF POSTPONED FORECLOSURE SALE In accordance with HRS § 667-20.1, this is a new notice of a previously postponed public sale. By order of the Circuit Court of the Third Circuit in Civil No. 16-1-0041K, the below Commissioner has been appointed to sell the named property at public auction. PROPERTY DESCRIPTION: Located at 68-3890 Lua Kula Street 1008, Waikoloa, Hawaii. 2BD/2BA. 854 square feet. Built in 1988. TMK (3) 6-8-003-038 (CPR 0008). OPEN HOUSES: Open houses were held on March 31 and April 1, 2022. RESCHEDULED AUCTION: June 15, 2022 at 12:00 p.m. Auction will be held at the flagpoles at the Keahuolu Courthouse, 74-5451 Kamakaeha Avenue, Kailua-Kona, HI. TERMS: No upset price. Property is to be sold in its “as in” condition, without any representations or warranties whatsoever as to title or possession and by way of a quitclaim conveyance by public commissioner’s sale. The successful bidder at Sale shall make a down payment to Commissioner of no less than ten percent (10%) of the highest successful bid price. Payment 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 (“credit bid”). Prior to bidding, any person not previously authorized to credit bid must show the Commissioner such person’s present ability to make the required down payment immediately upon the close of bidding at Sale. At the Court’s discretion, the 10% down payment may be forfeited in whole or in part if the purchaser shall fail to pay the balance of the purchase price as required and set forth below. The Court may, for good cause, allow further bidding. In the event that such bidding is allowed, the first post auction bid must be at least one hundred five percent (105%) of the highest bid at Sale. The Court shall determine the amount of fees of the Commissioner. All costs and expenses of the closing of the sale, including without limitation, the costs of conveyance, including preparation of the conveyance document, conveyance tax, escrow and recording fees, any proof of title or title insurance, and notary fees, as well as the costs of securing possession of the property, shall be the responsibility of and paid by the purchaser. Neither the availability of title insurance nor securing possession of the property shall be a condition of closing. Sale subject to Court confirmation. DISCLOSURE: Content of this Notice has been obtained from sources believed by Commissioner to be reliable but may not necessarily be accurate or complete. It is the sole responsibility of all bidders to verify the information contained herein. COMMISSIONER: Jason R. Kwiat, Schlueter, Kwiat&Kennedy LLLP, Atrium Court, 75-167 Kalani Street, Suite 201, Hawaii 96740. Tel. No. (808) 987-7275, Email: jason@kona-lawyer.com (WHT1373565 5/29/22)

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15-1632 6th Avenue, Keaau, Hawaii 96749 - Foreclosure Notice

 

From Hawaii Tribune Herald 5/27/22:

Notice #: 0001371778-01
Foreclosures

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NOTICE OF FORECLOSURE SALE Pursuant to Findings of Fact, Conclusions of Law and Order Granting Plaintiff’s Motion for Default Judgment Against Defendants Troy Marshall Kindred and Tamara Kimberly Kindred and Summary Judgment and Decree of Foreclosure Against all Defendants on Complaint Filed March 31, 2021, filed on January 12, 2022 in Deutsche Bank National Trust Company, as Trustee for Ameriquest Mortgage Securities Inc. Asset Backed Pass Through Certificates, Series 2006 R2 vs. Troy Marshall Kindred, et al., Civ. No. 3CCV 21 000089, Circuit Court of the Third Circuit, State of Hawaii, the undersigned Commissioner will sell the following described property at public foreclosure sale on the date and at the time set forth below. PROPERTY DESCRIPTION: Real Property situate at Keaau, Puna, Island and County of Hawaii, State of Hawaii, being Lot 2223, area 1.000 acre, more or less, Block 7, as shown on Map 58, filed in the Office of the Assistant Registrar of the Land Court of the Sta te of Hawaii with Land Court Application No. 1053 (amended) of W. H. Shipman, Limited, and further identified as TMK:(3)1-5-051-060, address 15-1632 6th Avenue, Keaau, Hawaii 96749. The house is of double wall wood frame construction, with a corrugated iron roof, and contains three bedrooms and two bathrooms. The area under roof is 2,437square feet. The house was constructed in 1983. TERMS OF SALE: The property will be sold “as is” at public auction with no upset price. The successful bidder at the auction shall make a down payment to the Commissioner in an amount not less than ten percent of the successful bid price, such payment to be made at the close of the auction in cash, cashier’s check or certified check. Prior to bidding, interested parties must show the Commissioner their ability to make the required down payment, in such form as aforesaid, immediately upon close of the bidding. At the Court’s discretion, the ten percent down payment may be forfeited in full or in part if the successful bidder fails to timely close. The balance of the successful bid price shall be paid to the Commissioner upon approval and confirmation of the sale. All costs and expenses of closing shall be paid by purchaser, including, but not limited to 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. The inability of purchaser to secure title insurance or financing shall not be a condition of closing. SALE SHALL NOT BE FINAL UNTIL APPROVED AND CONFIRMED BY THE COURT. OPEN HOUSE: No Open House, by Order of the Court. SALE DATE: Tuesday, June 28, 2022, 12:00 noon, at the front entrance to the Hale Kaulike Courthouse Building, 777 Kilauea Avenue, Hilo, Hawaii. COMMISSIONER: Stephen J. Menezes, 441 Kipuni Street, Hilo, Hawaii 96720; Telephone (808)934-8916. (HTH1371778 5/27, 6/3, 6/10/22)

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The bank bid... and then bid again... and again!?

 I've only been going to foreclosure sales since 2013, and quite a bit has changed, but one thing you could always count on was that the bank would bid first, and just once.  

Well not anymore!  

Yesterday I attended the auction for Kona Coffee Villas unit #D136.  I was hesitant to even bother to go since I know the big investor buyers will show up at court confirmation instead, so anyone who wins at the auction will have to rebid to win again at court confirmation.  But I thought that might give me an edge at auction and who knows, maybe they'll put a stop to the easy reopening of bids at court confirmation in the meantime... a girl can dream. 

Anyway, I pulled out a small cashier's check and headed to the flagpole.  As suspected, there weren't many people there.  Just myself, two other investor bidders, and the bank representative.  The bank opened bidding at $162,xxx and one of the other investors bid.  The bank rep then bid $175k.  WHAT?!  I almost fell over.  The bank never bids again.  As bidding went back and forth the bank bid 3 more times and finally dropped out when the bidding got above $200k.  I've never seen anything like it and there is absolutely no explanation for it.  

Bidding ended at $304k, well above my max for the day.  It will probably go for higher at court confirmation though, when the other investor bidders show up.  

So...  there are no rules.  The bank may bid 5 times?  Bidding may get reopened at court confirmation?  Court confirmation could be 6 months after bidding!!  There is no way to anticipate what will happen, so just bring your cashier's check, be ready to tie your funds up for quite a while (and still not be the final winning bidder) and cross your fingers.  Foreclosures in Hawaii are certainly unique.