The Halii Kai foreclosure you’ve been waiting for!
Since the developer at Halii Kai sold out of the smaller 2bed/2bath “Mahana” model in the Coconut Grove, there has been nothing at Halii Kai for sale listed below $400,000. That is going to change tomorrow, December 3rd, when I’m told a new REO (foreclosure) will be released at just under the $400,000 price point.
Oceanfront amenities at Halii Kai are what keep it the best-selling, and best-renting condo complex
The condo to be listed for sale is also the smaller 2-bedroom floor plan, but is on the golf course (no ocean view), and unlike most of this floor plan, comes with a garage rather than a carport. It is a HomePath property, meaning that it is Fannie Mae-owned. That means as a prospective buyer, you will have all the same “rules” as with any bank-owned property, and then some.
- All offers must be accompanied by proof of funds for an all-cash offer, or a pre-qualification letter from a bank if you would be financing.
- The sale will be “as is” although you can request an inspection period. You will pay for some of the closing costs that would ordinarily be the Seller’s.
- As a HomePath property, the first three days are reserved for offers from buyers who would be using it as their primary residence. Then it will be open to all others. The seller reserves the right to look at multiple offers, and may come back with a request for your “highest and best” offer.
- Ordinarily, HomePath properties are eligible for special financing, but this one will not be since Halii Kai is classified as a resort condo. That means if you plan to finance, you will need at least 30% down.
If this sounds like the opportunity you’ve been waiting for, contact me directly for more information, and to explain how we handle “unintentional dual agency” if more than one Hawaii Life client is interested in making an offer (I first learned the term, actually, in the bidding war over Halii Kai 16C in 2009!).
A hui hou,
Beth Thoma Robinson, R(B)