Hawaii Short Sales: A 36 Day Success Story

This post is a follow-up to a post I made a few weeks ago titled Short Sales in Hawaii Are Alive and Well.

Yes, it took a lot of work and a lot of telephone calls but the SELLERS NEEDED HELP and they turned to me to provide that service. The Sellers were a very nice, young, military couple that got caught up in purchasing a property during the height of the market and needing to sell because they were getting out of the military and moving back to the mainland. I DID NOT REPRESENT THEM ON THE PURCHASE OF THE HOUSE but was happy to assist them in their time of need.

Many Hawaii Military Members that purchased their homes in Hawaii during 2005 to 2006 now need to sell. Service member stationed at Schofield Barracks, Wheeler Army Airfield, Pearl Harbor, Hickam AFB, Marine Corps Base Kaneohe, Camp H.M. Smith or Tripler Army Medical Center and a few other bases used their VA Loan Eligibility to purchase a property during their tour of duty in Hawaii. They are in the same short sale situation as a Hawaii VA Short Sale which is just a little bit different.

Here are the FACTS about what transpired on this transaction:

• The Buyer submitted the offer to buy (Purchase Contract) on November 3, 2008.
• The Seller accepted and signed the offer to buy on November 4, 2008.
• THE LENDER ACCEPTED THE OFFER TO BUY AND APPROVED THE PURCHASE ON NOV 11, 2008. YES, THATS RIGHT, IT TOOK 7 DAYS FOR THEM TO APPROVE THE OFFER.
• The transaction recorded (closed) on December 10, 2008.

SO PLEASE TELL ME AGAIN HOW LONG HAWAII SHORT SALES TAKE? AND WHAT ARE THE REASONS AGAIN THAT BUYERS ARE NOT BEING SHOWN SHORT SALES?

The Sellers were delighted to be done with the property and move on with their lives.

Now, let me tell you what the buyer got.......

• A piece of Hawaii real estate in excellent condition.
• A smile from ear to ear. The buyer is ecstatic about the property.
• A purchase price for at least $13,000 less than fair market value. The last two sales were for 13k higher than what the buyer paid for my short sale listing and the other one was for 20k more than what the buyer paid for my short sale listing.
• This is a highly rentable property located near a major shopping center. An investors delight.

If you need assistance with a Hawaii Short Sale or VA Short Sale in Hawaii, contact me anytime. I would be happy to provide you with the information that you may need in order to become another success story.

www.relocate808.com

David J. Kucic, RA
CRS, GRI, ABR, e-PRO
First Sergeant, USA (Ret)
RE/MAX Honolulu
(808) 218-9338