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+--- Thread: Sales up, pricing down (/showthread.php?tid=6095)
RE: Sales up, pricing down - dinulya - 03-09-2011
Just to let you know, guys, our short sale went through without any problems and MUCH faster than we anticipated. The closing is at the beginning of April. I will be back to the island in 4 weeks as a proud homeowner.
)))
RE: Sales up, pricing down - John S. Rabi - 03-09-2011
quote:Serious investors do they own diligence, use real estate professionals (escrow, attorney, inspector, etc.) to process the transaction and don't offer cash out of a bag on the spot.
Originally posted by Orchidlandguy
I had a guy try to buy from me just pulling up in my driveway. Offered me cash on the spot.
Aloha,
John S. Rabi, GM,PB,ABR,CRB,CM,FHS
888.819.9669
johnrabi@johnrabi.com
http://www.JohnRabi.com
Typically Tropical Properties
"The Next Level of Service!"
(This is what I think of the Kona Board of Realtors http://KonaBoardOfRealtors.info)
RE: Sales up, pricing down - Kapohocat - 03-09-2011
Unless it was Puna in the 70's and 80's and the cash in the bag smelled like weed!! [
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RE: Sales up, pricing down - Orchidlandguy - 03-10-2011
quote:
Originally posted by John S. Rabi
quote:Serious investors do they own diligence, use real estate professionals (escrow, attorney, inspector, etc.) to process the transaction and don't offer cash out of a bag on the spot.
Originally posted by Orchidlandguy
I had a guy try to buy from me just pulling up in my driveway. Offered me cash on the spot.
Aloha,
John S. Rabi
no bag. never said out of a bag.
The guy offered me cash. as with any cash buyer that usually means through escrow and all legal. you have heard of cash buyers right?
this guy pulled up in my drive and offered cash to buy my house. you made up the cash in a bag. I hope you should know that all real estate transactions have to legally go thorough title and escrow and can stil be cash sales. or maybe this is just another one of your "jokes"?
RE: Sales up, pricing down - kingkam - 03-11-2011
"what a positive guy you are. Sheesh"
RE: Sales up, pricing down - Kapohocat - 03-11-2011
quote:
Originally posted by Orchidlandguy I hope you should know that all real estate transactions have to legally go thorough title and escrow and can stil be cash sales. or maybe this is just another one of your "jokes"?
We did use an escrow company's attorney to write up the contract and hold money but we weren't required to. We also could have done the deed transfer ourselves if we felt comfortable with it. This did change on 7/1/2010.
A new Hawaii law (effective July 1, 2010) requires that any settlement/closing/escrow for any property in the State of Hawaii be handled by a licensed Hawaii escrow company.
Escrow company lobby? Previously if you and I wanted to we could do it ourselves, or even have our two attorneys work it out. The escrow lobby made it so now it requires one of the escrow companies to do it. (Nothing like job security!)
I am not going to argue the pluses of having them do it but it is again like the owner/builder versus general contractor. All these groups build in their own job security to protect us from ourselves? I like a choice.
RE: Sales up, pricing down - John S. Rabi - 03-11-2011
quote:Or an attorney. The reason behind this law was that the Bureau of Conveyances was receiving different versions of Quit Claim Deeds and Warranty Deeds that they couldn't record. There is a standard form of documents for recordation now. (Needless to say only the attorneys have it.) [
Originally posted by Kapohocat
A new Hawaii law (effective July 1, 2010) requires that any settlement/closing/escrow for any property in the State of Hawaii be handled by a licensed Hawaii escrow company.
][][]Aloha,
John S. Rabi, GM,PB,ABR,CRB,CM,FHS
888.819.9669
johnrabi@johnrabi.com
http://www.JohnRabi.com
Typically Tropical Properties
"The Next Level of Service!"
(This is what I think of the Kona Board of Realtors http://KonaBoardOfRealtors.info)
RE: Sales up, pricing down - Bullwinkle - 03-12-2011
The market a good one indeed - have been to both maui and molokai in the last several weeks kicking tires - cash buyers are in the drivers seat these days indeed
- just had a buddy sell her san diego place ... 3 offers in a week - she took the all cash 30 day escrow
Now to find her a place in Hawaii (other than mine - grin) .........
RE: Sales up, pricing down - DaVinci - 03-14-2011
quote:
Originally posted by Bob Orts
I think part of it is that many people have criteria’s based on mainland standards, not local Hawaii standards. If I was to look at my mainland needs and compare it to availability on the Big Island, I would be hard pressed to find suitable homes outside the west side resort communities. This was evident awhile back when Angela and others on Punaweb looked over a preliminary house plan and their first reaction was basically My God, who needs a house that large on Hawaii, let alone in the Puna area? Did I need a 100 square foot walk in closet? A 150 sq foot master bath isn’t common. 3,000+ sq feet of lanai? 80 sq feet pantry? .
You just described the house that I built. Which, of course, is the alternative to an inventory that is not meeting your needs. You know what you want... draw it up and start swinging a hammer.