Posts: 507
Threads: 64
Joined: May 2008
DO YOU ALLOW INVESTORS TO INVEST AT THE SALE WITHOUT ATTENDING THE SALE (I.E. ABSENTEE BIDDING)?
No. Persons bidding at the auction as representatives or agents of others will be required to present notarized documents showing such authorization to bid on behalf of those parties they represent.
-
That's from the FAQ about the tax sales:
http://www.hawaiipropertytax.com/template.asp?page=tax_sales_faq.htm&mnu=Home&submnu=TaxSalesFAQ
Posts: 2,314
Threads: 59
Joined: Jun 2003
That's correct. I know some real estate agents who do it for $500, but I think they are asking for trouble, unless they get a Hold Harmless Agreement signed in addition to the Power of Attorney from the investor.
Aloha,
John S. Rabi, GM,ARB,BFT,CM,CBR,FHS,PB,RB
808.989.1314
http://www.JohnRabi.com
Typically Tropical Properties
"The Next Level of Service!"
Posts: 2,314
Threads: 59
Joined: Jun 2003
You get clear title, they pay off all the liens. The asking price of the properties is higher than the outstanding liens. If there is no bid the COH will put the property up on the next tax sale. There is only one house and one condo on the list, all the others are vacant land.
Aloha,
John S. Rabi, GM,ARB,BFT,CM,CBR,FHS,PB,RB
808.989.1314
http://www.JohnRabi.com
Typically Tropical Properties
"The Next Level of Service!"
Posts: 1,351
Threads: 80
Joined: Jul 2008
Where can I go to see where these properties are actually located? I've forgotten - I think I used to know.
Carrie Rojo
"The sun and moon collide. Isn't gravity a funny thing? The universe explodes apart. All the children sing..." Todd Rundgren
Carrie Rojo
"Even the smallest person can change the course of the future..." Galadriel LOTR
Posts: 507
Threads: 64
Joined: May 2008
Once you have the list, you can look them up by going to
http://www.hawaiipropertytax.com/AccountSearch.asp?mnu=PSearch&submnu=Account
and filling in the parcel number. If it finds one you click on the parcel number and then click on Map.
But, the maps aren't very good. If anybody know a better way...
Drove by one of the properties yesterday, there was already someone looking at it.
Posts: 507
Threads: 64
Joined: May 2008
The list was in the paper again today over 200 of them of which more than 40 in HPP. Looking at it again I see that some of the people haven't paid tax for the last 15 years.
I know nothing about these sales or real estate in general. If 3K is owing on a property and someone puts in a winning bid of 10K who gets the extra 7K - the owner or the county? I ask because I assume it's the owner and the county just wants their taxes.
There could be some huge bargains there if anyone has any money left. 3 acre lots in Puna possibly going for 3K if the bids don't go above the tax owed. This surely has to have a very negative effect on land prices for a while to come.
Any thoughts?
Posts: 1,727
Threads: 29
Joined: Feb 2006
The last auction I went to, none of the lots went for the opening bid price and they were all bid up to at least 80% of the price you'd pay to buy a comparable lot from a Realtor. HOWEVER, the auction I went to wasn't the last one, but the auction before that. Anyone keep track of the numbers from the last auction? How close was the final big to comparable "for sale" prices?
"I like yard sales," he said. "All true survivalists like yard sales."
Kurt Wilson
Posts: 507
Threads: 64
Joined: May 2008
"The last auction I went to, none of the lots went for the opening bid price "
What was the opening bid price, the tax owed? About how many properties were on the list then, do you remember?
Posts: 1,839
Threads: 48
Joined: May 2007
And what if the highest bid is less than the taxes owed?
Posts: 645
Threads: 19
Joined: Jul 2003
if they don't get the upset price they won't sell it, i've only seen a lot sell for the upset price once about 7 or 8 years ago, and it was because of a bad legal description, last auction to give an example hpp lots were around $25k
