Foreclosures. Sometimes this is a word that Buyer’s will run from, but other times our LUVA Realtors will get calls from House Hunters looking for a home that is a foreclosure for a variety of reasons, mostly having to do with the price – which will often be well below the market value. However, foreclosures do not come without complications and the process of buying a foreclosure property is certainly not for everyone. Kyra Bronson, a LUVA Realtor located in Kailua-Kona, has experience buying foreclosures. Additionally, she has represented multiple buyer clients in foreclosure purchases, and it is through her personal and professional experience that she has recognized the flurry of questions with foreclosure properties.
Earlier this year, Kyra created Big Island Foreclosures, a website that covers three Big Island Foreclosure Types: Judicial foreclosure auctions, Bank-owned real estate, and a County of Hawai’I tax sales. The website even has a Judicial Foreclosure calendar which includes upcoming open house and auction dates for Judicial Foreclosures.
One of the pages that we have found incredibly helpful is Kyra’s post on “What Will the Bank Bid?” Often, Realtors will attend auctions and try to analyze the bank’s reasoning for their bids. Kyra explains in the post that there is no consistent strategy for bank bidding and recommends that Buyer’s do their own research, figure out their top dollar, and “take 10% of that to the flagpole.”
We highly recommend checking out her website here if you are considering buying a Big Island Foreclosure property! If you’d like to contact Kyra, her contact information is below:
Kyra Bronson, RS-74959