Foreclosures: These are homes that are generally auctioned off at the courthouse steps. They are not listed here as they are not part of our MLS system. You can visit the courthouse weekly to see what properties are being auctioned off. There are also foreclosure notices in the legal section of the Garden Island Newspaper. Buyers typically don't have a due diligence contingency and there is usually no Sellers Disclosure Statement. Buyer's must have 10% of the total sales price in cash on the day of auction to be able to purchase.
Shortsales: These are homes that are in pre-foreclosure. These properties typically have sellers that are attempting to sell their homes for less than what is owed on the mortgage. These sales are subject to the lien holder(s) approval of the purchase price. They are time consuming but with patience a good deal can normally be achieved. To see current Kauai short sales, click here.
REO's: REO stands for Real Estate Owned properties and are those that have already gone through the foreclosure process on the courthouse steps, and have been purchased back by the bank that originally held the mortgage. The banks then puts the house back on the market for sale. These go quickly are are usually priced aggressively. To see current Kauai REO's, click here.