Hawaii Home Buyer or Seller? Short Sale or Not....Let's Talk!

Real Estate Agent with Liberty Homes RS-#62825

After working diligently with Hawaii Home Sellers, I KNOW what it is like to battle the banks for my sellers who are under water and getting them into contract to closing.   I also know what it’s like to battle for my Hawaii Home Buyers to get into a normal transaction; let alone a short sale transaction. Why?


Short Sales are no easy picnic for the home seller or home buyer. The process is lengthy and in many cases multiple offers are being submitted for homes, condos and townhouses because for 1) Inventory is LOW LOW LOW  2) They are not listed properly at market value.  In other words, just because it is a short sale doesn’t mean it should be listed way under market value!  Especially, a nice property that has had plenty of upgrades and move in condition! 

Even for a regular Home Sale 1) Inventory is LOW LOW LOW  and 2) The property will not appraise if it is not listed properly at current market value. OVERPRICING can be the death of a deal. It can cost the seller time, money and ….faith in the real estate agent who said it was worth more than what it is. 

A few tips for Hawaii Home Buyers looking for a Hawaii Home:

·         Make sure you have the time and patience to wait for a short sale to get approved by the bank. If you don’t then there is no sense wasting your, the agents, the seller and the bank’s time. The short sale MUST be approved by the lender and just that process could take anywhere from two to four months (or even longer) and then another two to three months for the transaction process once it is approved! DO YOU HAVE TIME CONSTRAINTS?

·         Before you have your Realtor® write up that contract make sure that they check current comps (preferably the last three months) and that the property is listed in a comfortable price range. If it’s too high it is not going to appraise and too low and the bank may not accept it anyway. If you are an unsure Home Seller, get an independent appraisal!! THE LENDER FOR THE OWNER ORDERS AN APPRAISAL, even if you have an all cash offer!

·         The Lender most likely will request that the property be sold "As Is" and because of the sellers hardship they most likely will not approve any repairs or credits for repairs. They may not even approve of paying for the association documents, pest inspections, surveys and so forth. You may have additional costs to deal with so be prepared. DO YOU HAVE ADDITIONAL FUNDS TO PAY FOR ITEMS REQUESTED BY YOUR LENDER?

·         Have a Professional home inspection even though the lender may not approve any repairs, remedies. It is in your best interests to KNOW what may need repairs and what you may need to fix. If there is structural, hazardous, electrical and plumbing issues that would take a considerable amount of money to remedy a home inspection will reveal all.  RESALES AND EVEN NEW HOMES MAY HAVE ISSUES.

·         Make sure there are no additional liens on the property!  Have the sellers paid all maintenance and association dues?  If not, guaranteed the Association and AOAO has filed a lien against the property after a few months of non payment. Does the seller have state/federal tax liens?  Guaranteed they will have to have an arrangement and cannot sell the property with outstanding taxes owed! MAKE SURE YOUR AGENT DID THE RESEARCH!

·         There may be more than one offer due to the lower list price of the property (and condition) so as always...put in your best offer. If you looking to just lowball an already lower priced home then your killer negotiations will most likely lose the home you really love.  ARE YOU TRYING TO BE A KILLER NEGOTIATOR IN A SELLER’S MARKET?

Make sure you have a knowledgeable Realtor® who can explain the Short Sale Process and all that is typically involved in this type of transaction. The items listed above are not in any way a complete and comprehensive explanation of the Short Sale property on the market.

Call me if you are thinking about listing your property for sale....

….or if you are searching to buy a Hawaii home.

….Short Sale or not…..Let’s Talk!!


Posted by



Celeste "Sally" Cheeseman  is a Realtor-Associate® and Certified Residential Specialist (CRS) with Century 21 Liberty Homes in Mililani, Hawaii. With a sharp understanding that a listening ear is the key to a client's needs  she serves the island of Oahu (Honolulu County) and all Hawaii Military Relocations, Hawaii Retirees, Hawaii Job Transfers and Hawaii Residents, Home Buyers and Sellers.


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Lou Ludwig
Ludwig & Associates - Boca Raton, FL
Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC


When buyer or selling a home, customers need to use the services of a real estate professional.

Good luck and success.

Lou Ludwig

May 15, 2013 09:31 AM #1
Celeste "SALLY" Cheeseman
Liberty Homes - Mililani, HI

Thanks Lou!  So often ...regardless of home sellers or buyers, they don't listen and want to act like they are the agent ....luckily, I have had the opportunity to serve many a home seller and home buyer who really take what I say to heart.  Some don't and they find out later that what I was saying all along was the truth of the matter :)


May 15, 2013 09:38 AM #2
Gary Woltal
Keller Williams Realty - Flower Mound, TX
Assoc. Broker Realtor SFR Dallas Ft. Worth

Excellent advice Sally, that short sales are not necessarily short in duration and that you have a seller's market there. Great Hawaii advice as always.

May 15, 2013 10:28 AM #3
Jane Peters
Home Jane Realty - Los Angeles, CA
Los Angeles real estate concierge services

This is excellent advice for buyers in this crazy sellers' market.  You have to have all your ducks in a row if you are going to succeed.

May 15, 2013 11:31 AM #4
Celeste "SALLY" Cheeseman
Liberty Homes - Mililani, HI

Thanks Gary and Jane. It is a very trying market. Need MORE listings!!!  More inventory will make for a healthier market...instead of this crazy stuff going on!


May 15, 2013 11:43 AM #5
William Johnson
Retired - La Jolla, CA
Retired Real Estate Professional

Woo Hoo, This is great and you did a great job covering this topic. Well done and Suggested!

May 15, 2013 02:12 PM #6
Gary L. Waters Broker Associate, Bucci Realty
Bucci Realty, Inc. - Melbourne, FL
Fifteen Years Experience in Brevard County

Well done, Sally. One of main jobs is to inform and educate...you do that very well!

May 16, 2013 01:15 AM #7
Elizabeth Weintraub Sacramento Realtor Top 1%
RE/MAX Gold - Sacramento, CA
Put 40 years of experience to work for you

Hi Sally: I like the way you talked about how the lender for the owner will order an appraisal even if the offer is cash. I was following you along, reading it, got to that part and thought, whoa why would they do that? Oh, yeah, short sale, hahahaha. I temporarily forgot a BPO because you're talking in language everybody can understand which is the secret of a really good agent!!

May 16, 2013 03:57 AM #8
Celeste "SALLY" Cheeseman
Liberty Homes - Mililani, HI

Thanks William!  Wow, time sure has passed and we've been BFF through all the markets. Here we are again...LOW INVENTORY and multiple offers on all!

May 16, 2013 06:17 AM #9
Wayne Johnson
Coldwell Banker D'Ann Harper REALTORS® - San Antonio, TX
San Antonio REALTOR, San Antonio Homes For Sale

Sally-You are so right on everyone being able to expect time and patience will be needed to get a short sale to the closing table.

May 17, 2013 01:44 PM #11
Sheila Morales
Kauai Property Shop - Kapaa, HI
Your Kauai Hawaii Agent

Aloha Sally - Kauai is seeing much the same thing with inventory of listings so very low and multiple offers on anything even remotely priced correctly.  Buyers are having a hard time catching up to the news that we are currently in a sellers market

May 18, 2013 03:18 PM #12
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