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1867 Kaioo Dr #109, Honolulu, HI 96815
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1867 Kaioo Dr #109, Honolulu, HI 96815
Auctioned: 2:35 PM Tuesday, July 19, 2011
1867 Kaioo Dr #109, Honolulu, HI 96815
325569 00-10-SE-/07-2011

1BR 1BA condo in Kaioo Terrace with 448+/- sf and kitchenette. Ground floor unit with access to community swimming pool and hot tub. Just off Ala Moana Boulevard, within walking distance to Ala Wai Boat Harbor and beaches. Built in 1970. HOA: Kaioo Terrace. HOA fees $495/M.
Property ID:325569

Auctioned: 2:35 PM Tuesday, July 19, 2011

REAL ESTATE AUCTION

Legal Description: County: HONOLULU, HI APN: 1-2-6-012-027-0009 Census Tract / Block: / Alternate APN: Township-Range-Sect: Subdivision: KAIOO TERRACE Legal Book/Page: Map Reference: 0342 / Legal Lot: 1 Tract #: Legal Block: School District: Market Area: METRO Municipality/Township: OAHU Neighbor Code: A59 FIRST: APARTMENT NO. 109 OF THE CONDOMINIUM PROJECT KNOWN AS "KAIOO TERRACE", AS ESTABLISHED BY DECLARATION OF HORIZONTAL PROPERTY REGIME RECORDED OCTOBER 3, 1978 AS LAND COURT DOCUMENT NO. 901026 OF OFFICIAL RECORD, AND AS SHOWN ON LAND COURT CONDOMINIUM MAP NO. 342 AND ANY AMENDMENTS THERETO. TOGETHER WITH THE FOLLOWING APPURTENANT EASEMENTS: THE NONEXCLUSIVE EASEMENTS FOR INGRESS AND EGRESS AND SUPPORT OF THE APARTMENT THROUGH THE COMMON AND LIMITED COMMON ELEMENTS OF THE PROJECT AND FOR REPAIR OF THE APARTMENT THROUGH ALL OTHER APARTMENTS THROUGH THE COMMON AND LIMITED COMMON ELEMENTS OF THE PROJECT. SECOND: AN UNDIVIDED 2.5% INTEREST AS TENANT IN COMMON WITH THE OTHER APARTMENT OWNERS IN AND TO THE COMMON AND LIMITED COMMON ELEMENTS OF THE PROJECT (EXCLUSIVE OF LAND) AS DESCRIBED IN SAID DECLARATION. THIRD: AN UNDIVIDED 2.5% LEASEHOLD INTEREST AS TENANT IN COMMON WITH ALL OTHERS ENTITLED THERETO IN AND TO THE LANDS DESCRIBED HEREIN. A LEASEHOLD ESTATE AS CREATED BY THAT CERTAIN CONDOMINIUM CONVEYANCE DOCUMENT DATED DECEMBER 13, 1978, EXECUTED BY HENRY CHUNG & COMPANY, A HAWAII LIMITED PARTNERSHIP, "FEE OWNER", AND KAIOO TERRACE VENTURE, A HAWAII LIMITED PARTNERSHIP, "GRANTOR", AS LESSOR/GRANTOR, AND RICHARD KIYOICHI AWAKUNI AND GAIL HISAE AWAKUNI, HUSBAND AND WIFE, AS TENANTS BY THE ENTIRETY, AS LESSEE/GRANTEE, FOR A TERM COMMENCING ON DATE HEREOF AND EXPIRING ON DECEMBER 31, 2033, RECORDED DECEMBER 29, 1978 AS LAND COURT DOCUMENT NO. 915903 OF OFFICIAL RECORDS. THE LESSEE'S INTEREST UNDER THE CONDOMINIUM CONVEYANCE DOCUMENT HAS BEEN ASSIGNED TO FEDERAL NATIONAL MORTGAGE ASSOCIATION, A CONGRESSIONALLY CHARTERED CORPORATION, AS TENANT IN SEVERALTY, BY MESNE ASSIGNMENTS RECORDED JULY 22, 2010 AS LAND COURT DOCUMENT NO. 3981915 OF OFFICIAL RECORDS. THE LAND UPON WHICH SAID CONDOMINIUM PROJECT IS SITUATE IS MORE PARTICULARLY DESCRIBED AS FOLLOWS: ALL OF THOSE CERTAIN PARCELS OF LAND SITUATE AT KALIA, WAIKIKI, DISTRICT OF HONOLULU, CITY AND COUNTY OF HONOLULU, STATE OF HAWAII, DESCRIBED AS FOLLOWS: LOTS 60, AREA 8,050.0 SQUARE FEET, MORE OR LESS, AND 61, AREA 11,834.0 SQUARE FEET, MORE OR LESS, AS SHOWN ON MAP 15, FILED WITH LAND COURT APPLICATION NO. 852 OF BISHOP TRUST COMPANY, LIMITED, TRUSTEE. TOGETHER WITH A RIGHT IN THE NATURE OF AN EASEMENT FOR A PERPETUAL RIGHT-OF- WAY FOR INGRESS AND EGRESS PURPOSES APPURTENANT TO SAID LOT 61, OVER, UPON, ACROSS AND ALONG EASEMENT 23 AS SHOWN ON MAP 52, OF SAID APPLICATION NO. 852. BEING ALL OF THE LAND DESCRIBED IN TRANSFER CERTIFICATE OF TITLE NO. 165,090 ISSUED TO HENRY CHUNG & COMPANY, A HAWAII LIMITED PARTNERSHIP. TMK(S): (1) 2-6-012-027-0009


Auctioned: 2:35 PM Tuesday, July 19, 2011


Disclosures: Deed Restriction Disclosure. Buyer understands property has a short term (3 month) deed restriction prohibiting the property from being sold/encumbered for more than 120% of total purchase price.



Re-Keying the Property. Buyer acknowledges that seller will re-key the exterior doors to the property prior to closing and funding at the buyer's expense to be paid at closing.



Title/Closing Costs. Regardless of local custom, the buyer understands and agrees that the seller will pay for the owner's title policy and that the buyer will pay all other closing/transfer costs including survey, escrow, all closing fees, and all realty transfer taxes.



Personal Property Not Included. Only title to the real estate is being conveyed. Personal property may be present, but is not included in the auction. Removal of personal property remaining on site at the time of closing is the responsibility of the Buyer.



Association Disclosure. Buyer acknowledges and understands that property is bound by the assessments and restrictions of Kaioo Terrace a condo owners association (Hawaiiana Management Company, LTD.808 593-9100) , and Buyer agrees to be bound by same. Buyer agrees to assume any special assessments/maintenance fees that may be due according to Hawaii Act 39. Dues are approximately $495 per month and are subject to change.



Financing Disclosure. Buyer acknowledges that property condition may adversely impact the availability of financing for said property. Buyer agrees to accept 'as is, where is' and is responsible for all costs and remediation's therein. Buyer agrees to accept with no contingencies. Buyer acknowledges that seller has no obligation or responsibility to reconnect utilities for the purpose of inspection or for any other reason. Buyer further acknowledges the seller, Williams & Williams, nor its agents make any assertions or guarantees as to the condition of said property or that utilities, plumbing, or fixtures therein will meet any financing guidelines. Buyer is encouraged to perform an independent inspection.



Leasehold Disclosure. Buyer(s) acknowledge(s) and understand(s) that the interest being sold in this Property is a leasehold estate. Buyer(s) will be responsible for negotiating any and all subsequent leases, including all costs and fees incurred to negotiate and finalize renewals of same under the lease. Buyer(s) agree to be bound by all terms and conditions of the current and subsequent lease(s), including, but not limited to, all use restrictions and all required payments. Lease expires 12/1/2033. Leasehold rent is approximately $547 per month.


Disclosures: Deed Restriction Disclosure. Buyer understands property has a short term (3 month) deed restriction prohibiting the property from being sold/encumbered for more than 120% of total purchase price.



Re-Keying the Property. Buyer acknowledges that seller will re-key the exterior doors to the property prior to closing and funding at the buyer's expense to be paid at closing.



Title/Closing Costs. Regardless of local custom, the buyer understands and agrees that the seller will pay for the owner's title policy and that the buyer will pay all other closing/transfer costs including survey, escrow, all closing fees, and all realty transfer taxes.



Personal Property Not Included. Only title to the real estate is being conveyed. Personal property may be present, but is not included in the auction. Removal of personal property remaining on site at the time of closing is the responsibility of the Buyer.



Association Disclosure. Buyer acknowledges and understands that property is bound by the assessments and restrictions of Kaioo Terrace a condo owners association (Hawaiiana Management Company, LTD.808 593-9100) , and Buyer agrees to be bound by same. Buyer agrees to assume any special assessments/maintenance fees that may be due according to Hawaii Act 39. Dues are approximately $495 per month and are subject to change.



Financing Disclosure. Buyer acknowledges that property condition may adversely impact the availability of financing for said property. Buyer agrees to accept 'as is, where is' and is responsible for all costs and remediation's therein. Buyer agrees to accept with no contingencies. Buyer acknowledges that seller has no obligation or responsibility to reconnect utilities for the purpose of inspection or for any other reason. Buyer further acknowledges the seller, Williams & Williams, nor its agents make any assertions or guarantees as to the condition of said property or that utilities, plumbing, or fixtures therein will meet any financing guidelines. Buyer is encouraged to perform an independent inspection.



Leasehold Disclosure. Buyer(s) acknowledge(s) and understand(s) that the interest being sold in this Property is a leasehold estate. Buyer(s) will be responsible for negotiating any and all subsequent leases, including all costs and fees incurred to negotiate and finalize renewals of same under the lease. Buyer(s) agree to be bound by all terms and conditions of the current and subsequent lease(s), including, but not limited to, all use restrictions and all required payments. Lease expires 12/1/2033. Leasehold rent is approximately $547 per month.
Terms of Sale:

Thank you for participating in Williams & Williams Online Auctions. It is important that you familiarize yourself with the terms and conditions as all sales are final and irrevocable. The terms of sale are non-negotiable. Good luck and good bidding!

Registration at the auction (online and/or in person) finalizes each bidder's agreement to the terms and conditions of sale as stated in the Contract and its Addenda which are incorporated by reference into your bidding. Do not bid until you have read the terms and conditions. In order to bid on the auction items, all Bidders must be signed up as Members of williamsauction.com and register to bid on the specific property in question. There is no fee to register although a valid credit card will be required to verify identity and funds. By bidding you are representing to Williams & Williams ("Broker" and/or "Auctioneer") and the seller that you have read and agree to be bound by the terms and conditions for this sale as stated herein. If you do not agree with any of the terms and conditions stated DO NOT BID or you will be bound by those terms and conditions. By bidding you agree to all disclosures.

THE SALE WILL BE CONTROLLED BY THE AUCTIONEER PROGRAM. Williams & Williams is not responsible for malfunctions or system errors which cause a bid or bidder to fail to be recognized or registered. If there is a dispute, the Auctioneer may re-open the bidding at the Auctioneer's sole discretion and shall serve as the sole arbiter as to who is or is not allowed to bid. The Auctioneer reserves the right to group, add to, delete, withdraw, consolidate or break down properties or quantities offered, to sell out of scheduled sequence, to reject any bid which is only a fraction advance over the preceding bid, to regulate bidding and to accept or reject any or all bids. Absentee bids may be accepted at the discretion of the Auctioneer. Any and all decisions of the Auctioneer regarding the order and conduct of the auction shall be final and absolute without liability to any party. Seller reserves the right to cancel or withdraw any property at any time.

All auctions are subject to court or seller approval. Most sales are approved within 14 days. Buyers are not allowed possession until filing of the deed, at which time the property should be re-keyed. "Showing" requests from Buyers after the auction may not be able to be accommodated.

Bidding starts at the nominal Opening Bid(s) indicated and is open to all who registered and are approved. The Auctioneer will call the sale and control any increments of bidding. The bidding will continue for a period of five (5) to seven (7) days for each property. The auction ends at a predetermined time with an Overtime Period if necessary, which is defined as follows: if a bid is placed within three (3) minutes of the close of bidding, then another three (3) minute period commences from the time of the last bid until no bids are placed within the next three (3) minutes. The last bid shall be made final.

An Auction Services Fee of $1,500 OR a Buyer's Premium (Buyer's Fee in WI) of 5% ($1,500 minimum) will be added to the high bid and included in the total purchase price. Please see the Sale Day Notes, The Contract for Sale, and/or the Auctioneer for specifics about the property you wish to bid on.

Each high bidder must make a 5% non-refundable deposit per property ($2,500 MINIMUM - whichever is greater) at the conclusion of the auction. Electronic wire funds, credit card, check by phone, and cashier's checks are the only forms of payment accepted. If you are a resident / citizen of a country outside of the US, certified funds (bank check, wire transfer, certified checks) are required for the down payment and closing. Once the Seller approves the Sale, the deposit will be credited to the Contract. The balance of the purchase price and all closing costs are due at closing. Closing costs generally total approximately $1,400 and include title exam, title policy, closing fee, filing costs and any other fees noted. Deposits will not be forwarded to any title company, or other party, for closing until WW's bank has received "cleared funds" for the deposit.

Within 24 hours immediately following the close of the auction, Auctioneer or Title Company shall contact Buyer by electronic mail, telephone or facsimile to provide documents for execution. All purchase documents will be provided to the Buyer and Buyer will be required to sign and return all purchase documents to Auctioneer via overnight delivery. Buyer shall have two (2) days following the auction to return all completed documents or shall be subject to paying a liquidated damages amount equal to the down payment. If you wish to have the purchase documents reviewed by an attorney, please contact Auctioneer PRIOR to the Auction and we will provide them to you for review so as to not delay the post auction process. You may also obtain a copy of our current contract on our website at www.williamsauction.com. The contract is not subject to negotiation.

If Buyer is a winning bidder and refuses or fails to complete the transaction for ANY reason (including, but not limited to, remitting the total purchase amount), Buyer shall relinquish ANY right to complete the transaction and shall have no rights or interest in the property, as well as forfeit all deposit monies as liquidated damages to Seller. PLEASE BE ADVISED: Various state statutes give Seller the right to pursue legal action against bidders who refuse to complete transactions. This may include (but is not limited to) suit to compel completion of the sale, and/or criminal charges of fraud or other intentional act.

All properties are sold "AS IS, WHERE IS" with no financing, inspection or other contingencies to sale. Williams & Williams represents the Sellers only and does not inspect properties on bidder's behalf. Buyers must conduct their own due diligence and investigation of each property and must also investigate the suitability of each parcel prior to making a bid and purchase at the auction. Buyers must rely solely upon their own investigation and not any information provided by the Seller or Auctioneer. Failure of a Buyer to be fully informed on the condition of a property will not constitute grounds for any claim adjustment or right to cancel sale.

Buyers receive a deed and Title Insurance Policy as provided by the Closer indicated in the Contract (any mobile/manufactured housing not legally affixed to the property shall only be conveyed by a Hold Harmless Agreement or Quit Claim Bill of Sale unless otherwise noted in the Disclosures). Current year's taxes are pro-rated through day of closing as is customary.

All the information contained on this property was obtained from official county maps or other sources deemed reliable, but is not guaranteed and may be in error. Seller DOES NOT WARRANT the accuracy thereof. Seller has made no independent investigation of any information provided, and assumes no responsibility for the providing of or absence of any information, whatsoever, or for the accuracy thereof.

NOTICE: Institutional and Fiduciary Sellers (courts, government agencies, banks and trustees) have not occupied the properties and have NO information to provide for disclosure. Properties are sold 'As Is - Where Is' and should be fully inspected prior to bidding on.

SELLER AND AUCTION COMPANY HAVE NO KNOWLEDGE OF THE SUBJECT PROPERTY OR ITS FIXTURES OR CONDITION AND ARE NOT RESPONSIBLE FOR SUCH.

YOU ARE ENTERING INTO A BINDING CONTRACT. THERE ARE NO REFUNDS OR BID CANCELLATIONS. THE REGISTERED BIDDER IS PERSONALLY RESPONSIBLE, LEGALLY AND FINANCIALLY FOR ALL AUCTION ITEMS BID UPON WHETHER REPRESENTING ONE'S SELF OR ACTING AS AN AGENT. AN ONLINE BID ACCEPTED AT PUBLIC AUCTION IS A LEGAL AND BINDING CONTRACT TO PURCHASE. ANY BIDDER WHO FAILS TO CONSUMATE A PURCHASE WILL BE BANNED FROM BIDDING AT ALL FUTURE SELLER AUCTION EVENTS AND MAY BE PURSUED FOR CIVIL AND/OR CRIMINAL VIOLATIONS.

 



Legal Description: County: HONOLULU, HI APN: 1-2-6-012-027-0009 Census Tract / Block: / Alternate APN: Township-Range-Sect: Subdivision: KAIOO TERRACE Legal Book/Page: Map Reference: 0342 / Legal Lot: 1 Tract #: Legal Block: School District: Market Area: METRO Municipality/Township: OAHU Neighbor Code: A59 FIRST: APARTMENT NO. 109 OF THE CONDOMINIUM PROJECT KNOWN AS "KAIOO TERRACE", AS ESTABLISHED BY DECLARATION OF HORIZONTAL PROPERTY REGIME RECORDED OCTOBER 3, 1978 AS LAND COURT DOCUMENT NO. 901026 OF OFFICIAL RECORD, AND AS SHOWN ON LAND COURT CONDOMINIUM MAP NO. 342 AND ANY AMENDMENTS THERETO. TOGETHER WITH THE FOLLOWING APPURTENANT EASEMENTS: THE NONEXCLUSIVE EASEMENTS FOR INGRESS AND EGRESS AND SUPPORT OF THE APARTMENT THROUGH THE COMMON AND LIMITED COMMON ELEMENTS OF THE PROJECT AND FOR REPAIR OF THE APARTMENT THROUGH ALL OTHER APARTMENTS THROUGH THE COMMON AND LIMITED COMMON ELEMENTS OF THE PROJECT. SECOND: AN UNDIVIDED 2.5% INTEREST AS TENANT IN COMMON WITH THE OTHER APARTMENT OWNERS IN AND TO THE COMMON AND LIMITED COMMON ELEMENTS OF THE PROJECT (EXCLUSIVE OF LAND) AS DESCRIBED IN SAID DECLARATION. THIRD: AN UNDIVIDED 2.5% LEASEHOLD INTEREST AS TENANT IN COMMON WITH ALL OTHERS ENTITLED THERETO IN AND TO THE LANDS DESCRIBED HEREIN. A LEASEHOLD ESTATE AS CREATED BY THAT CERTAIN CONDOMINIUM CONVEYANCE DOCUMENT DATED DECEMBER 13, 1978, EXECUTED BY HENRY CHUNG & COMPANY, A HAWAII LIMITED PARTNERSHIP, "FEE OWNER", AND KAIOO TERRACE VENTURE, A HAWAII LIMITED PARTNERSHIP, "GRANTOR", AS LESSOR/GRANTOR, AND RICHARD KIYOICHI AWAKUNI AND GAIL HISAE AWAKUNI, HUSBAND AND WIFE, AS TENANTS BY THE ENTIRETY, AS LESSEE/GRANTEE, FOR A TERM COMMENCING ON DATE HEREOF AND EXPIRING ON DECEMBER 31, 2033, RECORDED DECEMBER 29, 1978 AS LAND COURT DOCUMENT NO. 915903 OF OFFICIAL RECORDS. THE LESSEE'S INTEREST UNDER THE CONDOMINIUM CONVEYANCE DOCUMENT HAS BEEN ASSIGNED TO FEDERAL NATIONAL MORTGAGE ASSOCIATION, A CONGRESSIONALLY CHARTERED CORPORATION, AS TENANT IN SEVERALTY, BY MESNE ASSIGNMENTS RECORDED JULY 22, 2010 AS LAND COURT DOCUMENT NO. 3981915 OF OFFICIAL RECORDS. THE LAND UPON WHICH SAID CONDOMINIUM PROJECT IS SITUATE IS MORE PARTICULARLY DESCRIBED AS FOLLOWS: ALL OF THOSE CERTAIN PARCELS OF LAND SITUATE AT KALIA, WAIKIKI, DISTRICT OF HONOLULU, CITY AND COUNTY OF HONOLULU, STATE OF HAWAII, DESCRIBED AS FOLLOWS: LOTS 60, AREA 8,050.0 SQUARE FEET, MORE OR LESS, AND 61, AREA 11,834.0 SQUARE FEET, MORE OR LESS, AS SHOWN ON MAP 15, FILED WITH LAND COURT APPLICATION NO. 852 OF BISHOP TRUST COMPANY, LIMITED, TRUSTEE. TOGETHER WITH A RIGHT IN THE NATURE OF AN EASEMENT FOR A PERPETUAL RIGHT-OF- WAY FOR INGRESS AND EGRESS PURPOSES APPURTENANT TO SAID LOT 61, OVER, UPON, ACROSS AND ALONG EASEMENT 23 AS SHOWN ON MAP 52, OF SAID APPLICATION NO. 852. BEING ALL OF THE LAND DESCRIBED IN TRANSFER CERTIFICATE OF TITLE NO. 165,090 ISSUED TO HENRY CHUNG & COMPANY, A HAWAII LIMITED PARTNERSHIP. TMK(S): (1) 2-6-012-027-0009
Property
1867 Kaioo Dr #109,
Honolulu, HI 96815
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HI Broker:
HOWARD C. RICHMOND, Broker. Exit Realty Hawaiian Islands. PO Box 25511, Honolulu, HI 96825. (808) 450-3392. Lic.# RB-19627.