Honolulu Real Estate Views » Negotiating Contracts

Lessons From Negotiating

Keahi Pelayo — Fri, 30 Jul 2010 16:00:37 +0000

In today’s video blog, I talk about 3 really important lessons I have learned over my years of negotiating Honolulu real estate transactions.

Click here to view the embedded video.

If you would like to discuss your real estate needs, feel free to call me at 808-737-2093 or toll free at 877-737-2093. You can email me at keahi@lava.net.

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Email Negotiating Could Kill Your Sale

Keahi Pelayo — Thu, 29 Jul 2010 21:06:02 +0000

In today’s video blog, I compare negotiating by email versus a direct conversation with the interested parties. Each has its role and strength, but email negotiating can end up making the transaction way more complicated than it needs to be.

Click here to view the embedded video.

SEARCH FOR YOUR HONOLULU HOME

If you would like to discuss your real estate needs, feel free to call me at 808-737-2093 or toll free at 877-737-2093. You can email me at keahi@lava.net.

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Buying REO’s & Bank Addenda

Keahi Pelayo — Wed, 30 Jun 2010 16:00:00 +0000

After a buyer makes an initial written offer on an REO much of the negotiation process is handled via email or verbally. Once a price is agreed upon then the REO Company will issue their particular form of many-paged addendum. If at all possible, try to get it in advance because they can hold surprises. Today’s video blog discusses how to plan for this process.

Click here to view the embedded video.

SEARCH FOR YOUR HONOLULU HOME

If you would like to discuss your real estate needs, feel free to call me at 808-737-2093 or toll free at 877-737-2093. You can email me at keahi@lava.net.

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The Details Matter!

Keahi Pelayo — Mon, 28 Jun 2010 16:00:23 +0000

When negotiating your purchase contract for a Honolulu home or condo make sure that your contract includes all of the important details. Once the contract is agreed to, it is difficult to amend it and you may not be able to get the concession at a later date.

Click here to view the embedded video.

SEARCH FOR YOUR HONOLULU HOME

If you would like to discuss your real estate needs, feel free to call me at 808-737-2093 or toll free at 877-737-2093. You can email me at keahi@lava.net.

More Video Blogs

Keahi’s Resume

Honolulu Real Estate Is A Good Investment

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Supply Of Honolulu Homes

Honolulu Home Median Price of $1,000,000

Honolulu real estate makes a lot of sense over 10 years

How To Make Disclosures

Buying more might make your retirement better

Under New Rules-Lenders Even More Important

Sellers Beware Of Company Addenda

Sellers Get Your Surveys In Advance

Are Realtors Paid Too Much?

What’s Negotiable In The Purchase Contract?

Keahi Pelayo — Fri, 25 Jun 2010 18:44:22 +0000

Most buyers, sellers and professionals use the Hawaii Association of Realtors Purchase Contract (PC) as the document to negotiate Honolulu home and condo sales. Since it is a pre-printed form how much of it can be negotiated? Today’s video blog clarifies this pondering.

Click here to view the embedded video.

SEARCH FOR YOUR HONOLULU HOME

If you would like to discuss your real estate needs, feel free to call me at 808-737-2093 or toll free at 877-737-2093. You can email me at keahi@lava.net.

More Video Blogs

Keahi’s Resume

Honolulu Real Estate Is A Good Investment

Why A Buyer Shouldn’t Buy

Honolulu Home Median Price of $1,000,000

Honolulu real estate makes a lot of sense over 10 years

Buying more might make your retirement better

Sellers Beware Of Company Addenda

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When Does The Negotiation For The Price Of Your Home Begin?

Keahi Pelayo — Fri, 09 Apr 2010 19:24:36 +0000

In this video blog, I discuss when the negotiation for the price of your Honolulu home or condo really begins.

Click here to view the embedded video.

SEARCH FOR YOUR HONOLULU HOME

If you would like to discuss your real estate needs, feel free to call me at 808-737-2093 or toll free at 877-737-2093. You can email me at keahi@lava.net.

More Video Blogs

Keahi’s Resume

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Why A Buyer Shouldn’t Buy

Supply Of Honolulu Homes

Honolulu Home Median Price of $1,000,000

Honolulu real estate makes a lot of sense over 10 years

How To Make Disclosures

Buying more might make your retirement better

Under New Rules-Lenders Even More Important

Sellers Beware Of Company Addenda

Sellers Get Your Surveys In Advance

Are Realtors Paid Too Much?

Does AS IS Exempt A Seller From Disclosure?

Keahi Pelayo — Sun, 04 Apr 2010 16:00:24 +0000

In today’s video blog, I discuss whether or not selling a property “AS IS” will exempt seller having to tell a buyer about known issues or problems with a property. Here’s the bottom line, no matter strong or tough a contract is on being sold “AS IS”, the seller still has to tell a buyer what they know.

Click here to view the embedded video.

SEARCH FOR YOUR HONOLULU HOME

If you would like to discuss your real estate needs, feel free to call me at 808-737-2093 or toll free at 877-737-2093. You can email me at keahi@lava.net.

More Video Blogs

Keahi’s Resume

Honolulu Real Estate Is A Good Investment

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Supply Of Honolulu Homes

Honolulu Home Median Price of $1,000,000

Honolulu real estate makes a lot of sense over 10 years

How To Make Disclosures

Buying more might make your retirement better

Under New Rules-Lenders Even More Important

Sellers Beware Of Company Addenda

Sellers Get Your Surveys In Advance

Are Realtors Paid Too Much?

Avoid Problems By Getting Surveyed In Advance

Keahi Pelayo — Tue, 16 Mar 2010 22:29:53 +0000

In today’s video blog, I discuss getting your Honolulu home surveyed before you put your home on the market for sale. This may help you to avoid a large number of potential problems that could cost you money or lose you a sale.

Click here to view the embedded video.

SEARCH FOR YOUR HONOLULU HOME

If you would like to discuss your real estate needs, feel free to call me at 808-737-2093 or toll free at 877-737-2093. You can email me at keahi@lava.net.

More Video Blogs

Keahi’s Resume

Honolulu Real Estate Is A Good Investment

Why A Buyer Shouldn’t Buy

Supply Of Honolulu Homes

Honolulu Home Median Price of $1,000,000

Honolulu real estate makes a lot of sense over 10 years

How To Make Disclosures

Buying more might make your retirement better

Under New Rules-Lenders Even More Important

Sellers Beware Of Company Addenda

Honolulu Trump Tower-Maybe Not! Read The Contract!

Keahi Pelayo — Tue, 14 Jul 2009 19:01:48 +0000

A few years ago when the Trump Tower in Waikiki was being pre-sold, a client called me with an interest buying a unit. I told him I would read the forty-two-page contract and let him know what I thought about the purchase. Here is what I told him.

1. There is no guarantee that the project would be named a “Trump Tower”.
2. The size of the units could vary buy as much as ten percent. Given this clause, I felt he should expect the unit to be 10% smaller than advertised.
3. Due to number 1 and number 2 above and the outrageous per square foot cost of the project, I recommended against buying. Thankfully, he took my advice.

Flash forward to this morning! The Honolulu Star Bulletin has a headline that reads “Trump Tower Might Not Really Be A Trump” and the Honolulu Advertiser has a headline trumpeting “Buyers Sue Trump Waikiki”. In the Star Bulletin, attorney Warren Price is quoted as follows.

“Price says Irongate concealed the terms and conditions of the Trump license agreement, including whether it could be assigned to the buyers. These material facts should have been provided before buyers signed their sales contracts.”
READ THE HONOLULU STAR BULLETIN ARTICLE

The developer of the project is quoted through the Honolulu Advertiser as follows.

“”Furthermore, we intend to pursue all of our own claims against these individuals. The vast majority of buyers are moving towards closing and are looking forward to their first visit to Trump Tower Waikiki Beach Walk later this year.”
READ THE HONOLULU ADVERTISER ARTICLE

Here are the lessons.

1. Read the contract. It will tell you what rights the buyer and the seller have. In the case of Trump Waikiki, the buyer did not have many rights.
2. Words mean things. If the contract says they can change the name, then they can change the name.
3. Clauses are put in a contract for a reason. When I read the Trump contract, I did not think that the naming and square footage issues we inserted by accident. Who ever wrote the contract knew that they had to be in the document to protect their client.

SEARCH FOR YOUR HONOLULU HOME

If you would like to discuss your real estate needs, feel free to call me at 808-737-2093 or toll free at 877-737-2093. You can email me at keahi@lava.net.

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Honolulu Condos With 70% Or More Owner Occupancy

Keahi Pelayo — Tue, 13 Jan 2009 20:25:25 +0000

Here is a BIG thank you to Tim O’Leary, of Bank of Hawaii, for directing me to Hicondos.com. In yesterday’s blog post, I informed you that lenders are now requiring a owner occupancy of 70% or more, if a buyer is using a down payment in a purchase of less that 20% of the price. As I feared, there are not many Honolulu condos that can meet this level of occupancy. Below are 10 that do meet the guideline.
1001 Wilder-87%
1010 Wilder-95%
1015 Wilder-83%
1133 Waimanu-75%
1350 Ala Moana-89%
Cantebury Place-80%
Courtyards at Punahou-94%
Hawaiki Tower-90%
Oceanside Manor-78%
Queen Victoria Residences-80%
Note that this is not a complete list, but I will post more as I find them. It is interesting that most of these condominiums are in the upper range of value for Honolulu. Call me at 808-737-2093 or toll free at 877-737-2093 to discuss your real estate plan.