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March 2014

Seller’s Disclosure Statement

Video Transcription Aloha. George Krischke here with Honolulu HI 5. Today, we’re going to talk about the seller’s disclosure statement. In Hawaii, sellers are obligated to complete the seller’s real property disclosure statement. It is a questionnaire that is pre-printed, and the seller has to complete it and answer all the questions on there. And the seller has to complete it to the best of his knowledge and must fully …Read More

Termite Inspection

Video Transcription Aloha, this George Krischke with Honolulu HI 5. Another very common and important contingency in Hawaii’s realty purchase contracts is the termite inspection contingency. It gives the buyer the right to select a professional termite inspector to do a termite inspection and review the report within a certain time period. Often, the seller will actually pay for that termite inspection, at least up to a certain amount per …Read More

Contract Contingencies

Video Transcription Aloha! This is George Krischke with Honolulu Hi-5. Today, we’re going to discuss “contract contingencies.” A contingency is a condition that must be satisfied, or an event that must take place before a party is obligated to proceed with the contract. Often a contingency will be deemed waved if a party fails to act in a timely manner. There are about a dozen contingencies in Hawaii’s real estate …Read More

Home Inspection During Escrow

Video Transcription Aloha. George Krischke here with Honolulu HI 5. One of the most important contingencies in Hawaii’s purchase contract is the home inspection contingency. It gives the buyer the right to inspect the property in detail and we strongly recommend the buyer should use a qualified professional home inspector or any additional specialized qualified professional to inspect any and all aspects of the property. That includes the electrical systems, …Read More

Closing of Escrow & Getting the Keys

Video Transcription Aloha, George Krischke with Honolulu HI 5. Today we’re going to talk about closing of escrow. In a different segment we talked about contingencies in a contract. Those are conditions that need to be satisfied or events that need to take place before a party is obligated to move forward with the contract. Now once all contingencies are satisfied, or removed, means buyer, and seller have fulfilled all …Read More

Vacation Renting Property in Hawaii

Video Transcription Aloha, this is George Krischke with Honolulu HI 5. Today, we’re going to talk about vacation renting property. That’s a very controversial subject, here in Hawaii. Now, you know one of the great benefits of homeownership is you may be able to rent out your property, either the whole property or just a portion of it or just one room. Whatever you like. However, you need to be …Read More

Lead Paint Addendum

Video Transcription Aloha. This is George Krischke with Honolulu HI 5. It is another fine day in paradise and we are talking about the lead paint addendum. Prior to 1978, it was very common in the building industry to use lead-based paint in residential construction. Since then, it is outlawed. And buildings that were built prior to 1978 probably have been painted over several times, inside and out. But, the …Read More

Cash vs Financed Offer

Video Transcription Aloha. This is George Krischke, with Honolulu Hi 5. Today, we’re going to talk about cash offers. Cash offer means there’s no financing involved, and that’s great news for the most part. That eliminates the lengthy loan approval process and greatly increases certainty of closing. Sellers love cash offers. While most financed transactions may take at least 30 days at a minimum, often 45, and sometimes even 60 …Read More

Additional Inspections

Video Transcription Aloha. This is George Krischke with Honolulu Hi 5. Today, we’re going to talk about additional inspections. In a separate segment we talked about the professional home inspection, and we talked about a termite inspection. But, depending on the nature of the property, additional inspections might be prudent. Sometimes it’s good to get a second opinion from a qualified, specialized professional. That could be an electrician, a plumber, …Read More

Asking for Repairs After Home Inspection

Video Transcription Aloha. George Krischke with Honolulu Hi 5. Today, we’ll discuss asking for repairs. In a different segment we already discussed that in Hawaii sellers are not obligated to do repairs. There’s no law that requires sellers to do so. So, that may be different in your state, but in Hawaii there’s no law that requires sellers to do any repairs to the properties for sale. Now, unless it …Read More