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Fee simple, short sale and monthly fee?
09-19-2012, 01:15 PM
Post: #1
Fee simple, short sale and monthly fee?
These are terms not seen on ads for property for sale on the mainland so I am curious as to what they mean where the islands are concerned.
It seems the monthly fee is common for the apt and condo buildings so I can tell that is to cover utilities and groundwork but the other ones I haven't figured out.
Anyone want to assist?
Mahalo!!

And then this:
http://homes.hawaiiislandhomes.com/reale...e-hi-96792

A parking stall that is for 1000?????
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09-19-2012, 08:43 PM
Post: #2
RE: Fee simple, short sale and monthly fee?
Hi, I had wondered about the same when I started looking at places on Oahu. I started googling terms that I didnt understand.
Fee Simple:n. absolute title to land, free of any other claims against the title, which one can sell or pass to another by will or inheritance. This is a redundant form of "fee," but is used to show the fee (absolute title) is not a "conditional fee," or "determinable fee," or "fee tail." Like "fee" it is often used in deeds transferring title as in "Harry Hadit grants to Robert Gotit title in fee simple..." or similar words.
(found via: http://legal-dictionary.thefreedictionar...ee+simple)

Short Sale is often used as an alternative to foreclosure
( I dont like to use Wikipedia often but they do tend to have decent definitions:http://en.wikipedia.org/wiki/Short_sale_%28real_estate%29)

I hope that helped! Shy
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09-20-2012, 09:22 AM
Post: #3
RE: Fee simple, short sale and monthly fee?
Ah,let's see,Leasehold or Fee Simple? Maybe now you've figured out what Fee Simple is,you also hold the deed for the land your house or condo sits on collectively,that is.
Leasehold is when,of course,the lease ends. So,you buy a $450,000 leasehold condo in Waikiki and the lease expires in 2032. That means that when 2032 comes around, they can either renew a new lease,for new terms at a much higher rate,of course or not renew it for you at all. They can simply say,"this is no longer your home and get out!". Yes, it sounds rude and mean but is totally legal here. Many condos in Kahala are dirt cheap when you look at the price but you need to look at the monthly maintenance fees and taxes and when these leases end.
Whether it is Fee Simple or Leasehold properties, you will always need to look at the monthly maintenance fees and taxes. Some buildings are only $200-$300 a month and some are $1000-$2000 a month. You just need to shop carefully,buyer beware.
These fees usually cover the maintenance,phone(local calls only),cable, water,sewer and all of your electricity needs. Basically,one check covers it all each month and is a nice comfortable way to figure out your bills and not have to open new accounts with all the different utility companies and write checks each month separately.
As far as your ad for a parking space for a $1000 dollars,that's actually a good deal unless it was formerly a handicap parking space. Many of the parking stall ads here in Waikiki are for formally handicap parking spaces because many of these private buildings and hotels have found a way around the current ADA Act laws by saying they now provide Valet parking. I believe this is wrong and should be reversed. It's not just the hotels and building owners doing this but even the city and counties here in Hawaii also. Here a good question: If you have a modified vehicle for a person with no legs(all hand controls) and the valet person can't drive your vehicle,you think they still have a right to charge you $20 a day for parking and in a stall that doesn't allow for wheelchair ramps from your vehicle?
Next time you come to Hawaii,try to find dedicated handicap parking stalls on the streets here and you will discovered that they've all been either sold off or removed. You can find more handicap parking at Home Depot than that owned by the city and county of Honolulu.
Now,you might think,they have metered parking(if you are lucky enough to find a metered parking stall) and park there with your placard on display and two years ago(Under Mayor Mufi) started ticketing the handicap for parking at a metered parking stall for more than two hours now. Everywhere else,you can park without time limits.
One of the first things you'll notice is the amount of handicap persons driving around and around all the different hotels looking for any metered parking stalls. Even at Tripler Army Medical Center,you'll see the handicap competing for parking stalls because the current ADA Act was enacted before the last four wars during the last 10 years.
Back to the topic here though,why is a $1000 bucks a good deal for a deeded parking stall? Because most places here are charging $100 or more a month for a extra parking stall. The Waikiki Grand Hotel was selling deeded parking stalls for $10,000.00 and now there is no longer any handicap parking stalls,you do the math. By the way,the signs pointing out to you where the handicap parking is at the Waikiki Grand Hotel are still up because they are located on city property and can't be removed by the hotel even though they've sold all of their handicap stalls. There just seems to be a very negative attitude towards the disabled because they associated the disabled with the homeless population here it seems. Wrap a bandage around any limb on your body and everyone here will start treating you with the ill will they give towards the homeless here.
If you really want to move to Hawaii, you have to look at every aspect of living here. There is a so many good things about it and there is a few bad things about it but overall,I personally have no regrets about moving here. It's still a great place to raise a family!
Saigontodd Find all posts by this user
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09-20-2012, 12:42 PM
Post: #4
RE: Fee simple, short sale and monthly fee?
(09-20-2012 09:22 AM)WonderinginWaikiki Wrote:   There just seems to be a very negative attitude towards the disabled because they associated the disabled with the homeless population here it seems. Wrap a bandage around any limb on your body and everyone here will start treating you with the ill will they give towards the homeless here.

Then how do you do so well there? And if you take a simply asked question seeking an honest answer like my pm truly was, then you are the one with the problem not me.
I happen to be partially handicapped, live with daily intense pain, don't get hired and with a plate and screws in my body as well but I don't take things wrong and act like an utter jerk throwing my weight around because of it.
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