Every Sunday I host an Open House on Oahu

This is Hawaii’s Tangee Lazarus REALTOR(c), ( RS- 87870). I am associated with Coldwell Banker and I host open houses for a number of reasons.  Of course, every agent wants to connect with buyers who do not already  have an agent. If someone has an agrnt, ethically, that represented person is strictly off limits.  It is not acceptable to present oneself as an alternative agent, and try to “snake” a client. Looking for clients is an ever-present adventure and open houses often create opportunities that are mutually beneficial.  However,  there are other reasons to host open houses. I will focus on one of the reasons that has come to interest me.

Every listing has a story

The properties are added unique as the peopke, of course, and interestingly, the missions of the open houses differ too.  It is not just about gibding a buyer, end of story.

Recent Open House History

• August 31, 2025, I hosted 1621 Dole Street #705. This is a fixer-upper that is priced to sell. A buyer needs to get a contractor to look at the property and design a proposal to do the work. The cost of the work will be approved by a lender.  Still available with a price drop!

• September 07, 2025, I hosted 91-1159 Kamakana Street #715, Ewa Beach. This split-level, 3/2.5 has a VA assumable loan.  Anyone, not just veterans, can take advantage of the option to take over the loan at an amazing  2% interest rate. They just need some additional funding and I have personal relationships with bankers who can make financing happen if there is any possibility at all. The price just dropped by $20,000 and it is still available.
•   September 14, 2025, I hosted 98-288 Kaonohi Street #3901, Aiea. The magic number is 2: bedrooms, bathrooms, covered parking. Conversations with neighbors revealed that the high floors in the building are unofficially called “the Penthouse. ” The view is spectacular. One can see Diamond Head to the left, the route to the North Shore to the right, and in the center, there is a bird’s-eye view of Pearl Harbor and the Arizona Memorial.  The clear visibility of the Honolulu rail trains,  which pass each other going in opposite directions on curved tracks, completes the “wow” factor.  Perfect for first-time homebuyers. Still available!
• September 21, 2025, I will be at 85-549 Momona Place in Waianae. The interesting story here is that the buyer is seeking backup offers. What is a backup offer? Right now, there is an offer in place, and the property is reserved for that buyer, unless something changes. Yes, when buyers start looking for property, a lender will give them a pre-approval letter stating how much of a loan they may get. But, if their credit changes for the worse due to ramped-up credit card use or job loss, the financing won’t happen.                                        Or, the house might be professionally appraised for less than the agreed-upon price. For a simple example, we agree I will buy the home for $200 and I ask the bank to lend the cost. But the home is professionally appraised at $100. The bank says “No way! If you default and we have to foreclose, we cannot recoup the cost of the loan.” I could ask the seller to reduce the price the but …the seller refuses out of the belief that the property will sell for the asking price. No deal.

When the deal falls apart, the seller’s agent acknowledges the cancellation in writing, and can then move on to the first backup offer. The home does not have to get listed all over again. The backup buyer can step right into the process.. (Note: once the seller is contractually bound to a buyer, the seller cannot just toss out the offer if a better offer comes along. The deal must fall apart first through no influence of the backup.)

How likely is it that a backup gets the property?

It happens.  It is not rare or surprising. If a person wants the property and it has not closed, put in an offer if backups are welcome.

Transparency

I want to be clear about the high demand for the Waianae listing, and the fact that there’s no guarantee the backup will move into the first position. But, such is life. If we had guarantees it would be boring!

Any Property Interesting?

If you are interested in the stories…if you understand we are in a buyer’s market…if you see the interest rates dropping…if you have been pre-approved AND do not yet have an agent, call or text me directly. We can do this!

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#waianae

#backupoffers

#hawaiirealestate

#tangeelazarus

#coldwellbanker