Laserfiche WebLink
Chapter 7 <br />Unactionable Parcels <br /> <br />Bar Chart. <br /> <br />1st Bar: 7.7 Million in Time & Cost, <br /> <br />2nd Bar: 1.4 Million in Lava, <br /> <br />3rd Bar: 0.7 Million in Low Value, and <br /> <br />4th Bar: 0.5 Million in Unsold at prior auction. <br /> <br />Pie Chart. <br /> <br />Time & Cost: 74.9%, Lava 13.08%, and Low Value 7.08%. <br /> <br /> <br />Status, Parcel Count and Dollar Owed. <br /> <br />Time & Cost, 224 parcels, $7,747,953.96; <br /> <br />Lava, 449 parcels, $1,352,828.88; <br /> <br />Low Value, 397 parcels, $732,748.94; <br />& <br /> <br />Unsold at prior auction, 120 parcels, $511,252.77; <br /> <br />Total: 1190 parcels, $10,344,784.55. <br /> <br /> <br />Figure 6,data provided by RPT,compiled courtesy OCA. <br /> <br />RPT's Category Definitions <br /> • Time and Cost- Title has communicated it is unable to provide a litigation guarantee due <br /> to the inability to process the guarantee within the window of time allotted or a complex <br /> chain of ownership exists that would contribute to an exorbitant cost to produce a litigation <br /> guarantee. <br /> • Lava - Lava inundated properties where market values are lower than the upset price <br /> (example: Royal Gardens, Kapoho, Kalapana) <br /> • Low Value - The upset price is greater than 50% of the market price of the property <br /> • Unsold at Prior Auction - Unsold at prior auction with no successful bid obtained for the <br /> upset price (inclusive of taxes, penalty, interest, and tax sale fees). <br /> <br />Audit Activity <br />To verify the unactionable parcels section, we conducted the following audit activities: <br /> • Reviewed foreclosure process notes <br /> • Reviewed the Vendor Contract <br /> • Reviewed Chapter 19 of the Hawaii County Code <br /> <br /> <br />35 Page <br />