Orange County Bank Owned Foreclosures & REO Properties

We Specialize In Orange County FORECLOSURES!

Orange County bank foreclosures also known as REO properties (Real Estate owned) often represent a great way to get a below-market price on a home. We have put together on our site all available bank foreclosure homes and REO properties for sale conveniently organized by city and price range. Feel free to browse the current inventory below or search by individual city, and make sure to read our foreclosure tips on how to buy bank foreclosure homes for sale. Sign up for daily updates to ensure you receive all new foreclosure listings right as they become available. Read more about Orange County bank foreclosures

Browse Orange County Bank Foreclosures…

Orange County Bank Foreclosures For Sale, $400,000 - $500,000

All Listings	Under $100,000	$100,000 - $200,000
$200,000 - $300,000	$300,000 - $400,000	$400,000 - $500,000
$500,000 - $600,000	$600,000 - $700,000	$700,000 - $800,000
$800,000 - $900,000	$900,000 - $1,000,000	Over $1,000,000

$499,900
Huntington Beach
Beds: 3, Baths: 2
Residential

Bank Owned. Property Sold As-is, No Warranties Expressed Or Implied. Very Nice Pool Home Located At The End Of The Cul De Sac. Has 2 Fireplaces,...

Mark Edward Cestaric

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$499,900
Rancho Santa Margarita
Beds: 5, Baths: 3
Residential

Cul De Sac View Location On Single Loaded Street. Two Story Home With Main Floor Bed And Bath. Open Floor Plan With Granite Countertops In Kitchen....

Coldwell Banker

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$495,900
Irvine
Beds: 3, Baths: 3
Residential

Welcome Home This Area Of Irvine Is A Great Community For Families And The Schools Are Amongst The Best In The Nation. The Condo Features Three...

Albert Del Rio, Broker

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$492,900
Irvine
Beds: 3, Baths: 3
Residential

Prestigious Gate Guarded Northpark. Versatile Loft Like Tri-level Plan WOne Bedroom Downstairs WFull Bath. Living Room WVaulted Ceilings &...

Frank Gibson Realty

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$489,901
Mission Viejo
Beds: 3, Baths: 3
Residential

Kaufmannbroad, Home-located In A Desirable Area Mission Viejo, ty To The. This Home Is In Very Close Proximity To Parks, lake Mv & Convenient...

Keller Williams Realty

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$489,900
Irvine
Beds: 3, Baths: 3
Residential

Beautiful And Bright Spacious 3 Bedroom 3 Bath Condo With 2 Car Direct Garage Access. Located In The Desirable Quail Hill Neighborhood. Community...

Greentree Properties

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$489,900
Laguna Hills
Beds: 4, Baths: 3
Residential

Single Family Home In A Close-knit Community Of Castle Hill. This 4 Bedroom Home (With 4th Bedroom Setup As A Large Loft, Living Area) Offers...

Coldwell Banker

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$487,402
San Clemente
Beds: 3, Baths: 2
Residential

Fantastic Opportunity In Desirable Rimrock Neighborhood. This Single Level Home Has Nice Views And A Large Yard. Three Bedrooms And Two Bathrooms....

Surterre Properties Inc

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$485,000
Costa Mesa
Beds: 5, Baths: 3
Residential

Great Family Home With Good Bones Ready For Your Designer&aposs Touch Property Includes 5 Bedrooms And 3 Baths Large Kitchen With Granite...

Pacific Moon Real Estate

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$484,900
Huntington Beach
Beds: 3, Baths: 2
Residential

This Lovely Huntington Beach Home Features 3 Bedrooms, 2 Upgraded Bathrooms, A Spacious Kitchen With Upgraded Tile And Cabinets, A Built-in Barbecue...

Ardor Realty, Inc

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$475,000
Irvine
Beds: 2, Baths: 3
Residential

Beautiful Townhome In Woodbury, 2 Bed, 1 Bonus Room, 2.5 Bath, Approx. 1850 Sqft Interior, Many Upgrades Granite Counter Tops In Kitchen &...

Cornerstone Real Estate Intern

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$475,000
Aliso Viejo
Beds: 3, Baths: 3
Residential

Charming Pacific Grove Residence Nestled In The Beautiful City Of Aliso Viejo Sits This 3 Bedroom, 2.5 Bathroom Home. Light And Bright With Lots...

Prudential Calif Realty

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$475,000
Huntington Beach
Beds: 3, Baths: 4
Residential

Fabulous Deal For This Very Spacious One Level Condo In Bayport Huntington Harbour. Located In A Gated Community With Ocean And Harbor Views....

Prudential California Realty

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$474,900
Huntington Beach
Beds: 3, Baths: 2
Residential

Great Price This Is A Beautiful Home In Huntington Beach With 3 Beds And 2 Baths It Has Tile Floor In Kitchen And In Entry, A Bright Open Floor...

Star Real Estate / Seacliff

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More About Orange County Bank Foreclosures & REO Property

Locating and Purchasing Foreclosure Properties

Properties heading into foreclosure, or actually in foreclosure can be very "good buys". So can properties offered by relocation companies and corporate owned. Finding homes that fall in these categories can be difficult, often properties that are advertised as foreclosures are already sold by the time the advertisement is published. Web sites offering foreclosures for sale are often woefully "out-of-date". Negotiating for these types of properties requires representation by Real Estate agents experienced in these types of challenging negotiations - there are often "multiple offers" to buy these properties! Our Consulting Team has handled many properties in foreclosure and those being sold by relocation and corporate owned companies. Please contact us if you are looking for experienced representation.

Five Ways to Acquire Orange County Foreclosures

In general, there are five basic ways to acquire foreclosure homes for sale at discounted prices. All but one of them permit the buyer to pay for qualified assistance from other sources (such as a title and/or escrow company). Unfortunately, the most popular technique (buying properties at the trustee's sales) allows no such luxury. The purchasing process at the trustee's sale requires each buyer to make his own thorough investigation of both title and debt on the chosen property within a limited time frame.

Delinquent Seller

The first and simplest way to buy properties under the fair market value arises when the delinquent (not defaulted) owner is uncovered. The delinquent seller will not have made recent payments of principal, interest, taxes or insurance and/or may have reduced the value of the property through benign negligence or lack of funds. When the delinquent owner realizes that he will be unable to meet the commitments on promissory notes and trust deeds for an extended period, he may choose to sell his property even at a discounted price rather than proceed through the foreclosure process.

The wise buyer will point out to the delinquent (and later defaulted) owner how he will be harmed by proceeding through the brief foreclosure process to the trustee's sale. At that point, the owner will lose his property, lose his equity, reduce his credit standing as a result of the recorded foreclosure and may have taxable income due the IRS for the amount of the debt reduction (elimination of the trust deed debt) resulting from the trustee's sale. Selling to an interested buyer at a discounted price may well be the most convenient solution for the troubled, delinquent owner.

Defaulted Seller

The property owner becomes a defaulted owner when the trustee for the beneficiary records a Notice of Default. During the following three month plus three week period, a Notice of Trustee's Sale also will be recorded and published in a local adjudicated newspaper once a week for three weeks just prior to the trustee's sale. Live-in buyers of the property of the defaulted owner may negotiate any reasonable purchase price and terms for the property with the defaulted owner. Investors who seek to purchase the primary residence of a defaulted owner of one to four units and who are not related to that owner must work with the equity seller under the restrictions of two California Civil Codes which can make such purchases more difficult. These restrictions require the use of a special contract with a Notice of Cancellation, permit the equity seller to pursue the equity purchaser for unconscionable advantage for two years after the sale, and eliminate the use of outside assistance in the pursuit of a foreclosure property. Investors who unwittingly or intentionally become foreclosure consultants to equity sellers may also place themselves in jeopardy under certain conditions.

Trustee's Sale

Most purchasers of foreclosure homes for sale prefer to acquire their properties at the trustee's sale. At this time, it is possible to make property purchases without being in contact with the defaulted owner or foreclosing lender. Money talks. Anyone with money may make a purchase regardless of credit, race, religion, etc. The verbal auction permits the highest bidder to acquire a property by paying off only the remaining balance on the foreclosing loan regardless of the fair market value of the property. Debt recorded after the date of recording of the foreclosing loan is eliminated. Problems of unanticipated repair, eviction, payoff of superior loan(s), possible IRS redemption and inadequate research can present formidable obstacles to the inexperienced buyer.

REO Lender

When a trustee's sale is held with no bidder present, the property is said to be "sold" to the foreclosing lender. The REO lender usually will sell the property rather than retain the property as part of the lender's non-performing assets. If no one buys the property at a Trustee Sale, the mortgage holder becomes the owner of the home. These are called "REOs." or Real Estate Owned (It's possible that a homeowner could also tender the deed due to an inability to pay.) The bank is now selling the property with the intention of getting the loan amount out of the sale. The bank specializes in lending money for home loans not the disposition of assets. Of course the bank wants to maximize the amount of the sale, but given the speed at which the bank wants to recover their money, many times REO properties for sale will be sold at discounted prices.

Friendly Junior Note

The fifth way to buy foreclosures is just a bit more complex but is an attractive way to acquire properties with less competition than purchasing at the trustee's sale. If the holder of the junior loan to the foreclosing loan agrees to sell his promissory note and trust deed at a substantial discount, the purchaser of the junior loan may cure the underlying senior loans and then foreclose himself on the newly acquired junior loan. The sale of the property through the junior loan can bring immediate return on the face value of the junior loan of the acquisition of the property with attractive equity.

Recommended Books

Buying Real Estate Foreclosures
Big Money in Real Estate Foreclosures
How to Invest in Real Estate Using Free Money
How to Pick Up Foreclosures: Step-By-Step Guide
Real Estate on the Brink: Making Money in Distressed Properties

If you would like further information or assistance regarding foreclosure real estate and available foreclosure homes for sale throughout Orange County, please contact us

We can set up your own custom foreclosure search which will be emailed daily; please complete the form below and we will get you started right away.

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Orange County Bank Owned Foreclosures & REO Properties

We Specialize In Orange County FORECLOSURES!

Browse Orange County Bank Foreclosures…

Orange County Bank Foreclosures For Sale, $400,000 - $500,000

More About Orange County Bank Foreclosures & REO Property

Locating and Purchasing Foreclosure Properties

Five Ways to Acquire Orange County Foreclosures

Delinquent Seller

Defaulted Seller

Trustee's Sale

REO Lender

Friendly Junior Note

Recommended Books

Orange County Real Time Market Data & Reports

Latest Bank Foreclosure And Short Sale Stats For Orange County

Larger Listing Photos & Browse By Subdivisions/Complexes

Orange County Short Sale Agents & Realtors

Foreclosures

Property Search

My Control Panel

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Specialty Homes

Testimonials

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