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 below.

Orange County Bank Foreclosures for Sale

All Listings Under $500,000 $500,000 - $700,000
$700,000 - $900,000 $900,000 - $1,000,000 $1,000,000 - $1,500,000
$1,500,000 - $2,000,000 $2,000,000 - $2,500,000 $3,000,000 - $4,000,000
Over $10,000,000
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$11,500,000
 

2000 E Oceanfront, Newport Beach

5 Beds, 6 Baths, 3,968 SqFt
As featured in Elizabeth McMillian's book "Beach Houses: From Malibu to Laguna," we are proud to present the iconic "Balboa Beach House." This treasure was designed by the late world renowned Arthur Erickson. This stellar property is a cohesive blend of steel, glass and stone, juxtaposed against the landscape of ocean and earth. The unique seaside estate situated on the secluded and private end of the Balboa Peninsula offers
$3,500,000
 

511 Cliff Drive, Newport Beach

6 Beds, 7 Baths, 6,850 SqFt
Beautiful 2-Story Home in Prestigious Cliff Haven enclave of Newport Heights. Completely remodeled in 2004, this home offers 6 Bedroom / 7 Bathrooms & 6,850 square feet of living space (per owner/builder). Backyard w/ pool & spa. Short sale subject to lender approval. Property is being sold AS-IS.
$2,298,000
 

35 Crimson Rose, Irvine

5 Beds, 6 Baths, 3,116 SqFt
FORMER MODEL w/approx $500K in designer builder upgrades, 1 OF A KIND property boasts, city & mountain VIEWS on over-sized pie shaped very private lot w/90 sq.ft wide back yard & wrought iron fence. Abundance of decorator features including wood, travertine & stone floors throughout, wood-beamed ceilings, decorative wrought iron accented entry door & elaborate stairway banister, 5 sets of French Doors, invisible screens,
$1,699,900
 

27772 Somerset Lane, San Juan Capistrano

5 Beds, 5 Baths, 4,984 SqFt
THE PRESTIGIOUS QUIET AND EXQUISITE COMMUNITY OF THE HUNT CLUB IS CALLING! TUTOR-STYLE THROUGH AND THROUGH THIS LARGE EXPANSIVE HOME WITH GORGEOUS VIEWS AND POOL WITH SPA IS AWAITING YOUR RECEPTION. ENTRY THROUGH THE GRAND FOYER LEADS YOU TO A OFFICE LIBRARY, ELEGANT DINING AND LIVING ROOM. ONE DOWNSTAIRS BEDROOM WITH GOURMET KITCHEN, BREAKFAST NOOK, AND FAMILY ROOM. ASCEND UP THE GRAND STAIRCASE TO MULTIPLE BEDROOMS AND BATHS. THROUGH THE
$1,619,900
 

26201 Mount Diablo Road, Laguna Hills

4 Beds, 5 Baths, 4,637 SqFt
Recently Reduced! Wonderful Nellie Gail Ranch location on quiet cul-de-sac in Laguna Hills. Exceptionally high ceilings and unusual accents make this a dramatic home. The spacious two-level floor plan features four large bedrooms with ensuite bathrooms; formal living and dining rooms; great room with attractive tavern-style wet bar with dark wood paneling; spacious kitchen with breakfast alcove, granite counters and stainless appliances
$1,265,000
 

1196 Avenida Buena Suerte, San Clemente

4 Beds, 4 Baths, 3,666 SqFt
Welcome home to the city of San Clemente, and to the hills that reward the lucky few with Ocean vistas. The city is home to the former Western White House, great surfing, and perhaps the center of the media world for surfing magazine publishing. This four bedroom, four bathroom home features a formal dining room, formal living room, and a great room with views of the ocean comprised of the kitchen, breakfast area and family room. Other features
Reduced
$1,250,000
 

25392 Village Road, Dana Point

3 Beds, 3 Baths, 3,286 SqFt
Welcome home to the city of Dana Point, and to the sought after community of Village at Dana Point. Located nearly ΒΌ of a mile from the harbor, the beach and headlands, you will need to wash the sand off your feet when you get back home! This is a two-story home configured with the main floor at street level and the second floor below grade. The main floor features the master suite, formal powder room, a large private office with custom
Reduced
$1,050,000
 

10 Cornwallis, Irvine

4 Beds, 3 Baths, 2,470 SqFt
Beautiful home in the highly desirable area of Irvine! Nestled in a quiet community with NO HOA! I repeat NO HOA fees! This home is mins from shopping, freeways and the Oak Creek Golf Club. And it is literally 3 houses down from Carrotwood Park! As for the home itself, you walk in to a huge open space with a vaulted ceiling in the living room which includes a skylight! The family room is right next to it split by a quaint double ended fireplace.
$1,049,000
 

31801 Via Coyote, Coto De Caza

5 Beds, 3 Baths, 3,370 SqFt
PRICE REDUCED $100,000 FOR FAST SALE! Contemporary Meets Comfort in this wonderful highly upgraded custom Coto Village home. Enter the home up the brick-lined steps into the double door 2-story foyer. Enjoy the sunny formal living room with dramatic black marble grand fireplace & large viewing windows. Prepare wonderful meals in this gourmet kitchen complete with energy efficient stainless steel appliances, cherry wood cabinets, hardwood
$1,039,900
 

16627 Sonora Street, Tustin

5 Beds, 4 Baths, 2,828 SqFt
Welcome Home to Columbus Grove in Tustin located in the Irvine School District. 5 Bedrooms, 4 Bathrooms, 2 Car Garage, Approx. 2,780 SF., 2-Stories Downstairs: Formal Living Room / Dining Room combo; Secondary Bedroom; Full Bathroom; Kitchen / Family Room combo; Laundry Room; Garage Direct Access. Upstairs: Master Suite/Bathroom; Secondary Bedroom w/Private Bathroom; 2 Additional Secondary Bedrooms with a Jack-N-Jill Bathroom Kitchen:
$980,000
 

46 Feather Ridge, Mission Viejo

5 Beds, 3 Baths, 3,236 SqFt
Striking sunset and city lights view home in the prominent gated community of Quail Run. This grand home features a brilliantly updated floor plan for today's needs. Once inside, be enthralled by cathedral ceilings, travertine, hardwood floors, marble painted columns and an abundance of natural light. Yes, this home has a large bedroom and bathroom on the main level along with living & formal dining rooms. The huge gourmet kitchen features
$967,000
 

31 Goldbriar Way, Mission Viejo

4 Beds, 4 Baths, 3,618 SqFt
A Talaverde home in Painted Trails area: a great opportunity for a discerning home seeker who wants a property with a great view of canyon city lights views, beautiful view of the sunset. A great property with exceptional upgrades. Built in early 2001, still look new like yesterday. Formal home with Central Conditioning & Central Heating System; Large Master Bedroom; Formal Living Room; A Den on the first floor and a Bonus Room at the 3rd
$935,000
 

30 Skycrest, Mission Viejo

4 Beds, 4 Baths, 3,451 SqFt
APPROVED PRICE SHORT SALE, READY TO CLOSE, CASH or HARD MONEY BUYERS ONLY , Looking for a fixer? One of the largest floorplans in Quail Run, a prestigious gated community that offers plenty of recreational facilities for the whole family. Located on a quiet cul-de-sac with an elevated view- this property has potential! 4 bedrooms 4 baths, in-ground pool and spa ready for you to step in and make it your own! As-Is, Please DND seller
$900,000
 

115 6th Street, Huntington Beach

3 Beds, 11 Baths, 1,691 SqFt
Short sale home. Drive by only.
$825,000
 

17 Tuscany, Ladera Ranch

4 Beds, 3 Baths, 2,567 SqFt
Four bedroom VIEW Castillina townhome located in the prestigious guard gated community of Covenant Hills. Freshly painted, new carpet, updated master bath counters, flooring and free standing tub. The HOA recently did some exterior painting. The downstairs has indoor outdoor living with French doors in the living room opening to the spacious view backyard. Kitchen has a center island, wine refrig. and opens to a family area with a fireplace.
$819,900
 

3115 Samoa Place, Costa Mesa

3 Beds, 2 Baths, 1,477 SqFt
Prime location in the coveted Mesa Verde community!! The interior of this 3 bedroom home features an inviting living room adjacent to the dining area. Some of the upgrades include a remodeled kitchen with granite countertops and travertine backsplash, upgraded windows, extra large hallway bathroom, crown molding, 20-inch ceramic tile floors & newer forced air unit. The master bedroom is conveniently connected to the fully enclosed and
$792,500
 

4462 Walnut Avenue, Irvine

4 Beds, 3 Baths, 1,750 SqFt
Welcome to this TURN KEY property located in the coveted Irvine School District. Situated just off of Walnut Ave across from Irvine High School, the property has new distressed wood tile flooring, new white wood shaker kitchen cabinets, new quartz countertops and stainless steel sink. The property has two master bedrooms, with one upstairs (along with a separate full bath) - perfect for a little space from the kids or a separate living area for
$790,000
 

3022 College Avenue, Costa Mesa

4 Beds, 2 Baths, 1,778 SqFt
Great home in a fantastic location of Costa Mesa, near everything! Great to walk around town. House has plenty of space and a great layout. Big kitchen with plenty of lighting, huge formal dinning room, massive family room and a big yard. A single story home with a nice master bedroom.
New
$750,000
 

26605 Baronet, Mission Viejo

4 Beds, 3 Baths, 2,101 SqFt
This Mission Viejo 2100 sq ft, 4 bedroom and 2.5 bath home is nestled in the highly desirable neighborhood of Auburn Ridge. The lower level of this fantastic home is designed to flow well from the entry to the living/dining area then onto the open kitchen or family room which has a charming wood burning fireplace. A full size private laundry room with cabinets is also located on the first floor. Upstairs you will find the master bedroom with
$749,000
 

25371 Remesa Drive, Mission Viejo

3 Beds, 2 Baths, 1,726 SqFt
SUNSET VIEWS! Single Story Home located on a spacious lot in the rolling hills of Mission Viejo. This 3 bedroom 2 bath home has high ceilings, recessed lighting, all new windows, crown molding, new air conditioning, new tankless water heater and remodeled bathrooms, second bathroom with jacuzzi bathtub. The home has a permitted addition of an approx. 300 sq ft off of the kitchen perfect for a Great Room/ Bonus Room that is light and bright. The
$700,000
 

42 Lyon, Aliso Viejo

4 Beds, 3 Baths, 2,671 SqFt
Property needs TLC, sold as-is, great location
$699,000
 

16772 Scotsdale Circle, Huntington Beach

5 Beds, 3 Baths, 1,948 SqFt
Cul-De-Sac home with a large lot. Great floor plan, four bedrooms downstairs including the master bedroom, upstairs is a 2nd master bedroom with full bath. Kitchen and main bath were remodeled a while back, dining area, living room has a fireplace, long driveway, backyard is huge. The home needs some work, it is being sold "as-is", the property has a ton of potential.
$690,000
 

30081 Corsair, Laguna Niguel

4 Beds, 3 Baths, 2,027 SqFt
Spacious home located on a quiet cul-de-sac!! The neighborhood is Hidden Hills in the exclusive community of Sterling Niguel. Visit the nearby parks. Large master with room for office area or sitting room, plus walk in closet. Separate living room with fireplace. Kitchen opens up to the family room with sliding doors to the backyard. Downstairs bed and bath. Home needs work but is priced accordingly. Imagine the dream!! Don't miss out on this
$649,900
 

23391 Devonshire Drive, Lake Forest

4 Beds, 3 Baths, 2,445 SqFt
Split Level Deane Home with private Pool & Spa in backyard. This home features a large living room, formal Dining Room and Hardwood Floors. The Family Room has a full wet bar & built-in bookshelves. Enjoy access to the backyard pool through large French Doors in the living room. The large master suite is light and bright and overlooks the pool and spa in the backyard. This is a great home for entertaining. Membership in the Lake Forest
New

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.

1. 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.

2. 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.

3. Trustee's Sale

Most purchasers of foreclosure homes for sale prefer to acquire their properties at the trustee's sale. At thistime, 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.

4. 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.

5. 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 also 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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