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
$2,000,000 - $2,500,000 $5,000,000 - $7,500,000
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$6,795,000
 

89 Canyon Creek, Irvine

6 Beds, 11 Baths, 11.4k SqFt
Welcome home to the exclusive golf preserve of Shady Canyon, and to a faithful interpretation of a Tuscan Villa complete with a tower reminiscent of those of San Gimignano. The artistic blending of old world elegance with contemporary luxuries created this masterpiece. Situated on a commanding elevated corner lot, the architect's vision has been executed brilliantly by the very best craftsmen employing time-honored techniques while utilizing the
$2,350,000
 

212 Via Socorro, San Clemente

5 Beds, 6 Baths, 4,543 SqFt
Brand New Construction, built in 2019, meticulous attention to detail and superb craftsmanship permeate every aspect of this luxurious ocean view home. The modern open-concept layout features 4 ensuite bedrooms, a casita with a separate entrance and a full bathroom (optional 5th bedroom), a large bonus room upstairs, 2 large verandas and a rooftop deck with panoramic ocean views. White oak cabinetry, Cambria quartz countertops, Wolf and Sub-Zero
New
$2,275,000
 

2856 Terry Road, Laguna Beach

4 Beds, 4 Baths, 2,598 SqFt
This sleek, contemporary home has been tastefully updated to capture the stunning views overlooking iconic Victoria Beach. An open-concept kitchen, family room with custom cabinetry, quartz counters, and center- island, creates a subtle blend of neutral tones, allowing the views to take center stage. Draw back the wall of Cantina doors and double your entertainment space. Downstairs are three bedrooms and two and a half baths. The entire second
$1,499,000
 

17 Calle Canella, San Clemente

6 Beds, 7 Baths, 4,951 SqFt
Back on the market, Premier Talega community! Unique opportunity to own this extraordinary Mirador estate home, with almost 5,000 square feet of gorgeous interior space. Boasting 6 bedrooms and 6 ½ bathrooms with breathtaking views of adjacent hills, and city lights. With a tranquil back yard, this home is complete with solar heated pool and spa, fire pit and built-in BBQ – it’s a retreat to envy! Numerous stately upgrades throughout
$1,400,000
 

31471 West Street, Laguna Beach

2 Beds, 1 Bath, 1,416 SqFt
This is a unique investor opportunity in fantastic city of Laguna Beach!
$1,200,000
 

22881 Driftstone, Mission Viejo

5 Beds, 4 Baths, 3,556 SqFt
Ideally located on a private cul de sac within the gated Stoneridge community, this handsome Spanish home is a perfect fit for either a multi- generational or busy working family. With two bedrooms downstairs at separate ends of the house, there’s ample room to customize for your individual needs. The two story living room is wrapped with gallery style hallways above. A huge, open concept kitchen/family room, with fireplace, breakfast nook and
$1,100,000
 

50 Rockrose, Aliso Viejo

5 Beds, 4 Baths, 3,200 SqFt
Located in the Vista Ridge tract. This Beautiful home features 5 bedroom, 4 baths PLUS a exra-large bonus room. Walk into this home and find a elegant entrance Formal dining room and living room offers plantation shutters for lots of natural light. Downstairs there is a bedroom and guest bath with shower. Family room with cozy fireplace, high ceilings and built in shelving, Opens to kitchen and eating area. Kitchen features, Granite
$999,000
 

27941 Rural Lane, Laguna Niguel

5 Beds, 3 Baths, 2,410 SqFt
Sitting on an elevated lot, with no home behind you and mountain and sunset views from the Master bedroom, this home will not disappoint. A gracious entry reveals soaring ceilings, circular staircase, and a terrific, open floor plan. The kitchen/family room has a center island and fireplace flanked by handsome bookcases. A downstairs bedroom and bath are perfect for extended family. Don't forget to open the "secret" door in the laundry
$900,000
 

2039 Irvine Avenue, Costa Mesa

4 Beds, 3 Baths, 2,416 SqFt
Spacious eastside costa mesa pool home almost newport beach large lot
$899,000
 

1675 New Hampshire Drive, Costa Mesa

4 Beds, 3 Baths, 2,063 SqFt
Your family will love this spacious, remodeled two-story beauty, in the desirable State Streets area of Mesa Verde. This home was significantly rebuilt ten years ago, to approximately double its original size. The roomy, open kitchen is an entertaining cook's dream, with a JennAir professional cooktop, dual ovens and warming drawer. The kitchen and dining room both open into a large living room, with soaring cathedral ceilings. One bedroom
$881,900
 

611 Calle Campana, San Clemente

8 Beds, 7 Baths, 3,680 SqFt
Welcome home landlords to the city of San Clemente and to the opportunity to own one of the rare fourplexes in this Coastal Resort. 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-Unit Two Story property features one 3 bedroom two bath unit, two 2 bedroom 2 bath units, and one 1 bedroom 1 bathroom unit. Other features include a community
$799,000
 

25922 Pasofino, Laguna Niguel

4 Beds, 3 Baths, 1,965 SqFt
WHERE ELSE CAN YOU FIND A 4 BEDROOM SINGLE FAMILY HOME AT THE END OF A CUL-DE-SAC ON A LARGE LOT IN A GREAT NEIGHBORHOOD? THIS IS AN ABSOLUTE GEM. THIS HOME IS HAS 4 FULL BEDROOMS (ALL UPSTAIRS) AND A LARGE YARD, LARGE GARAGE WITH STORAGE, AN RV SIZED SIDE YARD WITH AVAILABLE EXTRA STREET PARKING, PLENTY OF ROOM FOR A POOL OR DESIGN YOUR ADU (AUXILIARY DWELLING UNIT) COMMONLY KNOWN AS A CASITA, OR IN-LAWS QUARTERS. ENJOY THE END OF THE
$795,000
 

4 Via Oviendo, San Clemente

4 Beds, 3 Baths, 2,234 SqFt
Beautiful home located within the highly desirable Amalfi tract of Talega. Enjoy all the amenities that living near the beach has to offer. This rare extended driveway with wrought iron gate, leading up to the home creates even more outdoor space for extra parking and outdoor activities. This popular Plan 2 boasts 4 bedrooms, two-and-one-half baths and a very open floor plan. Enjoy gatherings around the large open kitchen with stainless steel
$780,000
 

40701 Ortega, San Juan Capistrano

4 Beds, 4 Baths, 3,500 SqFt
This is the house we all have been waiting for to come on the market!!! Amazing panoramic views of the hills and the valley! This home has 3 bedrooms with 2 master suites, a family room, living room and area for a pool table/games. Also included is a awesome detached guest house with a bedroom, laundry area and full kitchen. Then we have a 4 car garage and workshop in garage. This one has soooo much potential! Did I mention the panoramic
$699,000
 

24942 Georgia Sue, Laguna Hills

4 Beds, 2 Baths, 1,895 SqFt
Single Level 4 bedroom 2 bath SFR with approx. 1895 sq.ft of living space located in this highly Desirable community! Nestled within prestigious Laguna Hills, tile floor and carpet in living room. Kitchen has electric cook top, microwave, tile counters and cabinets for storage. Breakfast counter off kitchen open to family room with fireplace. Direct access 2 car garage. backyard with patio and in ground spa. Hiking/biking trails, community
$394,000
 

13 Baya, Rancho Santa Margarita

2 Beds, 2 Baths, 1,000 SqFt
Charming 2 bedroom, 2 bathroom condo with 1 car garage and 1 carport. Located in La Ventana community built in 1990. This property features a fireplace and vaulted ceilings.

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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