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.
Browse Orange County Bank Foreclosures…
Orange County Bank Foreclosures for Sale
||$500,000 - $700,000
|$700,000 - $900,000
||$900,000 - $1,000,000
||$2,000,000 - $2,500,000
|$2,500,000 - $3,000,000
29835 Hidden Creek Drive, San Juan Capistrano
BRAND NEW CONSTRUCTION! AMAZING OPPORTUNITY! Possibly the best-priced, LUXURY HOME on the market! ONLY $320 @ SQFT. Welcome to the 'Angel Dome Villa!' Uniquely crafted, located in an exclusive and private enclave of 8 residences. Nestled along the hillsides of beautiful and historic San Juan Capistrano. Minutes from the Beach and Downtown, this spectacular home is destined to be one of the most iconic homes ever built in S.J.C. The design was
27502 Via Saratoga, Dana Point
Extraordinary Ocean View Capistrano Beach Residence, Newly built in 2006 with a Short walk to the Beach. Highlights include Formal Living with soaring ceilings and fireplace. Formal Dining Room with French doors lends itself to entertaining on both a grand and intimate scale. The large Gourmet Kitchen with stainless steel appliance, large center island with granite counter tops opening to family room with custom built in cabinetry and
508 Westminster Avenue, Newport Beach
Located along the most coveted Southern California Coastline in the heart of Newport Beach, this stunning Newport Beach estate has the most desirable Mediterranean timeless architectural design. Constructed with the finest materials, Encompassing 5,132 sq ft, including soaring ceilings an open floor plan beautifully blending interior living spaces with the outdoors that delivers a entertaining experience second to none. Two intimate entertaining
2856 Terry Road, Laguna Beach
With a stunning 2008 renovation by Laguna Beach architect Drew Blake, this home has been tastefully updated with a 2019 vibe. Mr. Blake’s vision remains the same, with two expansive viewing decks overlooking iconic Victoria Beach. A newly renovated, open concept kitchen- family room, with custom cabinetry, quartz counters, and center- island capped with stainless steel is a subtle blend of neutral tones, allowing the views to take center stage.
19 Tiara, Irvine
PRICED TO SELL! This LARGE NorthWest facing home is ready for its new owners! Located in the desirable Promenade neighborhood of Westpark, this home has been loved for nearly 30 years! This custom JM Peters home offers 4 bedrooms + large bonus room (optional 5th), 3 baths. A formal living room, transitional dining room with cozy fireplace, and large open family room with an ambundance of natural light. The kitchen has lots of storage with
1675 New Hampshire Drive, Costa Mesa
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
2039 Irvine Avenue, Costa Mesa
Spacious eastside costa mesa pool home almost newport beach large lot
20 Paseo Canos, San Clemente
Fantastic Opportunity to Become Part of the Exclusive Talega Community! Located in the Sabella Subdivision, this Highly-Upgraded "Model 3" Home features 4 Bedrooms & 3 Bathrooms w/ 2 Bonus rooms that can be used an an office, playroom, or converted into extra bedrooms! Living room w/ fireplace. Family room w/ 2nd fireplace. Newer oversized double-pane windows throughout let in lots of natural light. Window dressings throughout.
2 Via Ceramica, San Clemente
All offers due 2/10 at 5 PM. Lovely upgraded Talega home by Standard Pacific, with dramatic and panoramic views. The home is located at the end of a cul-de-sac, with only one neighboring home on one side. The open floor plan features a kitchen with Thermador appliances, a spacious master suite, and a downstairs bedroom and bathroom--providing guest privacy or a perfect space for a home office. A 15-panel solar system is installed, buyer to
17432 Meer Circle, Huntington Beach
Beautiful home on a quiet culdesac features a bright, spacious, open floor plan with 4 bedrooms, 3 baths, multiple fireplaces
and a 2 car garage. Great tile floors on the first level, double upgraded windows and fixtures, and recessed lighting. The living room is inviting and features a brick fireplace. Kitchen has upgraded counter tops and finishes, stainless steel appliances, and a walk-in pantry. The family room has a
larger fireplace and
5 Kamalii Court 274, Newport Beach
Newport Crest Townhome with attached 2 car garage.End unit allows for lots of natural light and has 3 balconies. Come and finish your beach home. Community pool & tennis. GREAT LOCATION - WALK TO THE BEACH, just minutes away from shopping, dining... Plenty of guest parking in the community.
27811 Abadejo, Mission Viejo
This lovely suburban home is located within minutes from the heart of Mission Viejo. Residents will find an assortment of grocery stores, cafes and shopping centers within minutes of the home. For those who enjoy golf, there are four courses and ranges in the nearby vicinity in all directions. Parks and recreational areas are abundant as well being so close to the canyon area. The 5 freeway makes it easy to reach multiple locations quickly
2327 Avenida Marejada 38, San Clemente
NICE , NICE THREE BEDROOMS AND TWO 1/2 BATHROOMS. NEAR THE OCEAN NOT TO MENTION ALL THE SHOPPING YOU WANT. CLOSE TO THE BEACH WHAT ELSE CAN WE SAY? YOU NEED TO COME AND SEE THIS PROPERTY. BRING YOUR REASONABLE OFFERS.
4832 Lindstrom Avenue, Irvine
1434 Montgomery Street, Tustin
Wow, best location in the neighborhood with steps to Arlington Park. Centrally located in the Tustin Legacy community of Columbus Square, this lovely Plan 2 Meriwether town home offers 3 bedrooms and 2.5 baths in a spacious two level floor plan in approximately 1800 square feet. This Lennar built home has beautiful honey stained cabinets, granite counter tops, stainless steel appliances and stunning wood floors. All three bedrooms are upstairs
16 Robins Tree Lane, Irvine
Great Price Improvement! Two level detached home in the lovely West Irvine neighborhood. Spacious floorplan with 3 bedrooms and 2.5 bathrooms. Large family room with fireplace and dining area with view of pool and spa; tile counters and flooring in kitchen; convenient inside laundry room on second floor. Ideally located near Comstock Park and Peters Canyon Hiking & Riding Trail. NO HOA DUES! Repairs needed; Property sold As Is.
26471 Cortina Drive, Mission Viejo
Fantastic opportunity to purchase a single family home in the highly desirable La Paz community. This 4 bedroom 2 bath home has plenty of potential. Oversized backyard is big enough for a pool and plenty of room to entertain. Walking distance to award winning schools: Mission Viejo High School, La Paz Intermediate School and Linda Vista Magnate Elementary School. Enjoy easy access to the freeway and the amenities of Lake Mission Viejo and the
13 Mejorana, Rancho Santa Margarita
Nice 3 bedroom 2.5 bath home needing some Updating. It features plantation shutters throughout the house. There is a walk in pantry in the kitchen and a brick fireplace in the family room. Backyard boasts an inground spa and a patio deck. Ideally located close to community park and pool. Near the RSM lake and the swimming lagoon. There is only one HOA which includes 4 pools, tennis courts, parks and picnic areas.
26 Corniche Drive D, Dana Point
Located in the gated community of Ritz Pointe, this Large 2 bedroom, 2 bath in “Monarch Hills Condo” is all about resort-style living. Nicely upgraded home with impressive stacked stone fire place, wood laminate and tile floors, tile counters, dual pane windows and slider doors. The bedrooms are huge and both have walk in closets. The master bath has been upgraded with tile shower. The kitchen has ceramic tile floor, stone counters and a
28101 Montecito 12, Laguna Niguel
This upper level, end unit condo offers an exceptional value! This is the least expensive 3 bedroom condo in all of Laguna Niguel. Condo offers 3 bedrooms, upgraded kitchen and flooring, fireplace, vaulted ceilings, ample natural light, laundry area off kitchen, 2 patios, a detached garage and more. The community offers ample parking, community pool and spa and nicely maintained grounds. Units have been re-piped within
14552 Holt Avenue C, Tustin
30738 Calle Chueca, San Juan Capistrano
Spacious 1,025 sq ft open floor plan that opens to a Family Room with a gas fireplace, Dining Room and Kitchen. Two Spacious Bedrooms and bathrooms. Home offers a Two Car direct access garage (which is rare), with Side by Side Laundry Hookups and lots of Storage. Relax in your large Private Rear Patio and BBQ Island while enjoying cool coastal breezes. HOA features a refreshing Community Pool and nearby neighborhood play areas. Additionally, you
22216 Rim Pointe 7f, Lake Forest
Cute and cozy 2 bedroom, 1 bath condo in Lake Forest. Light and bright open concept floor plan. 2nd Floor unit (no one above!). Come put your touch on this beautiful condo with walk-in closet, plenty of linen storage and 1 carport space. Plenty of on-site guest parking. Walking distance to restaurants, shopping, freeways and much more. Just minutes to Disneyland! This is a short sale and all terms and conditions are subject to lien
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.
- 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.