Orange County short sales or short sale homes sales are popular for a reason: a large portion of the real estate purchases in Orange County in the past years were done with little to zero down payment, and now these homes are 'underwater', the sellers owe more money than the property is worth, needing some forgiveness from the lender at the moment of selling. The short sale happens when the lender agrees to discount the amount owed on the home. Since the foreclosure process can be lengthy and more costly than accepting a short sale, most lenders are willing to negotiate the sale of a home with the current home owner and a potential buyer, while accepting less than the amount owed before the home goes in foreclosure. Short sale processes can be very time consuming and sometimes it can take months to negotiate a short sale, so if you need to move into a home quickly, short sales are probably not the right thing to pursue, and home buyers should look into standard sales or bank owned sales. Read more about the Short Sale process in Orange County below.
Below are short sales in Orange County, California. This page is updated daily with photographs, descriptions and maps of Orange County short sales. For further information about any of these Orange County Short sales, please contact us.
If you are looking for foreclosures instead of short sales visit our Orange County foreclosures page. It is updated daily with bank owned properties in Orange County, California.
Nestled in the coastal enclave of Corona Highlands and designed by renowned architect Harold B. Zook, this wonderfully appointed custom home offers a livable, open concept floor plan that blends seamlessly with its outdoor spaces featuring a serene courtyard fountain cascading into the spa. Welcomed by a sun-drenched great room boasting vaulted ceilings and beautiful skylights, inside you’ll find three generously sized bedrooms, four bathrooms
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
This large estate is located on a prime cul-de-sac in Nellie Gail Ranch. The home has 5 bedrooms, 5 full baths, and 2 half baths. This elegant floor plan is over 6000 square feet, with a grand entryway and 2 story high ceilings leading to a sweeping staircase. The gourmet kitchen has granite counters, large center island,and top-of- the- line appliances. It sits adjacent to the sun room that has built-in nook seating. The family room has
This Secluded, 3 acre, 5 bedroom, Custom Estate, offers the ultimate in privacy with panoramic and sunset views along with access to the Cleveland National Forest bordering in the back of the property.. The equestrian property has a gated-security entrance and long driveway with circular turnabout leading to the main house with rock, water-slide pool, spa, BBQ, large flat grass areas and walking trail that provides access to multi-use
Entertaining french country home. Large 2.16 acre lot with outdoor room, fireplace, BBQ area, large rock pool with spa and large grass area. Custom home ready to add your upgrades, high ceilings and large rooms. Bonus room, gourmet chefs kitchen, very private end of cul de sac location. 5660 square feet with 6 bedrooms, five and 1/2 bath. Coto de Caza a Golf and Tennis and equestrian community has so much to offer, warm night's to enjoy the
One of the 12 beautiful custom homes located in the historical Hewes Park Estates Gated Community! This uber chic home is a rare offering that will never be able to be duplicated! This home, which features over 5,700 sq. ft. of refined and dramatic living space, is situated on over 22,000
sq.ft of land and is surrounded by several trees including banana, peach, grapefruit and many more. As you walk into the double entry
doors, you will notice
Beautifully Upgraded 5 BD, 3 BA Pool Home w/1 BD & 1 BA Down.Most Popular Granada Model in the Greenbrook East Tract w/Community Pool & Only 107 Homes + Steps to Ellis Park. It Features Soaring Ceilings, Recessed Lighting, Designer Paint, Mirrored Closets, Custom Double Door Entry, Dual Pane Windows/Sliders, Wood Laminate Flooring, Newer A/C, Huge Formal Living Rm with the Most Amazing Stacked Stone Fireplace you have ever seen - Nearly
In the highly-acclaimed Vista Del Mar Elementary/Middle & San Clemente High School Districts, just down the street from Tierra Grande Park, this exquisite two-story single family residence is located in the gated & luxurious Talega Vittoria neighborhood of San Clemente. The spacious 2,857 square feet of living area boasts 5 bedrooms & 3 full bathrooms on a 4,902 square feet lot. From the exterior, you’ll marvel at the beautiful
Opportunity Knocks with this 5 Bedroom Home in Amberly Lane of Oak Knoll Village! A Spacious Family Room with Gas Fireplace and Built-In Entertainment Center opens to the Kitchen with Breakfast Bar, Dining Area and Built-In Desk Office Area. Kitchen includes a 6 Burner Viking Stove and Oven, Sub-Zero Refrigerator. Pantry and Mud Room between Kitchen and Garage. Formal Dining Room with Vaulted Ceilings. Covered Courtyard just outside of Kitchen
Located in the Anacapa subdivision, this Pacific Hills pool home features a large foyer with high ceilings, a formal living room, family room with fireplace, and a dining room. The large kitchen features a center island, with custom cabinets and recessed lighting. The kitchen is open the the family room. There is a huge master suite upstairs, with its own retreat and fireplace, and huge walk-in closet. Separate indoor laundry room. Nearby
Last sale on Hyde Park was $1,174,250 same sf, no upgrades with lots of deferred maintenance. Click Virtual Tour! Welcome to Hyde Park Drive, a tranquil tree lined street located in one of North Tustin’s most desirable neighborhoods. GREAT Tustin Schools! Arroyo Elementary, Hewes Middle and Foothill High. 12,000 square foot lot with RV parking. Nearly 3,000 square feet includes 4 bedrooms, 2.5 baths, spacious, open, bright floor plan, expansive
Two Master suites. One downstairs, the second one has its' own balcony located on the second floor. Beautiful Home located in the city of Orange. Six bedrooms with five full bathrooms. The grand entry is gorgeous and shows the custom travertine floors, vaulted ceilings, granite finishes. Open floor plan with lots of natural light throughout. Very elegant formal living room with gas fireplace, large family room. The designer kitchen has beautiful
This is a beautiful home in a gated community. Home comes with a boat and and boat doc. Would be a great home or project for an EB5 investor or professional investor who can accommodate the specific needs and issues with this property. Mold repair, upgrades, other repairs and settlement of multiple liens and judgments needed. Please email for further details.
Welcome to 3125 S. Deegan Drive. Located In The Desirable South Coast Metro Neighborhood. This 4 Bedroom And 2.5 Bath Home Welcomes you with High Ceilings, And Sun Filled Rooms. This Home Has A Great Lay Out, The Downstairs includes Living Room w/ Fireplace Large Kitchen Overlooking The Backyard, Opening To The Formal Dining Room and Family Room. The Convenient Central Location Has Access To many Restaurants, Shopping And Arts. Explore South
The Short Sale Process in Orange County
The Short sale process in Orange County is very similar to other areas. It depends on the lender ( or lenders involved) but basically is made out of four steps:
1. Seller gets information and short sale package from bank, chooses a real estate agent as the listing agent, who lists the home for sale as a short sale. The short sale package usually consist of:
Letter of authorization, which lets your agent speak to the bank.
HUD-1 or preliminary net sheet
Completed financial statement
Seller's hardship letter ( very important, reason for short selling)
2 years of tax returns
2 years of W-2s
Recent payroll stubs
Last 2 months of bank statements
Comparative market analysis or list of recent comparable sales
2. Seller finds buyers, chooses an offer to submit to lender as part of the short sale package. When submitting an offer, the listing agent will need the following:
Executed purchase offer
Buyer's pre-approval letter and copy of earnest moneycheck
Seller's short sale package
3. Now this is the tedious part. The lender will acknowledge receipt and assign a negotiator, order a BPO ( Broker Price Opinion), sent for review and then approve the short sale and submit a short sale approval letter. This part takes the longest, averaging 120 days.
Many buyers will get frustrated waiting and in many cases the original buyer will back out and a new buyer will come in. Agents have some idea of when approval will come in by knowing when the file is sent for review. Its crucial that the listing agent keeps in touch with the bank to avoid any delays, and when the file is sent for review, the buyers may want to start the loan process so they've got a head start in case the bank wants 15 days to close, that can also happen.
So for many sellers selling a short sale, a buyer who's willing to stick for the long process, and who's willing to deal with the lenders requests or modifications to the purchase offer is the best buyer that they can get, which defeats the 'all cash offers' or highest offers.
Our agents in Orange County at OCDreamhomes are experienced short sale agents on both sides of the transaction: they have closed multiple homes representing a short sale seller or a short sale buyer. We are here to help, so please contact us.
Based on information from California Regional Multiple Listing Service, Inc. as of January 27th, 2020 at 1:26am PST. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.