Orange County Short sales | Short sale Homes in OC

orange_county_short_salesOrange 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.

Orange County Shortsales

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
477 Properties Found. Showing Page 1 of 30
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A Diamond In The Rough! Total Fixer, This South...

$2,750,000
Coto De Caza, CA
7 br, 1 ba, 8,000 ft² Residential
Price:
$2,750,000
City:
Coto De Caza
Beds:
7
Baths:
1
Type:
Residential
MLS® #:
OC14153877

A Diamond In The Rough! Total Fixer, This Southern Style Plantation Estate Is In Need Of Some Maj...

Photo of Listing #OC14153877

Sought After Location!! Private Cul-de-sac And...

$2,199,000
Newport Beach, CA
4 br, 3 ba, 3,400 ft² Residential
Price:
$2,199,000
City:
Newport Beach
Beds:
4
Baths:
3
Type:
Residential
MLS® #:
NP14041785

Sought After Location!! Private Cul-de-sac And Panoramic Unobstructed Pacific Vistas, Catalina I...

Photo of Listing #NP14041785

Masterfully Designed By World-renown Architect ...

$1,999,000
Laguna Beach, CA
3 br, 4 ba, 2,500 ft² Residential
Price:
$1,999,000
City:
Laguna Beach
Beds:
3
Baths:
4
Type:
Residential
MLS® #:
LG14075812

Masterfully Designed By World-renown Architect Mark Singer Recognized For His Contemporary Design...

Photo of Listing #LG14075812

Covington Estate In Kerrigan Ranch 5,600 Sq Ft ...

$1,725,000 -
Yorba Linda, CA
5 br, 6 ba, 5,600 ft² Residential
Price:
$1,725,000 -
City:
Yorba Linda
Beds:
5
Baths:
6
Type:
Residential
MLS® #:
PW14168860

Covington Estate In Kerrigan Ranch 5,600 Sq Ft On 23,405 Sf Lot. 800k Of High Quality Upgrades In...

Photo of Listing #PW14168860

Great Location On Trinidad Island. Property Nee...

$1,850,000
Huntington Beach, CA
3 br, 4 ba, 3,055 ft² Residential
Price:
$1,850,000
City:
Huntington Beach
Beds:
3
Baths:
4
Type:
Residential
MLS® #:
OC14023994

Great Location On Trinidad Island. Property Needs Updating And Maintenance Repairs.

Photo of Listing #OC14023994

Spectacular Views From Every Room. A Truly Stun...

$1,843,000
Orange, CA
5 br, 6 ba, 6,500 ft² Residential
Price:
$1,843,000
City:
Orange
Beds:
5
Baths:
6
Type:
Residential
MLS® #:
PW14115486

Spectacular Views From Every Room. A Truly Stunning Home From The Minute You Step In. This Home I...

Photo of Listing #PW14115486

This Is Short Sale!! Beautiful Home , Gorgeousl...

$1,550,000 -
Huntington Beach, CA
3 br, 1 ba, 3,000 ft² Residential
Price:
$1,550,000 -
City:
Huntington Beach
Beds:
3
Baths:
1
Type:
Residential
MLS® #:
PW14039264

This Is Short Sale!! Beautiful Home , Gorgeously Upgraded, Large Pool And Spa. Walk To Seacliff S...

Photo of Listing #PW14039264

Amazing One Of A Kind Ocean View Residence Back...

$1,550,000
San Clemente, CA
5 br, 6 ba, 4,988 ft² Residential
Price:
$1,550,000
City:
San Clemente
Beds:
5
Baths:
6
Type:
Residential
MLS® #:
OC13218450

Amazing One Of A Kind Ocean View Residence Backing To The Talega Golf Club 16th Hole. Spectacular...

Photo of Listing #OC13218450

Incredible View Home Located In The Exclusive C...

$1,549,900
Yorba Linda, CA
5 br, 5 ba, 4,200 ft² Residential
Price:
$1,549,900
City:
Yorba Linda
Beds:
5
Baths:
5
Type:
Residential
MLS® #:
PW14179266

Incredible View Home Located In The Exclusive Community Of Mt. San Antonio In The Hills Of Yorba ...

Photo of Listing #PW14179266

This Estates Of Hidden Canyon Estate Is Nestled...

$1,500,000
Anaheim, CA
3 br, 5 ba, 4,842 ft² Residential
Price:
$1,500,000
City:
Anaheim
Beds:
3
Baths:
5
Type:
Residential
MLS® #:
CV14184325

This Estates Of Hidden Canyon Estate Is Nestled Among Multi-million Dollar Properties In One Of A...

Photo of Listing #CV14184325

This Beautiful Home Is In The Exclusive Neighbo...

$1,458,000
Seal Beach, CA
5 br, 6 ba, 4,143 ft² Residential
Price:
$1,458,000
City:
Seal Beach
Beds:
5
Baths:
6
Type:
Residential
MLS® #:
PW14176748

This Beautiful Home Is In The Exclusive Neighborhood Of Heron Pointe. Gated And Near Seal Beach ...

Photo of Listing #PW14176748

Unbelievable Home With Spectacular Panoramic Vi...

$1,430,000
Laguna Niguel, CA
4 br, 5 ba, 4,391 ft² Residential
Price:
$1,430,000
City:
Laguna Niguel
Beds:
4
Baths:
5
Type:
Residential
MLS® #:
OC14001887

Unbelievable Home With Spectacular Panoramic Views From The Front Door. Big Open Floor Plan With ...

Photo of Listing #OC14001887

Custom Home In The Private Gated Community Of ...

$1,400,000
San Juan Capistrano, CA
5 br, 4 ba, 4,350 ft² Residential
Price:
$1,400,000
City:
San Juan Capistrano
Beds:
5
Baths:
4
Type:
Residential
MLS® #:
OC13169217

Custom Home In The Private Gated Community Of Mccracken Hill . Issues With Grading, Lot Lines, ...

Photo of Listing #OC13169217

The Spanish Influenced Architecture Of This Cus...

$1,399,000
North Tustin, CA
5 br, 4 ba, 4,800 ft² Residential
Price:
$1,399,000
City:
North Tustin
Beds:
5
Baths:
4
Type:
Residential
MLS® #:
PW14089732

The Spanish Influenced Architecture Of This Custom Home In The Tustin Hills Belies The Stunning T...

Photo of Listing #PW14089732

Sleek And Sophisticated View Home In Cowan Heig...

$1,399,000
North Tustin, CA
4 br, 6 ba, 6,500 ft² Residential
Price:
$1,399,000
City:
North Tustin
Beds:
4
Baths:
6
Type:
Residential
MLS® #:
OC14112248

Sleek And Sophisticated View Home In Cowan Heights Designed With Entertaining In Mind! Walls Of ...

Photo of Listing #OC14112248

Short Sale Of A Single Level Property In The El...

$435,000
Mission Viejo, CA
4 br, 2 ba, 1,524 ft² Residential
Price:
$435,000
City:
Mission Viejo
Beds:
4
Baths:
2
Type:
Residential
MLS® #:
OC14177720

Short Sale Of A Single Level Property In The El Dorado Tract Of Mission Viejo. Property Offers ...

Photo of Listing #OC14177720

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:

  • Listing agreement
  • 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 September 1st, 2014 at 3:58pm PDT. 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.