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 $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
414 Properties Found. Showing Page 1 of 26
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Absolutely The Most Sought After, Superior And ...

$13,000,000
Corona Del Mar, CA
3 br, 3 ba, 2,189 ft² Residential
Price:
$13,000,000
City:
Corona Del Mar
Beds:
3
Baths:
3
Type:
Residential
MLS® #:
NP15018853

Absolutely The Most Sought After, Superior And Phenomenal Location In All Of Corona Del Mar. This...

Photo of Listing #NP15018853

A Beautiful Residence Located In Pelican Hill E...

$4,900,000
Newport Coast, CA
6 br, 8 ba, 7,436 ft² Residential
Price:
$4,900,000
City:
Newport Coast
Beds:
6
Baths:
8
Type:
Residential
MLS® #:
SR14241078

A Beautiful Residence Located In Pelican Hill Estates With A Cul-de-sac Location, Offering Both P...

Photo of Listing #SR14241078

Located In The Exclusive Guard Gated Community ...

$4,000,000
Irvine, CA
4 br, 6 ba, 6,930 ft² Residential
Price:
$4,000,000
City:
Irvine
Beds:
4
Baths:
6
Type:
Residential
MLS® #:
NP14254898

Located In The Exclusive Guard Gated Community Of Shady Canyon. Private Backyard Salt Water Pool ...

Photo of Listing #NP14254898

Prime Piece Of Real Estate! Large, Private & Ga...

$2,695,000
Coto De Caza, CA
7 br, 8 ba, 8,000 ft² Residential
Price:
$2,695,000
City:
Coto De Caza
Beds:
7
Baths:
8
Type:
Residential
MLS® #:
OC14153877

Prime Piece Of Real Estate! Large, Private & Gated Lot With Endless Potential. A Diamond In The R...

Photo of Listing #OC14153877

This Tri-level, End Lot Location, Home Of Pelic...

$2,600,000
Newport Coast, CA
6 br, 5 ba, 6,750 ft² Residential
Price:
$2,600,000
City:
Newport Coast
Beds:
6
Baths:
5
Type:
Residential
MLS® #:
OC15038864

This Tri-level, End Lot Location, Home Of Pelican Ridge Estates Is A Renovators Dream. This Prop...

Photo of Listing #OC15038864

Fantastic Ocean And Catalina Views, Beautiful C...

$2,395,000
Laguna Beach, CA
4 br, 4 ba, 3,508 ft² Residential
Price:
$2,395,000
City:
Laguna Beach
Beds:
4
Baths:
4
Type:
Residential
MLS® #:
LG14199372

Fantastic Ocean And Catalina Views, Beautiful Custom Home On Quiet Cul De Sac. Built In 2008, Sof...

Photo of Listing #LG14199372

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

Meticulously-maintained Bluffs Estate, From The...

$2,195,000
Huntington Beach, CA
4 br, 5 ba, 4,231 ft² Residential
Price:
$2,195,000
City:
Huntington Beach
Beds:
4
Baths:
5
Type:
Residential
MLS® #:
OC15033323

Meticulously-maintained Bluffs Estate, From The Italian Villa-the Med Exterior To The Highly-upgr...

Photo of Listing #OC15033323

Now Available For Purchase: The Rancho Madrina ...

$2,149,899
San Juan Capistrano, CA
5 br, 6 ba, 5,800 ft² Residential
Price:
$2,149,899
City:
San Juan Capistrano
Beds:
5
Baths:
6
Type:
Residential
MLS® #:
OC15003057

Now Available For Purchase: The Rancho Madrina "crown Jewel". Working With Almost Twice The Usab...

Photo of Listing #OC15003057

Spectacular Custom Estate At The End Of A Cul-d...

$2,100,000
Laguna Hills, CA
7 br, 8 ba, 7,233 ft² Residential
Price:
$2,100,000
City:
Laguna Hills
Beds:
7
Baths:
8
Type:
Residential
MLS® #:
OC14174472

Spectacular Custom Estate At The End Of A Cul-de-sac In Nellie Gail. Features Of This Home Includ...

Photo of Listing #OC14174472

Short-sale Approved!! Gorgeous & Spacious 2br/2...

$2,048,000
Laguna Beach, CA
2 br, 3 ba, 3,757 ft² Residential
Price:
$2,048,000
City:
Laguna Beach
Beds:
2
Baths:
3
Type:
Residential
MLS® #:
14789553

Short-sale Approved!! Gorgeous & Spacious 2br/2.5ba Home W/ Breathtaking Views Of Laguna Beach & ...

Photo of Listing #14789553

This Is A Beautiful Waterfront Home In A Prime ...

$1,891,500
Huntington Beach, CA
5 br, 5 ba, 3,990 ft² Residential
Price:
$1,891,500
City:
Huntington Beach
Beds:
5
Baths:
5
Type:
Residential
MLS® #:
CV14001621

This Is A Beautiful Waterfront Home In A Prime Location In Huntington Harbor! This Home Has 5 Spa...

Photo of Listing #CV14001621

Screaming Deal! A Beautiful Juliet's Balcony Ho...

$1,875,000
Irvine, CA
5 br, 6 ba, 4,100 ft² Residential
Price:
$1,875,000
City:
Irvine
Beds:
5
Baths:
6
Type:
Residential
MLS® #:
OC15011945

Screaming Deal! A Beautiful Juliet's Balcony Home, 4100 Square Feet, Ready To Go And Move In! 5 L...

Photo of Listing #OC15011945

Located On One Of The Most Sought Street In Nel...

$1,799,000
Laguna Hills, CA
4 br, 5 ba, 4,607 ft² Residential
Price:
$1,799,000
City:
Laguna Hills
Beds:
4
Baths:
5
Type:
Residential
MLS® #:
PW15007049

Located On One Of The Most Sought Street In Nellie Gail, This Pool Home Estate Has Dramatic Views...

Photo of Listing #PW15007049

The Crown Jewel Of The Exclusive Cobblestone Co...

$1,797,989
San Juan Capistrano, CA
5 br, 7 ba, 5,200 ft² Residential
Price:
$1,797,989
City:
San Juan Capistrano
Beds:
5
Baths:
7
Type:
Residential
MLS® #:
OC14226356

The Crown Jewel Of The Exclusive Cobblestone Collection In San Juan Capistrano, This Spectacular ...

Photo of Listing #OC14226356

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 March 5th, 2015 at 3:53pm 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.