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
500 Properties Found. Showing Page 1 of 32
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Pelican Hill Estate. Boasting Approximately 750...

$5,300,000
Newport Coast, CA
6 br, 8 ba, 7,436 ft² Residential
Price:
$5,300,000
City:
Newport Coast
Beds:
6
Baths:
8
Type:
Residential
MLS® #:
NP13106057

Pelican Hill Estate. Boasting Approximately 7500 Sq Ft. Cul-de-sac Location With A Peek-a-boo Oce...

Photo of Listing #NP13106057

Located In The Inclusive Guard Gated Community ...

$4,500,000
Irvine, CA
4 br, 6 ba, 6,930 ft² Residential
Price:
$4,500,000
City:
Irvine
Beds:
4
Baths:
6
Type:
Residential
MLS® #:
NP13145636

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

Photo of Listing #NP13145636

Searching For A Place To Build The House Of You...

$3,000,000
North Tustin, CA
3 br, 1 ba, 2,500 ft² Residential
Price:
$3,000,000
City:
North Tustin
Beds:
3
Baths:
1
Type:
Residential
MLS® #:
PW14049424

Searching For A Place To Build The House Of Your Dreams? Just Looking For Something In A Country ...

Photo of Listing #PW14049424

Home Is In Need Of Tlc. Approx. 7,000 Sq Ft ...

$2,750,000
Coto De Caza, CA
7 br, 8 ba, 8,000 ft² Residential
Price:
$2,750,000
City:
Coto De Caza
Beds:
7
Baths:
8
Type:
Residential
MLS® #:
OC13159071

Home Is In Need Of Tlc. Approx. 7,000 Sq Ft Offers 7 Bedroom, & 7.5 Bath, Plus Private Office,...

Photo of Listing #OC13159071

Highly Desirable Plan 3 Colonial Estate Set Bea...

$2,695,000
Coto De Caza, CA
6 br, 7 ba, 6,008 ft² Residential
Price:
$2,695,000
City:
Coto De Caza
Beds:
6
Baths:
7
Type:
Residential
MLS® #:
OC14066294

Highly Desirable Plan 3 Colonial Estate Set Beautifully On Over 2 Acres Of Prime Land. End Of Cul...

Photo of Listing #OC14066294

5 Bedroom Residential Property in Corona Del Mar, CA

$2,399,000
Corona Del Mar, CA
5 br, 3 ba, 3,200 ft² Residential
Price:
$2,399,000
City:
Corona Del Mar
Beds:
5
Baths:
3
Type:
Residential
MLS® #:
NP13180351

Photo of Listing #NP13180351

Complete Remodel In Aprox 2007.rustic Italian D...

$2,199,000
Dana Point, CA
5 br, 5 ba, 4,391 ft² Residential
Price:
$2,199,000
City:
Dana Point
Beds:
5
Baths:
5
Type:
Residential
MLS® #:
OC13243100

Complete Remodel In Aprox 2007.rustic Italian Design With Over 4,300 Sq.ft.this One Of A Kind Vil...

Photo of Listing #OC13243100

Beautiful Balboa Plan 4 In Guard Gated Communit...

$1,899,000
Newport Beach, CA
4 br, 4 ba, 3,100 ft² Residential
Price:
$1,899,000
City:
Newport Beach
Beds:
4
Baths:
4
Type:
Residential
MLS® #:
NP14024194

Beautiful Balboa Plan 4 In Guard Gated Community Of One Ford Road. Remodeled Kitchen With Marble ...

Photo of Listing #NP14024194

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

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

Commanding Views Of The Foothills, City Lights ...

$1,795,000
Orange, CA
4 br, 3 ba, 3,350 ft² Residential
Price:
$1,795,000
City:
Orange
Beds:
4
Baths:
3
Type:
Residential
MLS® #:
PW13197101

Commanding Views Of The Foothills, City Lights And Fabulous Orange Park Acres Surround This Metic...

Photo of Listing #PW13197101

Early California Spanish Estate Situated In A H...

$1,725,000
Tustin, CA
5 br, 5 ba, 4,458 ft² Residential
Price:
$1,725,000
City:
Tustin
Beds:
5
Baths:
5
Type:
Residential
MLS® #:
13674639

Early California Spanish Estate Situated In A Highly Desirable 24-hour Gate-guarded Enclave With ...

Photo of Listing #13674639

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...

$1,580,000
San Clemente, CA
5 br, 6 ba, 4,988 ft² Residential
Price:
$1,580,000
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

Unbelievable Home With Spectacular Panoramic Vi...

$1,549,000
Laguna Niguel, CA
4 br, 5 ba, 4,391 ft² Residential
Price:
$1,549,000
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

Sophisticated, Updated And Expanded Plan 2 In S...

$1,485,000
Newport Coast, CA
4 br, 4 ba, 2,500 ft² Residential
Price:
$1,485,000
City:
Newport Coast
Beds:
4
Baths:
4
Type:
Residential
MLS® #:
LG14071719

Sophisticated, Updated And Expanded Plan 2 In St Michel. Gorgeous En-suite Bedroom Addition Make...

Photo of Listing #LG14071719

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.

 

The information being provided by CARETS (CLAW, CRISNet MLS, DAMLS, CRMLS, i-Tech MLS, and/or VCRDS) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing.

Any information relating to a property referenced on this web site comes from the Internet Data Exchange (IDX) program of CARETS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site.

The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CARETS, CLAW, CRISNet MLS, DAMLS, CRMLS, i-Tech MLS and/or VCRDS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.

CARETS, California Real Estate Technology Services, is a consolidated MLS property listing data feed comprised of CLAW (Combined LA/Westside MLS), CRISNet MLS (Southland Regional AOR), DAMLS (Desert Area MLS), CRMLS (California Regional MLS), i-Tech MLS (Glendale AOR/Pasadena Foothills AOR) and VCRDS (Ventura County Regional Data Share).

Last updated on April 23rd, 2014 at 5:17pm PDT