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.
THIS GORGEOUS SANTA BARBARA CUSTOM ESTATE FEATURES 9 BEDROOMS SUITES AND 11 BATH ROOMS, GARAGING DOWNSTAIRS AND 9 CARS IT HAS IT OWN KITCHENS ALSO , IT HAS A POOL AND SPA WITH MULTIPLE WATER DISPLAYS, THREE FULL KITCHENS, STATE OF THE ART THEATER WITH SURROUND SOUND , CLIMATE CONTROL WINE ROOM , PROFESSIONAL ELEVATOR SERVICING ALL THREE FLOORS, ENTERTAINING GAME ROOM FEATURING KITCHEN , BAR, POOL TABLE, KARAOKE STAGE, POKER ROOM , FOOSBALL
Beautiful 2-Story Home in Prestigious Cliff Haven enclave of Newport Heights. Completely remodeled in 2004, this home offers 6 Bedroom / 7 Bathrooms & 6,850 square feet of living space (per owner/builder). Backyard w/ pool & spa. Short sale subject to lender approval. Property is being sold AS-IS.
Prestigious gated community in ' THE BLUFFS'. OWNERS SPENT TON OF MONEY FOR THE UPGRADE THROUGHOUT. MOST DESIRABLE CRAFTSMAN PLAN 2. IT HAS A OPEN ENTRANCE TO GRAND FOYER DOME CEILING WITH THE HUGE EUROPEAN CHANDELIER, CLASSIC SHORT SALE - MABLE FLOOR THROUGHOUT, TWO STORY SOARING CEILING & 8' OF CROWN MOLDING EVERYWHERE....CENTRAL HEAT/AIR, CENTRAL VACUUM. LARGE GOURMET ISLAND KITCHEN WITH GRANITE COUNTER TOP,UPGRADED MAPLE
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
THE PRESTIGIOUS QUIET AND EXQUISITE COMMUNITY OF THE HUNT CLUB IS CALLING! TUTOR-STYLE THROUGH AND THROUGH THIS LARGE EXPANSIVE HOME WITH GORGEOUS VIEWS AND POOL WITH SPA IS AWAITING YOUR RECEPTION. ENTRY THROUGH THE GRAND FOYER LEADS YOU TO A OFFICE LIBRARY, ELEGANT DINING AND LIVING ROOM. ONE DOWNSTAIRS BEDROOM WITH GOURMET KITCHEN, BREAKFAST NOOK, AND FAMILY ROOM. ASCEND UP THE GRAND STAIRCASE TO MULTIPLE BEDROOMS AND BATHS. THROUGH THE
Absolutely gorgeous, plan 1 Juliet balcony located in wonderful community of Woodbury with 5 bedroom, 5 1/2 bath, bonus room and an office. Upgrades pristine hardwood floors, incredible gourmet kitchen features huge island counter, upgraded kitchen cabinets w/ Viking SS appliances, plantation window shutters, wains molding, upgraded bathroom, large open kitchen, giant family room, one main floor bedroom and four upstairs bedroom have their own
Huge opportunity!!! Needs TLC. It is newer Custom Gated Estate with Stunning Views and a Guest House.
Call For More Information. Buyer to verify structural integrity as there is significant cracking noted at property.
Located in the Irvine Unified School District. Gorgeous, highly upgraded, open floor plan consisting of 5 spacious bedrooms plus a huge loft (1 bedroom & bath downstairs), safe for the kids and private Cul-De-Sac location home. Enjoy warm family dinners in the formal dining room. Gourmet kitchen including a walk in pantry and a butler's pantry. Complete with His and Her's Walk in closets. Entertainer's dream with a HUGE backyard! Granite
This is the home that you've been waiting for. Absolutely Stunning California Craftsman in Rossmoor. Completly Rebuilt in 2006. Gorgeous Living Room w/ fireplace, Large. Beautiful Formal Dining Room. Stunning Gourmet Kitchen with Island Opens to Family Room and cozy fireplace. Large Master Bedroom with Private Bath with Large Shower, Jacuzzi Tub, and walk-in closet. Inside Laundry Rm with lots of Cabinets, 2 Hall Closets, Beautiful Front Porch.
Amazing opportunity to own a piece of heaven in the heart of Yorba Linda. This home features 4 bedrooms and 3 baths, has over 2700 sq ft of living space and sits on a lot over 40,000 sq ft. There is also a guest home that is over 900 sq ft. The value here is in the land. You can build your dream home and we have the plans and designs created for you. The home/lot is situated in a quiet, peaceful area right next to award winning schools and
Beautiful home in the highly desirable area of Irvine! Nestled in a quiet community with NO HOA! I repeat NO HOA fees! This home is mins from shopping, freeways and the Oak Creek Golf Club. And it is literally 3 houses down from Carrotwood Park! As for the home itself, you walk in to a huge open space with a vaulted ceiling in the living room which includes a skylight! The family room is right next to it split by a quaint double ended fireplace.
Major fixer home and all major systems need to be replaced including heat, air, roof, windows, flooring and more. The pool is cracked and pool equipment need to be replaced. This home in present condition will not qualify for a conventional loan. Upper level of this amazing lot consists of the home with three car garage, pool, patio and huge RV area. The lower level has 3 stalls, horse arena and rear access for vehicles and access to horse
Short Sale Opportunity to buy in highly sought after "Serrano Heights" Neighborhood! Entertainer's dream home floorplan! Located on a quiet cul-de-sac street, this 5 Bedroom /4 Bathroom home sits on a large 7673 SF lot with 3885 SF of living space. Dramatic archway entrance leads you through double doors unveiling the formal entry with a grand curved staircase and cathedral ceilings. Some of the home amenities include gorgeous
Beautiful family home located on a cul de sac street and is the largest model in the Highlands tract. Formal living room with a beautiful dramatic fireplace, formal dining room off the L.R., huge chefs kitchen w/massive kitchen island, family room w/fireplace along with a cozy breakfast nook and access to the rear yard. A total of 6 bedrooms & 4 bathrooms with 2 bedrooms down (1 en-suite) and 4 bedrooms up. 1 downstairs bedroom currently
Super Opportunity 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. Relaxing Fenced Backyard with Covered Patio. Pantry and Mud Room between Kitchen and Garage. Formal Dining Room with Vaulted Ceilings.
We were ready to close escrow, but previous buyer backed out. HIS LOSS IS YOUR BUYER'S GAIN!. Property is located at Center Cul De Sac in wonderful Niguel Summit. This Property has 4 bedrooms and three bathrooms ( a bedroom downstairs) and wet bar. House has Open floor plan with high ceiling,hardwood floor and marble floor with kitchen open to family room. Property has two fireplaces (one in family room and the other in master bedroom). Huge
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 July 20th, 2018 at 9:27am 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.