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.
*** BANKRUPTCY COURT SALE - EQUITY SALE (SHORT SALE APPROVED) *** IN THE HEART OF NEWPORT BEACH SECONDS FROM THE HARBOR. STUNNING MEDITERRANEAN ESTATE FILLED WITH ARCHITECTURAL DESIGN. THIS 5,132 SQUARE FOOT ESTATE INCLUDES SOARING CEILINGS, OPEN FLOOR PLAN, AND GOURMET KITCHEN. CONSISTING OF 5 BEDROOMS, 6 BATHS, AND BONUS ROOM. MAIN FLOOR COURTYARD INCLUDES SPA WITH SHEER DECENT WATERFALLS, OUTDOOR KITCHEN, AND FIRE PIT. COME AND ENJOY
WOW – Amazing GOLF COURSE VIEW home featuring 5 large Bedrooms plus an office (which could be a 6th bedroom) and 3 Baths. Single loaded and cul-de-sac location with no one in front or behind creates privacy. You can tell right away from the gated courtyard entry to the huge volume ceilings, wrought iron staircase, crown molding, hard wood floors, plantation shutters and more that this is a great home and a great location in the Classics at Coto
Ocean so close you can see it. This 3 Bedroom property has one bedroom down and one bedroom up each with their own bath. The upstairs sweeping Master suite has a walk in closet and an office with some ocean view. Third bedroom upstairs also has an ocean view. All 3 baths have been remodeled. Kitchen features marble counters, newer electric oven and range and a breakfast nook. Beautiful open floor plan gives this home an airy feel. Living room
Your family will love this spacious, remodeled two-story beauty, in the desirable State Streets area of Mesa Verde. This home was significantly rebuilt ten years ago, to approximately double its original size. The roomy, open kitchen is an entertaining cook's dream, with a JennAir professional cooktop, dual ovens and warming drawer. The kitchen and dining room both open into a large living room, with soaring cathedral ceilings. One bedroom
Short sale approved price!THIS PROPERTY IS AN AMAZING BUY! Exclusive living at its finest. This 2 bedroom + office, 2 bathroom luxury condo offers only the finest materials with Snaider Italian cabinets, granite counters in kitchen and baths, fine stone floors, custom in lay carpet, soaring ceilings with breathtaking floor to ceiling glass to thoroughly take advantage of this 8th story city lights view with custom Lutron blinds! Enjoy the patio
This is a rare Short Sale in this area. THis one story house built in 1983 sits in Coyote Hills Estates. It has 3 Bedrooms and 2 Baths in about 6,500 squre ft lot and needs some interior and outside of work. A great opportunity for the investment. This sale is contingent upon all lenders/lien holders approval.
Great place to live in this large 3 beds, 3 bath, 1799 square foot town home. Open floor plan with formal living room, fireplace and sliding
doors leading to the front patio. Kitchen features Corian counter-tops with ample storage and inside laundry. Upstairs come with one huge
master bedroom and two spacious bedrooms. Two full upstairs bathroom, half bathroom on the main floor, two car garage, large enclosed
backyard and patio area.
Short sale approval required. Beautiful Cottage Tudor home in private, gated Vista Nohl community of only 25 homes. Nestled between the Olive Hill Reservoir, Tennis Courts and Dog Park. Large, usable living spaces and bedrooms. Solid oak double door entry leads into an elegant formal living room with vaulted ceilings, gas fireplace and secluded wooded views. The open space behind the home gives a "living in the country" vibe. Dining
SUBJECT TO CANCELLATION OF EXISTING CONTRACT. Charming and well-loved home on a raised foundation has 3 bedrooms and 1.75 baths, 2-car attached garage with automatic garage door opener, direct access and washer & dryer hookups. Ceiling fans in 3 bedrooms. The utility room with recessed lighting can be converted to a 4th bedroom. Beautiful hardwood floors in living area, hallway and utility room, ceramic tile in entry & kitchen, and
Camden Court home with Fenced PRIVATE Yard, 1,512 square ft, attached by one wall, single family home. 3 Bedrooms, 2 Full baths, plus 1/2 bath downstairs for your guests. Some repairs, and upgrades needed. Homeowner association re-roofed the complex this past year.
Rare opportunity to own a single level, end unit in the Green Valley Association in Fountain Valley. This 3 bedroom 2 bathroom condo (Bldg Sq Ft 1386 square foot; Lot Sq Ft 2,268) features a spacious outside covered patio with plenty of space for a beautiful garden. Single story floor plan with both the dining room and living room having sliding doors giving great natural lighting and fresh air for inside the home. The 2-car garage is very
This is a Short Sale and will require approval from various lien holders. Property has red tad from the city and is need of rehabilitation.
Buyer to do all due diligence and inspections prior to submitting offer. Property is being sold "as is".
Located in the private 55+ gated community of Casta Del Sol, this home features 2 roomy bedrooms and 2 baths on a corner in a Cul-De-Sac. This home is ready for you to move in and is exactly what you have been waiting for. Back on Market because buyer did not perform. Short sale is approved at list price plus Fees.
3 Bedroom, 2 Bath, 1356 sf condo. Set back away from any main streets in the Village Walk Community. Well lit, Open Floor Plan. Remodeled kitchen with granite counter tops. Large living room and formal dining area with granite counter top bar and breakfast nook. Cathedral ceilings. Loft/sitting area above living room. 2 stories with Master Bedroom/Bath on bottom level. Private patio. Direct access two car garage with laundry hook up. Close to
Ready to move in 2 bedroom 1 bath home in La Habra with laminate floor throughout, central heating and air. It has a 2 car detached garage. Nice front and back yard. Great Opportunity, perfect for a homebuyer or investor. Must see to appreciate.
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 September 30th, 2020 at 9:12pm 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.