San Clemente Bank Foreclosures (REO's)
San Clemente, with its wonderful climate and Spanish style architecture also shares the Orange County Foreclosure Market. Foreclosures in San Clemente are of every type of home: from luxury mansions, to single family homes and condos. REO ( Real Estate Owned) Homes in San Clemente can be good bargains for your family or if you are looking for an investment home. These homes are better known as bank owned homes listings, will be subject to bank approval. All offers submitted for this type of homes will have different details or specifics that need to be discussed prior to writing an offer, in which case, please contact us for information.
Looking for a foreclosed home in San Clemente to turn it into your home or an investment? Bank foreclosures, bank owned or REO's homes may be the best opportunity to purchase a home in San Clemente at a below market price. Take a look below at what is available right now as a bank owned home in San Clemente. Also, if you are interested in getting updates, we will send you an email when a new bank owned home that meets your criteria becomes available, all you have to do sign up. Read more about San Clemente Bank Foreclosures
All of these are bank owned homes currently for sale in San Clemente. We are not including the standard sale listings, which can be found in the San Clemente Homes page. Search all San Clemente REO listings or properties that are bank owned within specific price range below.
San Clemente Bank Owned Homes and Foreclosures
|All Listings||Over $1,000,000|
San Clemente Bank Owned Homes ( REO)
The terms "foreclosure," "bank-owned property" and "REO" are used in bank owned transactions these days.
Technically, a "foreclosure" is the process where the bank or lender goes through while the borrower stops making payments on the mortgage of their home. You can find a list of foreclosure homes in San Clemente, which may likely become ' REO ' or real estate owned. Basically when the home gets foreclosed, and the borrowers get evicted, the home goes to auction and the bank buys it back. The home becomes bank owned then. The list of homes provided above, are already 'owned' by the bank. Those homes already went through the foreclosure process and are ready to be sold by the bank, as they are on the market as REO's.
When Buying A San Clemente Bank Owned or Foreclosed Home remember:
- Get an understanding of what is happening with home prices in San Clemente. Not all foreclosures are a bargain and you can end in a bidding war driving up the sales price.
Buyers should conduct a home inspection even when not required.
Make sure to have a clear Title.
Do not under estimate the cost of repairs which a lot of foreclosed properties require.
Ask questions! You need to know about all relevant permits, past due association assessments or dues.
Experienced representation is very important in negotiating and buying a San Clemente bank foreclosure. Unforseen circumstances can change a good deal into a not so good deal. Due to the high demand for foreclosures and the complexity of short sales, it is extremely beneficial to have Real Estate professionals who are experienced in getting your offer through while negotiating the best possible price along with protecting your interests throughout the escrow process. We are dedicated Realtors who have years of experience in negotiating the purchase of distressed properties. Please feel free to contact us for valuable insight on how to buy a bank foreclosure and/or short sale in San Clemente.
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