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California Foreclosure

California Foreclosure and the Auction Process

Below are the basic legal guidelines for a California Foreclosure and the ensuing auction process:

2924f.
(a) As used in this section and Sections 2924g and 2924h, “property” means real property or a leasehold estate therein, and “calendar week” means Monday through Saturday, inclusive.

(b)

(1) Except as provided in subdivision (c), before any sale of property can be made under the power of sale contained in any deed of trust or mortgage, or any resale resulting from a rescission for a failure of consideration pursuant to subdivision (c) of Section 2924h, notice of the sale thereof shall be given by posting a written notice of the time of sale and of the street address and the specific place at the street address where the sale will be held, and describing the property to be sold, at least 20 days before the date of sale in one public place in the city where the property is to be sold, if the property is to be sold in a city, or, if not, then in one public place in the judicial district in which the property is to be sold, and publishing a copy once a week for three consecutive calendar weeks, the first publication to be at least 20 days before the date of sale, in a newspaper of general circulation published in the city in which the property or some part thereof is situated, if any part thereof is situated in a city, if not, then in a newspaper of general circulation published in the judicial district in which the property or some part thereof is situated, or in case no newspaper of general circulation is published in the city or judicial district, as the case may be, in a newspaper of general circulation published in the county in which the property or some part thereof is situated, or in case no newspaper of general circulation is published in the city or judicial district or county, as the case may be, in a newspaper of general circulation published in the county in this state that (A) is contiguous to the county in which the property or some part thereof is situated and

(B) has, by comparison with all similarly contiguous counties, the highest population based upon total county population as determined by the most recent federal decennial census published by the Bureau of the Census. A copy of the notice of sale shall also be posted in a conspicuous place on the property to be sold at least 20 days before the date of sale, where possible and where not restricted for any reason. If the property is a single-family residence the posting shall be on a door of the residence, but, if not possible or restricted, then the notice shall be posted in a conspicuous place on the property; however, if access is denied because a common entrance to the property is restricted by a guard gate or similar impediment, the property may be posted at that guard gate or similar impediment to any development community. Additionally, the notice of sale shall conform to the minimum requirements of Section 6043 of the Government Code and be recorded with the county recorder of the county in which the property or some part thereof is situated at least 14 days prior to the date of sale. The notice of sale shall contain the name, street address in this state, which may reflect an agent of the trustee, and either a toll-free telephone number or telephone number in this state of the trustee, and the name of the original trustor, and also shall contain the statement required by paragraph (3) of subdivision (c). In addition to any other description of the property, the notice shall describe the property by giving its street address, if any, or other common designation, if any, and a county assessor’s parcel number; but if the property has no street address or other common designation, the notice shall contain a legal description of the property, the name and address of the beneficiary at whose request the sale is to be conducted, and a statement that directions may be obtained pursuant to a written request submitted to the beneficiary within 10 days from the first publication of the notice. Directions shall be deemed reasonably sufficient to locate the property if information as to the location of the property is given by reference to the direction and approximate distance from the nearest crossroads, frontage road, or access road. If a legal description or a county assessor’s parcel number and either a street address or another common designation of the property is given, the validity of the notice and the validity of the sale shall not be affected by the fact that the street address, other common designation, name and address of the beneficiary, or the directions obtained therefrom are erroneous or that the street address, other common designation, name and address of the beneficiary, or directions obtained therefrom are omitted. The term “newspaper of general circulation,” as used in this section, has the same meaning as defined in Article 1 (commencing with Section 6000) of Chapter 1 of Division 7 of Title 1 of the Government Code.

The notice of sale shall contain a statement of the total amount of the unpaid balance of the obligation secured by the property to be sold and reasonably estimated costs, expenses, advances at the time of the initial publication of the notice of sale, and, if republished pursuant to a cancellation of a cash equivalent pursuant to subdivision (d) of Section 2924h, a reference of that fact; provided, that the trustee shall incur no liability for any good faith error in stating the proper amount, including any amount provided in good faith by or on behalf of the beneficiary. An inaccurate statement of this amount shall not affect the validity of any sale to a bona fide purchaser for value, nor shall the failure to post the notice of sale on a door as provided by this subdivision affect the validity of any sale to a bona fide purchaser for value.

You can search below for distressed properties in San Diego (an outlying areas).

79638 Dandelion Drive La Quinta, CA 92253

$230,000
3 Beds
2 Baths
2,100 SqFt
Status Pending
MLS # 41458368
Property Type Single Family Residence
Price Type --
Great Family Home in Nice Neighborhood, Open Front Room with Fire Place, Oak Kitchen Cabinetry with Front Nook with Views. Fireplace in Master Bedroom. Aluma wood patio cover. Near to La Quinta schools. This is a short sale and will sell fast. Sold as is. Buyer to verify all information. First and second, first is approved at this price. Bank will not pay anything.

19 Chandra Lane Rancho Mirage, CA 92270

$175,000
3 Beds
-- Bath
2,196 SqFt
Status Pending
MLS # 41461660
Property Type Single Family Residence
Price Type --
Short sale. Needs lots of work.

32135 Desert Vista Road Cathedral City, CA 92234

$144,000
4 Beds
2 Baths
1,632 SqFt
Status Pending
MLS # 41461416
Property Type Single Family Residence
Price Type --
Short Sale approved Price! Rio Vista. Cash Only!

Milpitas CA 95035

$450,000
3 Beds
2 Baths
1,240 SqFt
Status Pending
MLS # ML81304283
Property Type Single Family Residence
Price Type --
Short sale. making offer subject to interior inspection

Milpitas CA 95035

$660,000
4 Beds
4 Baths
2,524 SqFt
Status Pending
MLS # ML81323296
Property Type Single Family Residence
Price Type --
Short Sale Tri-level home in a gated community. Amenities are granite kitchen countertops, cabinets, and hardwood flooring. Master suite may need new carpet.

739 E Rowland Street Covina, CA 91723

$540,000
3 Beds
2 Baths
1,790 SqFt
Status Active Under Contract
MLS # 14765527
Property Type Single Family Residence
Price Type --
APPROVED SHORT SALE!! One lender only. There is an swimming pool. Please send your offers for your buyers. Thanks you for showing.

Salinas CA 93905

$148,999
3 Beds
2 Baths
1,300 SqFt
Status Active Under Contract
MLS # ML81438218
Property Type Single Family Residence
Price Type --
SHORT SALE, BUYER TO VEFIFY ALL INFORMATION, GREAT FOR INVESTORS AND RENTAL PROPERTY WITH BUILT-IN TENANTS. AS-IS, LOTS OF POTENTIALS, NEEDS SOME WORK.

Outside Area (inside Ca) CA 93933

$508,999
4 Beds
3 Baths
2,129 SqFt
Status Pending
MLS # ML81438217
Property Type Single Family Residence
Price Type --
THIS IS A SHORT SALE, SOME TLC AT THE BACKYARD AND FRONT YARD BUT GENERALLY, A READY TO MOVE IN PROPERTY, BEAUTIFUL NEIGHBORHOOD

Porterville CA 93257

$92,000
2 Beds
1 Bath
1,342 SqFt
Status Active Under Contract
MLS # ML81438801
Property Type Single Family Residence
Price Type --
Short Sale 2 bed 1 bath

Outside Area (inside Ca) CA 93923

$700,000
4 Beds
3 Baths
2,232 SqFt
Status Pending
MLS # ML81452215
Property Type Single Family Residence
Price Type --
This Single Family Residence property is a Very Large home that sits on A Reasonably sized lot. This may be an opportunity that may possibly be within your grasp! This property situated at 24695 Handley Dr is located in the city of Carmel. within the great state of CA. According to tax records this property was built in 1965, offering 4 beds, 3 bath, with 2232 square feet. This is a bank owned property to be sold as-is. Buyer and agent to verify all.

1446 Caminito Sardinia Chula Vista, CA 91915

$420,000
3 Beds
2.5 Baths
1,810 SqFt
Status Pending
MLS # 160026112
Property Type Single Family Residence
Price Type --
BOM!!! Short Sale Priced to sell at $390k-$420k a must see. This charming home has it all from ceramic tile, dark cabinets, stainless steel appliances, upgraded carpet. The house has 3 bedrooms plus a spacious loft, 2 1/2 bathrooms, 2 car garage, small private court yard. Conveniently situated across the Otay Ranch Mall, Walmart, supermarket, restaurants, and Starbucks; there is no need to drive very far! This is a Short Sale and all terms (including purchase price) are subject to lender's approval.. Neighborhoods: The Summit @ EastLake Equipment: Fire Sprinklers,Garage Door Opener, Range/Oven Other Fees: 0 Sewer: Sewer Connected Topography: LL

30624 Janlor Drive Agoura Hills, CA 91301

$525,000
3 Beds
2 Baths
1,708 SqFt
Status Active Under Contract
MLS # 216006984
Property Type --
Price Type --
Cash offers only for a quick sale. Need offer immediately for this short sale. House needs new kitchen, new bathrooms, air conditioning. Pool filter does not work. Jacuzzi is also not operational. Great opportunity for a contractor. 3 bedrooms, 2 bath, on cul-de-sac street. Home backs to shopping center on Thousand Oaks Blvd.