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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).

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67926 Whitney Court Desert Hot Springs, CA 92240

$135,000
3 Beds
-- Bath
1,895 SqFt
Status Active Under Contract
MLS # 41459320
Property Type Single Family Residence
This is a SHORT SALE. Beautiful home, very well take care of. Nice area. 3 bed. 2 ba. No need to preview.

50445 El Dorado Drive La Quinta, CA 92253

$1,199,000
4 Beds
4.5 Baths
4,449 SqFt
Status Active
MLS # 214012336DA
Property Type Single Family Residence
Fabulous Short Sale Opportunity! Ventana on Mountain View's premier street bordering The Polo Estates! Panoramic mountain, fairway and lake views. Entertainer's backyard with palm groves, pool, spa, waterfalls, firepit and BBQ kitchen island. The courtyard entry leads into the 18' high, skylit rotunda foyer, huge 43' Great Room, huge 35' Master, big 17' office/den/library - 4449 sf. of spacious luxury. Courtyard casita plus two guest rooms with their own sitting room (or media room or family room). Highly upgraded, this elegant home is move-in ready! Dramatic 12' soffited ceilings in the living areas, sound systems, custom european cabinets including a wine cellar center, granite counters, gourmet kitchen, elegant window treatments, Jacuzzi whirlpool tub and huge walk-in dual shower in master bath, recirculating hot water, eight-foot high patio doors, security system with smoke, fire and motion sensors. This home is truly feature rich.

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
APPROVED SHORT SALE!! One lender only. There is an swimming pool. Please send your offers for your buyers. Thanks you for showing.

81805 Villa Reale Drive Indio, CA 92203

$307,985
5 Beds
4 Baths
2,885 SqFt
Status Active
MLS # 214081912DA
Property Type Single Family Residence
Bank owned and priced to sell. This is a great buy in upscale Palazzo, a gated community with low HOA dues, and is conveniently located close to new hardware shops and grocery store and the Golf Club at Terra Lago Resort. This immaculate 5 bedroom, 4 bathroom home, including a casita, shows very well and has many custom features. The gourmet kitchen has stainless steel appliances, granite countertops and lots of cabinets. Very private backyard which is ready for you to build your own pool. Take advantage on this bank owned property that is aggressively priced.

2031 Denton Avenue Unit B San Gabriel, CA 91776

$300,000
2 Beds
2 Baths
1,128 SqFt
Status Active Under Contract
MLS # TR14189914
Property Type Condominium
Short sale subject to inspection.

627 Terrace Street Salinas, CA 93905

$148,999
3 Beds
2 Baths
1,300 SqFt
Status Active Under Contract
MLS # ML81438218
Property Type Single Family Residence
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.

1692 Beverly Street Porterville, CA 93257

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

30624 Janlor Drive Agoura Hills, CA 91301

$525,000
3 Beds
2 Baths
1,708 SqFt
Status Active Under Contract
MLS # 216006984
Property Type Stock Cooperative
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.

3769 Camino Cermenon Yorba Linda, CA 92886

$749,000
4 Beds
2.5 Baths
2,325 SqFt
Status Active Under Contract
MLS # LG16110744
Property Type Single Family Residence
SHORT SALE !! priced below comps . has good curb appeal interior needs CLEAN UP due to tenants vacating needs new carpeting nice city lights vi ew from the back yard

12635 Pedriza Road Poway, CA 92064

$600,000
4 Beds
2.5 Baths
2,663 SqFt
Status Active Under Contract
MLS # 160043755
Property Type Single Family Residence
Short Sale!!! This 4 bedroom 2.5 bathroom home is located in a quiet Cul-De-Sac.

99999 Rosarito CA 99999

$120,000
2 Beds
2 Baths
460 SqFt
Status Active
MLS # 160040236
Property Type Condominium
GREAT OPPORTUNITY BANK OWNED, REO, BEACH FRONT CONDOS IN ROSARITO, BAJA CALIFORNIA. MINUTES AWAY FROM THE SAN DIEGO, USA BORDER. Beautiful fwy sceneries to drive and enjoy. 1, 2, and Penthouse models available. All new! easy to show all. Enjoy the breathtaking 180 degree views. Newer construction. California style. Multiple amenities include: pools, tennis courts, jacuzzi, spa, lockers, showers, b-b-q and entertain your friends and family, underground parking, massage,restaurants or shops on site. Neighborhoods: Vista Del Mar Equipment: Range/Oven Other Fees: 0 Topography: LL

1104 Cedar Redlands, CA 92373

$426,000
3 Beds
2 Baths
1,781 SqFt
Status Active
MLS # CV16184562
Property Type Single Family Residence
BACK TO THE MARKET!!!! Short Sale approved, New asking price!! Curb Appeal, South Redlands Community, South Facing Victorian Style Home ready for INVESTOR or a BUYERS , who bring their Imagination and make this home a Move In Condition HOUSE. Please see the photos conditions of the house but the Hero Program change the New Roof, Coat Paint Exterior, New/Installed Wood Windows, Re framed half walls, New electrical wiring and 2 electrical panels, New waste plumbing, New copper piping all with permits. Circular driveway, Concrete porch with ceiling fans, high ceiling in living area, family room, dining room with double doors that lead to backyard, upstairs landing all bedrooms. Great Opportunity!!