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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).

7250 Pondera Circle West Hills, CA 91307

$875,000
5 Beds
3 Baths
2,745 SqFt
Status Pending
MLS # SR19087429
Property Type Single Family Residence
Price Type --
Must see. Short Sale.

6086 Morongo 29 Palms, CA 92277

$85,000
3 Beds
1 Bath
1,056 SqFt
Status Pending
MLS # JT19116559
Property Type Single Family Residence
Price Type --
THE PRICE IS ATTRACTIVE! THE SELLER OWES MORE THAN THE PRICE SO--IT WILL BE A SHORT SALE CONSUMING SEVERAL MONTHS TO BE COMPLETED. PROPERTY IS IN GOOD CONDITION AND INCLUDES THE KITCHEN STOVE AND REFRIGERATOR.

5549 Grand Prix Court Fontana, CA 92336

$329,500
3 Beds
2 Baths
1,326 SqFt
Status Pending
MLS # IV19169183
Property Type Single Family Residence
Price Type --
3 Bedroom 2 bath 1,326 sqft This is Short Sale subject to lender's approval. Terms, conditions and commission are subject to banks final approval.

45 Genoa Street Unit Unit A Arcadia, CA 91006

$600,000
3 Beds
3 Baths
1,720 SqFt
Status Pending
MLS # TR19197088
Property Type Townhouse
Price Type --
Short Sale Townhouse. In the heart of City of Arcadia with: Westfield Santa Anita Mall, Santa Anita Park, and many many more public amenities surrounding the area. The townhouse will be sold AS-IS condition.

2249 Serrano Road San Bernardino, CA 92405

$249,000
4 Beds
1 Bath
1,428 SqFt
Status Pending
MLS # DW19211332
Property Type Single Family Residence
Price Type --
SHORT SALE *** CASH BUYERS ***Don't miss this opportunity for a large family, 4 bedrooms, 2 bathrooms formal dining room, good size kitchen and nice size living room + 2 car garage! Ready to move in!!! Close to freeways, schools and entertainment!!

10114 S Broadway Los Angeles, CA 90003

$335,000
5 Beds
2 Baths
1,591 SqFt
Status Pending
MLS # RS19276446
Property Type Single Family Residence
Price Type --
Probate short sale. The property is being sold as-is, where is. MAJOR FIXER. Will not qualify for financing. Uncooperative tenants residing in the property do not disturb. Buyer responsible for relocation and any eviction process of current occupants. Submit offers on Probate purchase agreement. No seller repairs, termite or retrofitting.

8557 Red Hill Country Club Drive Rancho Cucamonga, CA 91730

$515,000
4 Beds
2.5 Baths
2,758 SqFt
Status Pending
MLS # 19530418
Property Type Single Family Residence
Price Type --
Short Sale. This 2 story home has valley views!!! Located in the hills of Red Hill Country Club Dr. this home will give you the space you have been looking for. Bedrooms, bathrooms and living areas are on both floors. This double lot offers many possibilities, in the spacious backyard. Home needs work but with your own personal touch, you can create the home of your dreams. Wood and laminate floors in the common areas carpet in the bedrooms. Sunken living room with fireplace, which opens up to a formal dining room. Kitchen is across from family room and around the corner from the master bedroom with an en suite bathroom. Lower level of the home features a second family room, 3 bedrooms and a bathroom. Agents see private remarks for more information on the short sale.

1553 Fairmount Pl Escondido, CA 92027

$707,000
4 Beds
3.5 Baths
3,304 SqFt
Status Pending
MLS # 190058494
Property Type Single Family Residence
Price Type --
APPROVED SHORT SALE!!. Was a model home when built. Enter through a dramatic entrance with high ceilings that extend to common areas on ground floor. Large Master suite on 1st floor. Large gourmet kitchen with island, granite countertops, large walk in pantry & stainless steel appliances adjacent to open family room. Huge formal dining or 2nd family room with beautiful built in book shelf. All bedrooms have 9' ceilings. Large 3 car garage. Great views to the south. No HOA! A landscaping opportunity!. Neighborhoods: Soleado Equipment: Dryer,Garage Door Opener, Range/Oven, Washer Other Fees: 0 Sewer: Sewer Connected Topography: LL

2 Normandy Way Rancho Mirage, CA 92270

$640,000
5 Beds
4.5 Baths
5,240 SqFt
Status Active Under Contract
MLS # 219034155DA
Property Type Single Family Residence
Price Type --
This is a short sale. HOme needs extensive work to be livable. New landscaping is needed front and back.

159 Venado Avenue Thousand Oaks, CA 91320

$660,000
3 Beds
2 Baths
1,882 SqFt
Status Pending
MLS # SR19274516
Property Type Single Family Residence
Price Type --
3 bd 2 ba one level home. Short Sale subject to lender approval.

11538 Venezia Way Porter Ranch, CA 91326

$925,000
4 Beds
3 Baths
2,655 SqFt
Status Pending
MLS # SR19276668
Property Type Single Family Residence
Price Type --
Its a 4 bed 3 bath with 2655 FT in the area called Porter Ranch. This is a very famous area and prices have gone up in the past. So this could be a great opportunity to buy when prices have lowered. Its a short sale and no repairs will be done, as house needs many repairs and the bank will not fix anything before close. Terms are subject to bank approval..

1029 Glenoak Drive Covina, CA 91724

$619,000
4 Beds
2 Baths
2,066 SqFt
Status Pending
MLS # IV19286322
Property Type Single Family Residence
Price Type --
A lovely house in the Charter Oaks neighborhood. This charming well maintained home is near the Via Verde Country Club with easy access to the 10,57 and 210 freeways. This is a Short Sale Transaction.