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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).

1127 Koch Lane San Jose, CA 95125

$1,275,000
3 Beds
2.5 Baths
2,400 SqFt
Status Pending
MLS # ML81780123
Property Type Single Family Residence
Price Type --
Price Reduced almost $150 K ! Bank owned REO in very good condition located in prestigious Willow Glen neighborhood. Large 9,150 sq.ft. lot. Hardwood floors, tile floors. Skylights in family room make for a very light, open feel. Separate Florida room in rear. Large backyard with fruit trees. Dual pane windows. Roof appears to be metal, buyer to check. Systems of house are not warrantied, buyer to have their own inspections. Fireplace may or may not be woodburning, not tested.

Malibu CA 90265

$850,000
3 Beds
3 Baths
3,146 SqFt
Status Active Under Contract
MLS # 20554578
Property Type Condominium
Price Type --
Short sale subject to lender approval. Fixer - needs a lot of work. As is.

3281 Reche Rd Fallbrook, CA 92028

$800,000
3 Beds
3 Baths
2,890 SqFt
Status Pending
MLS # 200010323
Property Type Single Family Residence
Price Type --
This property it is Short Sale all terms and condition are subject to short sale approval the house facing view from 16x8 foot window.from the living room the garage was converted in to room this house has avocado trees a,lemon trees and grapefruit t this house has fire sprinkler system ,has surround sound system.floor it bamboo wood floor and the door's made from solid wood very good quality Equipment: Fire Sprinklers,Garage Door Opener Sewer: Septic Installed Topography: ,,LL Frontage: Canyon, Open Space

2460 Helix St Spring Valley, CA 91977

$375,000
4 Beds
3 Baths
1,912 SqFt
Status Pending
MLS # 200017140
Property Type Single Family Residence
Price Type --
Short sale, property has had deferred maintenance for years. Needs plenty of work too much to list, Buyer & their agent to verify all information before the close of escrow. Sewer: Sewer Connected

19733 Sunset Topanga, CA 90290

$1,489,300
3 Beds
3 Baths
2,716 SqFt
Status Active
MLS # IV20090321
Property Type Single Family Residence
Price Type --
Have you always dreamed about having a home on a large lot, with views, out of the hustle and bustle yet not far from the beach and freeways. This executive style home nestled on approximately 1/4 acre in Topanga Canyon has it all. Relax in tranquility at home or venture out a short distance to outdoor recreational activities, an array of cuisines, shopping, and entertainment. Don’t let this rare opportunity to own a piece of paradise get away from you! All potential buyers are asked to check with city and tax records to determine actual bedroom, bathroom counts and all details. This is a REO Property.

7907 Wilbur Avenue Reseda, CA 91335

$380,000
2 Beds
1 Bath
952 SqFt
Status Pending
MLS # 20615642
Property Type Single Family Residence
Price Type --
Great opportunity for investors/buyers who are interested in purchasing fixers! Do not disturb occupants. Short sale pending lender approval. AGENTS: PLEASE READ AGENT REMARKS. Due to property condition this property will not qualify for FHA. PROPERTY NEEDS WORK!!!! HURRY!!!!!

1836 Crenshaw Boulevard Los Angeles, CA 90019

$799,000
3 Beds
1 Bath
2,252 SqFt
Status Pending
MLS # PW20214902
Property Type Single Family Residence
Price Type --
Great opportunity for savvy investors. This property is located in the Arlington Heights area in the Mid City neighborhood of Los Angeles. It is close to shopping, schools and transportation, Centrally located it is accessible to most venues in the City from Downtown LA, Hollywood, Inglewood and the beach cities. Zoned R3 and located in a Transit Priority Area( TOC Tier 3) and not a HPOZ this property is perfect to be redeveloped into a premier property with plenty of potential for you. REO property will be delivered tenant occupied in AS IS condition, No repairs, no termite report. Buyers to conduct their own due diligence. NO PROPERTY ACCESS,DO NOT DISTURB OCCUPANT, CASH OFFERS ONLY!

3364 Nolina Street Baldwin Park, CA 91706

$459,900
2 Beds
1 Bath
939 SqFt
Status Pending
MLS # RS20229294
Property Type Single Family Residence
Price Type --
BANK OWNED! Calling all investors. Two bedroom house with a huge lot that may allow you to build a larger home and/or ADU. Nicely located near freeway access and several shopping centers.

7411 Stanford Avenue Los Angeles, CA 90001

$320,000
6 Beds
2 Baths
1,314 SqFt
Status Pending
MLS # PW21037130
Property Type Single Family Residence
Price Type --
SHORT SALE Subject to lenders approval. NEEDS TLC MUST SEE.

13334 Brianhead Court Victorville, CA 92394

$399,000
5 Beds
2.5 Baths
2,270 SqFt
Status Pending
MLS # SR21076284
Property Type Single Family Residence
Price Type --
SHORT SALE!!! YOU ARE INVITED TO MAKE THIS RESIDENCE YOUR DREAM HOME. 5 Bedrooms, 3 Bathrooms on a Spacious Single Level Cul-De-Sac in Victorville. An Open Floor Plan with Carpeted Living Room, Dining Room with lots of Natural Lighting. Island Kitchen, Tiled Flooring, Fireplace, Dining Area, Ceiling Fans, In Door Laundry Area 2 Car Garage, Paid Solar. Close to all Shopping Areas and 15 Fwy.

1442 Eucalyptus Drive Highland, CA 92346

$295,000
3 Beds
1.5 Baths
1,016 SqFt
Status Pending
MLS # CV21112216
Property Type Single Family Residence
Price Type --
This property does need work and repairs. You can walk this home right from your mobile phone right now! Just click on the camera icon for a 3D virtual tour. Two rooms in the back of the home are un-permitted. This is a short sale subject to lender approval of all terms.

3637 Street San Diego, CA 92105

$500,000
2 Beds
1 Bath
1,457 SqFt
Status Pending
MLS # PTP2104606
Property Type Single Family Residence
Price Type --
Short sale fixer.