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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).

102 Park Blvd El Cajon, CA 92021

$597,000
3 Beds
2 Baths
1,393 SqFt
Status Pending
MLS # 200000348
Property Type Single Family Residence
Price Type --
Beautiful 3 bedroom 2 bath home on a super nice corner lot with lots of upgrades. Laminate flooring & carpet throughout & dual pane windows. Includes granite counter tops, upgraded kitchen cabinetry and recessed lighting . Wonderful lot with plenty of room for the kids, pets and even your toys. Detached two car garage with epoxy flooring and lots of extra room for storage. Directly across the street from Nancy Jane Country Park in Crest, a huge bonus for this area. The Solar System is leased and will be transferred to the new owners. The first escrow since going back on the market ( previous Short Sale & then COVID hit ) was cancelled due to no fault of the sellers, buyers simply changed their minds. The second escrow was cancelled due to the fact the buyers & sellers could not come to an agreement with regards to the payoff of the Solar System. Sewer: Septic Installed Topography: LL Guest House Est. SQFT: 0

5577 Barnard Street Simi Valley, CA 93063

$649,000
4 Beds
2.5 Baths
1,860 SqFt
Status Pending
MLS # OC20055287
Property Type Single Family Residence
Price Type --
Approved Short Sale - Best Value in Simi Valley. 4 Bedroom, 2.5 Baths. House is suffering from some differed maintenance. Amazing location, very private setting. House is set up for Pigeon Racing. Pool & BBQ in Back Yard. 3 Car Garage, Close to Freeway, Schools, Shopping, Dining, and Entertainment. Ready for you to make it your own.

39819 Chambray Dr Murrieta, CA 92563

$399,000
3 Beds
2.5 Baths
1,773 SqFt
Status Active Under Contract
MLS # 200002849
Property Type Single Family Residence
Price Type --
3 bed / 2.5 bath home in the gated community of Old School House in Murrietta! Short sale approved! Equipment: Range/Oven Sewer: Sewer Connected Topography: LL

5460 White Oak Avenue Unit C339 Encino, CA 91316

$239,900
1 Bed
1.5 Baths
712 SqFt
Status Pending
MLS # SR20015087
Property Type Condominium
Price Type --
LIST/SALES PRICE IS SUBJECT TO SHORT SALE LENDER APPROVAL. Encino Oaks, Do you want to be close to Ventura Blvd.?, 101 freeway, walk to Trader Joes?....you can when you live in this fantastic TOP FLOOR, END UNIT with view of 101 freeway and city lights! You will always know how traffic is flowing from your condo's view! 1 bedroom loft condo with 1.5 baths! Soaring wood beamed ceilings, open floor plan concept! Enjoy a beverage from your own private balcony! Gated secure building with 2 car tandem subterranean parking. Take a dip in the pool & meet your neighbors while soaking up the sun. Property is sold AS-IS! Inspections are for buyer information only. If any repairs are required for buyer loan, buyer to be responsible for any lender required repairs.

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.

17707 Morocco Court Riverside, CA 92504

$870,000
5 Beds
6 Baths
5,426 SqFt
Status Pending
MLS # EV20025392
Property Type Single Family Residence
Price Type --
NO MORE SHOWINGS. WE WILL BE REVIEWING OFFERS 05/06/21...INVESTORS DREAM...*******SHORT SALE******THIS PROPERTY WON'T LAST. NESTLED ON JUST UNDER AN ACRE WITH AN AMAZING FRONT VIEW. THIS 5 BEDROOM, 5(1/2) UPGRADED BATHROOM HOME WITH A MEDIA ROOM AND OFFICE IS TO DIE FOR. HOME IS UPGRADED WTIH DARK HARDWOOD FLOORS THROUGHOUT THE BOTTOM FLOOR, UPGRADED KITCHEN WITH EXTENDED ISLAND WITH GRANITE COUNTERTOPS AND OVER 80 UPGRADED CABINETS AND DRAWERS IN KITCHEN AREA. PROPERTY IS SOLD AS IS BUYERS WILL NEED TO DO OWN OUTSIDE LANDSCAPING.

511 Juanita Street La Habra, CA 90631

$560,000
3 Beds
2 Baths
1,292 SqFt
Status Pending
MLS # CV20032295
Property Type Single Family Residence
Price Type --
Back on the market and Short sale is approved... Property needs TLC

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.

1501 S Center Avenue Compton, CA 90220

$330,000
2 Beds
2 Baths
1,020 SqFt
Status Pending
MLS # AR20038968
Property Type Single Family Residence
Price Type --
Subject to Short Sale Lender's approval. Property is being sold AS IS.

23016 Pheasant Drive Canyon Lake, CA 92587

$247,000
3 Beds
2 Baths
1,592 SqFt
Status Pending
MLS # PW20042314
Property Type Single Family Residence
Price Type --
Short Sale.

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

11163 Canyon Meadows Drive Whittier, CA 90601

$550,000
4 Beds
3 Baths
3,073 SqFt
Status Pending
MLS # DW20048232
Property Type Single Family Residence
Price Type --
4 Bedroom, 3 bathroom home in Whittier. House is in need of substantial repairs and will likely not qualify for FHA or traditional financing. Short sale is subject to lien holder approval with terms and conditions.