Share

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).

5889 Brentwood Street Los Angeles, CA 90003

$549,000
4 Beds
2 Baths
1,959 SqFt
Status Pending
MLS # 21765700
Property Type Single Family Residence
Price Type --
Probate sale, submit offers, property will not be provided vacant. it will be up to the buyer to work with the occupants to vacate or evict. Occupant is a relative of estate. Occupant maybe open to cash for keys. Final off my make the sale a short pay on a reverse mortgage. Winning offer will get to see interior and meet with occupants. Note zoning is R4Q do your homework. Great property to rehab house and add ADU in the back... Great potential... we are working on short sale approval now...

719 Larkin Street Unit 203 San Francisco, CA 94109

$599,000
1 Bed
1 Bath
619 SqFt
Status Active Under Contract
MLS # ML81857386
Property Type Condominium
Price Type --
Huge Price reduction! Original Price was $685,000. Now is $599,000. 1 bedroom, 1 bath, flat unit on 2nd floor, open floor plan with lots of natural light, quartz kitchen counter top. Hardwood floor in living room, kitchen and bedroom. Tiles floor in bathroom. Tile shower wall. Latch smart access system, rooftop retreat with city views, storage space and secure bike parking. Food and drinks are surrounding and walking distance from the unit. This is Short Sale and subject to Lender's approval.

681 E 70th Street Long Beach, CA 90805

$650,000
2 Beds
2.5 Baths
1,609 SqFt
Status Pending
MLS # SB21174124
Property Type Single Family Residence
Price Type --
SHORT SALE LISTING CONTINGENT TO LENDERS APPROVAL. Located on a Corner lot 2 Bedroom & 2 baths with a Den. Double car garage and a Storage. Perfect for a big Family. This property has a lot to offer, it is great for first time buyers. Presently this property is in Default. Agents call for private showing. Do not go direct please contact our office for appointment.

1491 Carmen Court San Jose, CA 95121

$799,000
4 Beds
2.5 Baths
1,474 SqFt
Status Active
MLS # ML81859447
Property Type Townhouse
Price Type --
From Short sale to regular sale! Very rare 4 bedroom PUD with big living sq ft property size located in a quiet neighborhood with 4 bedrooms 2.5 bath. Please do not disturb occupants.

2144 Beech Knoll Road Los Angeles, CA 90046

$1,390,000
2 Beds
3 Baths
1,884 SqFt
Status Active
MLS # 21784642
Property Type Single Family Residence
Price Type --
Enjoy life in the hills with endless views! Do not miss the opportunity to live in one of LA's most coveted neighborhoods. 3 balcony levels provide gorgeous vantage points from the canyon to the mountains with the city in between! 15 minute drive to West Hollywood, Rodeo Drive, and all Sunset has to offer! Interior condition is unknown, home is occupied so buyers must be willing/able to close while occupied and without interior inspection, including no appraisal access. Bring your ideal design and lifestyle to this unbeatable location.This property is owned by Southside Neighborhood Stabilization and was purchased at foreclosure post auction bid pursuant to SB 1079. SB 1079 was put in place to promote homeownership and therefore priority for offers are given to owner occupant buyers. Buyers must provide a notarized affidavit that the agent will supply that states they intend to live in the property. Secondary priority will be given to investors who sign an affidavit stating they plan to rehab and sell the property to an owner occupant. Third priority is to investors who sign an affidavit stating they intend to rehab the property and provide affordable housing. All buyers required to prequalify through sellers preferred lender.

192 Valley Road Oak View, CA 93022

$729,000
3 Beds
2 Baths
1,320 SqFt
Status Active
MLS # 21784592
Property Type Single Family Residence
Price Type --
Tucked home surrounded by trees minutes from Lake Casita and Ojai wine valley! Across the street from the Oak View Park and the local elementary school. Enjoy your privacy on this large corner lot. Interior condition is unknown, home is occupied so buyers must be willing/able to close while occupied and without interior inspection or appraisal access. Do not miss this opportunity for a great deal! This property is owned by Southside Neighborhood Stabilization and was purchased at foreclosure post auction bid pursuant to SB 1079. SB 1079 was put in place to promote homeownership and therefore priority for offers are given to owner occupant buyers. Buyers must provide a notarized affidavit that the agent will supply that states they intend to live in the property. Secondary priority will be given to investors who sign an affidavit stating they plan to rehab and sell the property to an owner occupant. Third priority is to investors who sign an affidavit stating they intend to rehab the property and provide affordable housing. All buyers required to prequalify through sellers preferred lender.

13125 Don Julian Road La Puente, CA 91746

$300,000
3 Beds
2 Baths
1,050 SqFt
Status Pending
MLS # CV21216037
Property Type Single Family Residence
Price Type --
This is a short sale with no bank approval.

625 E 79th Street Los Angeles, CA 90001

$225,000
5 Beds
2 Baths
1,838 SqFt
Status Active Under Contract
MLS # IV21225128
Property Type Single Family Residence
Price Type --
Property Sold As Is, 4 bedroom 1 1/2 baths... Agent to due their diligence. Priced dramatically reduced due to significant damage to the property. Short sale subject to lender approval..

21531 Darrow Drive California City, CA 93505

$245,000
4 Beds
2 Baths
1,917 SqFt
Status Pending
MLS # 21794086
Property Type Single Family Residence
Price Type --
Short sale, All terms and conditions subject to lender approval. 4 Bedroom California City home. Close to Golf course. Cosmetic fixer.

324 Elm Street Shafter, CA 93263

$215,300
3 Beds
1 Bath
1,290 SqFt
Status Active Under Contract
MLS # IV21228419
Property Type Single Family Residence
Price Type --
Don’t miss out on this is a spectacular opportunity to own a home in a convenient location at an affordable price. This residence features three bedrooms, covered front porch, private yard, and driveway for off-street parking. Conveniently located a short distance to many restaurants, shopping, outdoor recreational activities, and easy access to numerous highways. Don’t let this unique opportunity pass you by. All potential buyers are asked to check with City, County, Zoning, Tax, and other records to determine all details on this property listed above to their satisfaction. This is an AS-IS REO property.

5019 Genesta Avenue Encino, CA 91316

$1,750,000
3 Beds
3.5 Baths
2,719 SqFt
Status Active Under Contract
MLS # 21798686
Property Type Single Family Residence
Price Type --
Partial two story older home with 3 bedrooms, 3.5 bathrooms and small bedroom & bathroom behind garage. The property is in need of major repair (seller discloses that home needs new roof, new electrical, and new plumbing) and needs extensive environmental remediation (asbestos, mold, and soil contamination). Fireplace in living room was previously damaged in earthquake and does not function. The home has no kitchen with wall studs exposed. Downstairs has two bedrooms, den, two bathrooms and powder room, and upstairs has one bedroom & one bathroom. Seller discloses that pool has a crack and needs repair. Home is located across from a school and will hear school bell and will experience increased car traffic during student drop off and again during pickup. Two car garage. Property is tenant occupied and tenants will still have possession after closing. No interior photos are available, please see inspection report for any interior photos. Drive by only. This is a Short Sale.

465 N Maple Avenue Fontana, CA 92336

$445,000
3 Beds
2 Baths
1,679 SqFt
Status Active
MLS # 21101455
Property Type Single Family Residence
Price Type --
Bring your TLC to this gated, single story, traditional style home in Fontana with an in-ground pool. Nestled between downtown Fontana and downtown Rialto. Close to shopping, cafes, and grocery stores! Home is occupied and interior condition is unknown, buyers must be willing/able to close while occupied and without showings, interior inspection, or appraisal. Do not miss this great opportunity to create your dream house and private oasis! This property is owned by Southside Neighborhood Stabilization and was purchased at foreclosure post auction bid pursuant to SB 1079. SB 1079 was put in place to promote homeownership and therefore priority for offers are given to owner occupant buyers. Buyers must provide a notarized affidavit that the agent will supply that states they intend to live in the property. Secondary priority will be given to investors who sign an affidavit stating they plan to rehab and sell the property to an owner occupant. Third priority is to investors who sign an affidavit stating they intend to rehab the property and provide affordable housing. All buyers required to prequalify through sellers preferred lender.