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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).

300 Ashton Ave Oakland, CA 94603

$390,000
3 Beds
1 Bath
1,049 SqFt
Status Pending
MLS # 40899581
Property Type Single Family Residence
Price Type --
DRIVE BY ONLY!!! Currently occupied by former owner. Do Not go on Property. Back Up offer's (if any) Subject to Interior Inspection. Sellers acquired property as REO and has no knowledge of current condition of property. Sellers are Licensed Real Estate Agents/Broker.

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

4252 Tosca Road Woodland Hills, CA 91364

$705,000
2 Beds
2 Baths
1,684 SqFt
Status Active Under Contract
MLS # 20571994
Property Type Single Family Residence
Price Type --
**IMPORTANT** OFFERS WERE DUE SEVERAL WEEKS AGO. AN OFFER IS CURRENTLY UNDER REVIEW WITH THE LENDER PENDING APPROVAL. NO SHOWINGS AT THIS TIME. DO NOT DISTRUB OWNER. THIS IS A SHORT SALE, BEING SOLD IN AS-IS CONDITION. NO REPAIRS OF ANY KIND WILL BE MADE. NO TERMITE SECTION 1 CLEARANCE, NHD, HOME WARRANTY WILL BE PAID BY THE LENDER. FIXER UPPER. A must see cottage hidden in Woodland Hills. Don't miss the opportunity to own this unique flat 7000 Sq ft lot, it's time to get creative! Whether you want to live in the two bedroom, one bath portion of the house and rent the attached unit, or you want to convert into a three bed, two bath, or even a four-two, thats up to you!

6242 Morley Avenue Los Angeles, CA 90056

$883,900
3 Beds
2 Baths
1,776 SqFt
Status Active Under Contract
MLS # IV20080557
Property Type Single Family Residence
Price Type --
Welcome to Los Angeles, California. This charming single family residence features three bedrooms and two baths with two car detached garage. Front covered patio. Hardwood flooring throughout. If you blink it will be sold. The property is occupied so all potential buyers are asked to check with city and tax records to determine actual bedroom, bathroom counts and all details on this property listed above to their satisfaction prior to submitting a bid offer online. This is an AS-IS REO property. Exterior drive-by inspections only do not disturb occupants. Online auction all offers must be submitted online. Buyer pays premium at closing. Cash offers only no financing allowed.

19733 Sunset Topanga, CA 90290

$1,413,200
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.

1939 W Cerritos Avenue Anaheim, CA 92804

$560,000
4 Beds
2.5 Baths
1,775 SqFt
Status Pending
MLS # PW20108621
Property Type Single Family Residence
Price Type --
SHORT SALE SUBJECT TO LENDER APPROVAL. Home being sold as-is. No repairs No credits. This is a 4 bedroom 2 baths home is located near Disneyland. Walking distance to James Maddison Elementary School and Loara High School this home has so much to offer. Perfect for investors or first time home buyers.

425 E 111th Place Los Angeles, CA 90061

$390,000
3 Beds
2 Baths
1,286 SqFt
Status Active Under Contract
MLS # DW20105044
Property Type Single Family Residence
Price Type --
ATTENTION INVESTORS!!! This one is for you! FIXER FIXER! Property is in need of Repairs. THIS IS ALSO A SHORT SALE AND A PROBATE SUBJECT TO LENDER'S APPROVAL AND PROBABLY COURT APPROVAL. SOLD AS IS CONDITION.. Drive By Only!! Please Do Not Disturb Occupants!! (LA HERO PROGRAM) on Title Report.

700 N Poplar Avenue Montebello, CA 90640

$450,000
5 Beds
3 Baths
2,412 SqFt
Status Pending
MLS # MB20107999
Property Type Single Family Residence
Price Type --
Single family residence in need of tlc .This is a short sale all terms and conditions are subject to lender approval.

6069 Guthrie Street San Bernardino, CA 92404

$150,000
3 Beds
2 Baths
1,550 SqFt
Status Pending
MLS # IV20113913
Property Type Single Family Residence
Price Type --
Short Sale: All terms and conditions are subject to lender approval. Property sold as-is with no expressed guarantees. Total rehab fixer.

2018 Hull Court Simi Valley, CA 93063

$665,000
5 Beds
3 Baths
2,266 SqFt
Status Pending
MLS # SR20125489
Property Type Single Family Residence
Price Type --
With a great floorplan, a sizable lot, and your own pool, this Simi Valley gem has so much to offer! Updates and EXTENSIVE repairs are needed throughout, but now you can add your own touches to make it shine. This home is located near the best that Simi has to offer including parks, shopping, and schools. What an opportunity to create your own dream home. There is a solar lease to be assumed from Sun Run and as a short sale, all terms and conditions are subject to multiple lien holder's approvals and home is sold as-is with no repairs.

3531 Conestoga Canyon Road Palmdale, CA 93550

$430,000
6 Beds
3 Baths
2,839 SqFt
Status Active Under Contract
MLS # OC20147296
Property Type Single Family Residence
Price Type --
Fixer-upper short sale property sold as-is. Situated in a corner lot, this property is located in a great neighborhood close to schools and easy freeway access. This 2800 square foot home will give you plenty of space and potential for a large family. With some work and your design ideas, this can be your dream home.

7300 Chateau Ridge Lane Riverside, CA 92506

$1,649,000
6 Beds
6.5 Baths
6,129 SqFt
Status Pending
MLS # IV20150883
Property Type Single Family Residence
Price Type --
BACK ON MARKET!!! SHORT SALE! ACCEPTING BACK-UP OFFERS! This is through a private lien holder, not a bank so it will close quickly. Welcome to the Beverly Hills of Riverside! This exquisite estate home was sold just a few months ago and due to circumstances beyond the new Owner's control, it is now in Pre-Foreclosure! However, this stunning amazingly secluded estate home is located in the prestigious gated community of Hawarden Summit! You will fall in love with this simply stunning castle like estate with it's amazing features such as panoramic vista views, sparkling pool, Your own private citrus grove and a 4 car garage with a wrap-around automated gated driveway perfect for RV parking and a space for all of your toys. If you are looking for privacy you will definitely find it here as this home is on .84 acre lot with no neighbors on either side nor is anyone allowed to build behind you! In addition, this home features a very spacious open floor plan of over 6129 square feet inclusive of a media room and separate quarters perfect for teenagers or the extended guest stays, marble floors, 6 spacious bedrooms and a large downstairs office. The master suite is located in it’s own wing inclusive of a private deck with fireplace overlooking the gorgeous pool and stunning view of the valley below. Enjoy the outdoors with your expansive living area featuring floor to ceiling retractable doors, gorgeous waterfall pool overlooking 53 succulent citrus trees!