Orange County Bank Foreclosures | REO homes in Orange County
Orange County used to have few foreclosures, but this has changed over the past several years. The foreclosure and REO market in Orange County brings bargains to all types of home buyers: from condos and town homes, single family homes, to high end luxury homes.
With foreclosures and short sales, not only is market knowledge important to have, but to also have access to the right properties at the right time with the right information is critical. When you buy a foreclosed home, you're cashing in on a home someone was no longer able to afford. Orange County Foreclosures are a little difficult, but the potential to turn them over for a profit may be there. At OCExecutives - our agents will check nearby for comparable homes to see if the asking price for a foreclosed home is, in fact, a bargain.
Bank Foreclosures in Orange County, or REO properties ( Real Estate Owned in Orange County) by city:
Here's a map of Orange County's REO ( Real Estate Owned or Bank Owned) Homes. Read more about foreclosed homes vrs REO homes.
Orange County Foreclosures and Bank Owned Homes
Once In A Lifetime Opportunity To Purchase This Extraordinary...
- Price:
- $4,995,000
- City:
- San Juan Capistrano
- Beds:
- 7
- Baths:
- 14
- Type:
- Residential
- MLS® #:
- S685405
Once In A Lifetime Opportunity To Purchase This Extraordinary Custom Italian Renaissance Estate On The...
This Is A Brand New Never Occupied Mixed Use Building...
- Price:
- $4,399,000
- City:
- San Clemente
- Beds:
- 8
- Baths:
- 16
- Type:
- Residential
- MLS® #:
- S626584
This Is A Brand New Never Occupied Mixed Use Building That Is Lender Owned Consisting Of 4 Ocean View...
Newport Peninsula, 5 Bedroom Home With Spectacular...
- Price:
- $2,120,000
- City:
- Newport Beach
- Beds:
- 5
- Baths:
- 3
- Type:
- Residential
- MLS® #:
- P809950
Newport Peninsula, 5 Bedroom Home With Spectacular Rooftop Deck Perfect For Entertaining With Channel...
Panoramic Ocean, Catalina Island And City Lights Views...
- Price:
- $1,900,000
- City:
- Laguna Niguel
- Beds:
- 5
- Baths:
- 6
- Type:
- Residential
- MLS® #:
- U12000164
Panoramic Ocean, Catalina Island And City Lights Views From This 4,820 Square Foot Home. Desirable Neighborhood...
Own Your Dream Home In Popular Covenant Hills! This...
- Price:
- $1,899,000
- City:
- Ladera Ranch
- Beds:
- 6
- Baths:
- 7
- Type:
- Residential
- MLS® #:
- S688830
Own Your Dream Home In Popular Covenant Hills! This Absolutely Gorgeous, Mediterranean-style Home In...
Newly Redesigned To Perfection...great Ocean Views...
- Price:
- $1,849,000
- City:
- Laguna Beach
- Beds:
- 4
- Baths:
- 4
- Type:
- Residential
- MLS® #:
- L38165
Newly Redesigned To Perfection...great Ocean Views From This Newer Home In Upper Three Arch Bay. Four...
This Home Is The Quintessential Laguana Beach Contemporary...
- Price:
- $1,699,900
- City:
- Laguna Beach
- Beds:
- 3
- Baths:
- 4
- Type:
- Residential
- MLS® #:
- U12000400
This Home Is The Quintessential Laguana Beach Contemporary Home With Dramatic Coastal, Ocean, Nightlights...
Reo With Stunning Ocean And Catalina Island Views On...
- Price:
- $1,500,000
- City:
- Corona Del Mar
- Beds:
- 3
- Baths:
- 2
- Type:
- Residential
- MLS® #:
- P812000
Reo With Stunning Ocean And Catalina Island Views On Spyglass Hill! Granite And Stainless Steel Kithchen,...
Exceptional Single Level Home. Gourmet Kitchen, Large...
- Price:
- $1,499,000
- City:
- Laguna Beach
- Beds:
- 3
- Baths:
- 3
- Type:
- Residential
- MLS® #:
- L36457
Exceptional Single Level Home. Gourmet Kitchen, Large Family Room, Formal Dining Room, Separate Living...
Welcome To The Prestigious Community Of Belcara In...
- Price:
- $1,469,900
- City:
- Newport Coast
- Beds:
- 4
- Baths:
- 5
- Type:
- Residential
- MLS® #:
- P803040
Welcome To The Prestigious Community Of Belcara In Pacific Ridge. This Expansive Designer Home With Top...
Tranquility At The Top! Breathtaking Canyon And Mountain...
- Price:
- $1,414,000
- City:
- Coto De Caza
- Beds:
- 5
- Baths:
- 6
- Type:
- Residential
- MLS® #:
- S687216
Tranquility At The Top! Breathtaking Canyon And Mountain Views In Coto's Oakview Community. Graced With...
Must See This Beautiful Custom Home In Stoneridge Estates....
- Price:
- $1,325,000
- City:
- San Juan Capistrano
- Beds:
- 4
- Baths:
- 5
- Type:
- Residential
- MLS® #:
- P811941
Must See This Beautiful Custom Home In Stoneridge Estates. Features Beautiful Pool, Spa, Gourmet Kitchen,...
Hamptons Model 3, 4 Bedroom, 5 Bath With New Carpet...
- Price:
- $1,299,900
- City:
- Huntington Beach
- Beds:
- 4
- Baths:
- 5
- Type:
- Residential
- MLS® #:
- S685854
Hamptons Model 3, 4 Bedroom, 5 Bath With New Carpet And Interior Paint. Formal Living And Dining Rooms,...
Perfect Beach Retreat..... Open The Windows And Feel...
- Price:
- $1,277,500
- City:
- Newport Beach
- Beds:
- 3
- Baths:
- 2
- Type:
- Residential
- MLS® #:
- P808515
Perfect Beach Retreat..... Open The Windows And Feel The Ocean Breezes. Located On Peninsula Point This...
Located Near The Top Of Covenant Hills, This Stately...
- Price:
- $1,250,000
- City:
- Ladera Ranch
- Beds:
- 6
- Baths:
- 6
- Type:
- Residential
- MLS® #:
- S688079
Located Near The Top Of Covenant Hills, This Stately Tuscan Villa Features Sweeping Panoramic Views....
Blocks From The Beach!! Enjoy The Warm Summer Breezes...
- Price:
- $1,145,000
- City:
- Huntington Beach
- Beds:
- 3
- Baths:
- 5
- Type:
- Residential
- MLS® #:
- P812877
Blocks From The Beach!! Enjoy The Warm Summer Breezes From Your Front Patio. Make This Move In Ready...
Blocks From The Beach!! Enjoy The Warm Summer Breezes...
- Price:
- $1,145,000
- City:
- Huntington Beach
- Beds:
- 3
- Baths:
- 5
- Type:
- Residential
- MLS® #:
- P812011
Blocks From The Beach!! Enjoy The Warm Summer Breezes From Your Front Patio. Make This Move In Ready...
Priced To Sell Front Townhome In The Heart Of Cdm!...
- Price:
- $1,110,000
- City:
- Corona Del Mar
- Beds:
- 4
- Baths:
- 4
- Type:
- Residential
- MLS® #:
- U12000092
Priced To Sell Front Townhome In The Heart Of Cdm! Rare 4 Bedroom Front Town Home Walking Distance...
Luxury Reo Duplex At Its Finest. Bank Just Completed...
- Price:
- $1,100,000
- City:
- Corona Del Mar
- Beds:
- 2
- Baths:
- 2
- Type:
- Residential
- MLS® #:
- U12000606
Luxury Reo Duplex At Its Finest. Bank Just Completed Rehab. Desirable South Of The Highway Duplex In...
This Stunning Contemporary Property Is Walking Distance...
- Price:
- $1,050,000
- City:
- Huntington Beach
- Beds:
- 3
- Baths:
- 5
- Type:
- Residential
- MLS® #:
- S680675
This Stunning Contemporary Property Is Walking Distance To The Beach, Shops And Restaurants. Totally...
Orange County REO and Foreclosure Properties For Sale:
Orange County Foreclosures: A REO (Real Estate Owned) is a property that goes back to the mortgage company after an unsuccessful foreclosure auction ( when the owner stopped payments and lender took over home). Most of foreclosure auctions do not result in bids or sales because if there was enough equity in the property to satisfy the loan, the owner would more likely have sold the property and paid off the bank. That is why the property ends up at a foreclosure or trustee sale.
A foreclosure sale will begin with a minimum bid that includes the loan balance, interest, plus attorney's fees and any costs association with the foreclosure process. If you want to bid in a foreclosure auction, you must have a cashier's check in your hand for the full amount of your bid. If you are the successful bidder, you receive the property in "as is" condition, which may include someone still living in the property. There may also be other liens against the property.
Since what is owed to the bank is almost always more than what the property is worth, very few foreclosure auctions result in a successful sale. Then the property "reverts" to the bank. It becomes an REO, or "real estate owned" property.
Orange County REO's: the bank now owns the property and the mortgage loan no longer exists. The bank will handle any evictions, and may even do some repairs before listing the property for sale. The banks remove the tax liens and pay off any HOA dues if existent. When a buyer purchases a REO, a title insurance policy and the opportunity to investigate the property. A bank owned property might not be a great bargain. Do your homework before making an offer. Make sure that the price you pay (if you’re successful) is comparable to other homes in the neighborhood. Consider the costs of renovation, and be careful with over bidding and pay over market value.
