Orange is one of the major cities in the famous Orange County, California. Like most Southern California cities, many local opportunities exist to look for cheap real estate deals through Orange foreclosures. Buyers can hunt down foreclosed homes in Orange with local foreclosure listings. After looking at the listings and preparing bidding money, buyers can buy foreclosed land and homes in Orange by placing the highest bid at the auctions.
Find Orange County foreclosure listings. The rather vague California law states that the lender must post a public notice of sale in a public place in the county of the foreclosed property. Of course, this means that lenders who foreclose on Orange homes will post in Orange County. A “public place” usually means the courthouse or some other public building. If you want to find these Orange foreclosure listings for free, then ask the Orange County Clerk-Recorder. You can find this office on the county’s website at OCGov.com. Ask that office where to find the filed and posted foreclosure notices in Orange County.
Online foreclosure websites present another option for finding Orange foreclosures. Some sites like FreeForeclosureDatabase.com are free but may have limited listings. Other sites like Foreclosure.com have more listings but charge a fee. If you want to check out the services, you can usually get a free trial and then decide whether you want to subscribe to get regularly updated foreclosure notices.
Have a look at each foreclosure listing that you find to get details on the foreclosed properties and the auctions in which they will be sold. The only thing that you can expect in terms of foreclosure sales is that the auction will take place somewhere in Orange County. Make sure you know how to find the right place before the sale date to avoid possibly missing the auction.
Check out the foreclosed properties to the best of your ability. The most important thing is to estimate each Orange foreclosure’s fair market value. The basic plan when buying a foreclosed home in Orange or anywhere else is to set a maximum bid that is a “steal” compared to the home’s real value on the market. You can attempt to do this by discussing area home values with neighbors of the foreclosed property or real estate agents of appraisers in Orange that are familiar with the local housing market.
Prepare cash or certified funds to pay in the event you win an auction. How much you need to pay on the auction day depends on the seller’s instructions. Read the notice carefully and, if necessary, call the selling party to get detailed instructions.
Go to the auctions and bid to buy the Orange foreclosed homes that you wish to purchase. When you buy any real estate virtually anywhere, it is paramount to get a property deed that shows you paid to purchase a property. Get a deed for the Orange foreclosures you buy from the seller.
File the property deed with the Orange County Clerk-Recorder. This is the office that houses all real property records for the city of Orange and the rest of Orange County.
Foreclosure.com Page on California Foreclosures