201904.30
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2 Leisure World units still unsold after two county auctions

by in News

County officials received 14 bids for two of the condos in a property auction on behalf of deceased homeowners, but two Leisure World co-op units remain unsold after two auctions, a spokeswoman for the Orange County District Attorney’s Office said.

Details of the bid amounts are being withheld to give officials time to notify high bidders and sign sales contracts, said Kimberly Edds, a public information officer for the DA, which oversees the county Public Administrator’s Office.

The Public Administrator settles the estates of people who die without a will or without a relative able to step in and handle their affairs.

The four condos failed to sell at a public auction on March 30, the first such auction in more than two years.

County officials lowered minimum bids and accepted sealed offers until Thursday. Officials opened those bids on Tuesday, April 30.

One of the condos that sold is a three-bedroom, two-bathroom unit in Fullerton, with a minimum bid of $328,000 but an estimated value of at least $417,000, according to real estate websites.

The other is a two-bedroom, two-bath condo in Laguna Hills, with a minimum bid of $308,000 and an estimated value of at least $379,000.

County officials plan to list the two Leisure World units – one in Seal Beach, the other in Laguna Woods – with a broker. The Seal Beach unit had a minimum bid of $220,000, while the Laguna Woods property had a minimum asking amount of $288,000.