DELAWARE BEACH FORECLOSURES
Complete List by Town Updated Hourly
Search Delaware Beach Foreclosures HERE!. The Delaware coastal region of Sussex county, is a haven for retirees and for second home buyers. Each month approx. 150 properties/homes/condos are posted enabling buyers to search Delaware Beach foreclosure at the Sussex County Sheriffs Office . Every third Tuesday of the month starting at 9:30 am. the sheriff auctions them off to the highest bidder. Of the original approx. 150 properties that are listed , 50% of them will be stayed by auction time. This means home owners satisfied their debt, and or were granted more time by the lender/bank to avoid foreclosure that month. Some home owners comply with the bank to do a short sale to avoid foreclosure. This is advantageous to the sellers credit ratings versus foreclosure. These are commonly referred to as short sales or preforeclosures.
A SEARCH DELAWARE BEACH FORECLOSURES IN SUSSEX COUNTY (IN ORDER FROM LOWEST PRICE TO HIGHEST)
Now the remaining homes/properties/condos are auctioned. The lenders/banks attorney sets the opening bid and actively bids up to the dollar amount he has been instructed by bank/lender. The banks/lenders buy almost all of the property back. There are rarely more than a handful that ever sell to anyone else but the banks. These are now Delaware Beach Foreclosure homes, which then in approx. 2 months from auction, get listed with various real estate companies. They are then referred to as REOs meaning “real estate owned” properties by banks/lenders.Searching for Delaware Beach foreclosures can be a daunting task, therefore I have compiled a list of all Delaware Beach Foreclosures currently for sale.