DELAWARE BEACH FORECLOSURES
DELAWARE BEACH FORECLOSURES
Complete List by Town Updated Hourly
Search here for Delaware Beach Foreclosures. 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)
BETHANY
Dagsboro
FENWICK ISLAND
FRANKFORD
GEORGETOWN
HARBESON
LEWES
LONGNECK
MILLSBORO
MILLVILLE
MILTON
OCEAN VIEW
REHOBOTH BEACH
SELBYVILLE
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.
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