DELAWARE BEACH FORECLOSURES
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 .
 FORECLOSURES IN SUSSEX COUNTYÂ
 Foreclosures East of Rt 1
Between Rt 1- Rt 113
Between Rt 113- Rt 13
West of RT113Â
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 list , 50% of them will be stayed by auction time. Moreover, this means home owners satisfied their debt, and or were granted more time by the lender/bank to avoid foreclosure that month. Therefore, 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. In addition, these are short sales or preforeclosures.
Now the remaining homes/properties/condos are up for auction. 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. In addition, 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, lists with various real estate companies. Therefore, they are then REOs meaning “real estate own” properties by banks/lenders. In conclusion ,searching for Delaware Beach foreclosures can be a daunting task, therefore I have compiled a list of all Delaware Beach Foreclosures currently for sale.
