Delaware Foreclosures - 2,321 Foreclosure Listings

Foreclosure Homes in Delaware

There are currently foreclosed homes listed in Delaware. Why should you consider buying a foreclosure property in Delaware? To save money, of course! That’s right, purchasing a foreclosed home can save you as much as 50 percent or more on the final sale price of a distressed deal in Delaware when compared to a traditional single-family house. We’ve also got awesome deals on top of incredible foreclosure deals, from rent-to-own homes, short sales and preforeclosures in Delaware, as well as bankruptcy filings and government-owned foreclosure listings such as HUD, Fannie Mae and Freddie Mac, among others. Just select the county in Delaware that you want to look for a property below. Then search through all distressed real estate listings in Delaware for the amazing deal that’s right for you.

Delaware Foreclosure Laws

In Delaware, foreclosures are generally handled through the courts using a judicial process. Home loans are usually secured by mortgages. The timeline can be lengthy because the case must proceed through court steps before a sale occurs. After the sale, deficiency balances may be sought depending on the outcome of the case.

Foreclosure Type Process

Judicial
Mortgage Instrument Security Type

Mortgage. Deeds of trust are generally not used.
Typical Timeline Duration

6-12 months typical
Deficiency Judgment

Deficiency limited to difference between debt and appraised value
Redemption Period Owner Rights

Limited statutory rights.
Process Summary

Foreclosures in Delaware must go through the courts. After judgment, the property is sold at a sheriff’s sale under court supervision.
Notice / Timing Statute

10 Delaware Code § 5061 et seq. (notice of intent 45 days before filing)
Redemption Statute(s)

10 Delaware Code § 5066 (no statutory redemption period)
Deficiency Statute(s)

10 Delaware Code § 5065 (deficiency based on fair market value, not sale price)

How to Buy a Foreclosure in Delaware

In Delaware, locate foreclosure opportunities through county recorder offices, MLS, and legal notices in newspapers. Delaware' judicial foreclosure system means the sale is court-supervised with potential redemption periods. Ensure financing is in place well before the sale date. Conduct title and inspection checks to assess encumbrances and condition. Attend the sheriff' sale and follow transfer procedures upon successful bidding.

What type of foreclosure is used in Delaware?

The type of foreclosure in Delaware is Judicial

Is there a redemption period in Delaware?

Limited statutory rights.

Are deficiency judgments allowed in Delaware?

Deficiency limited to difference between debt and appraised value in Delaware

How do you buy a foreclosure in Delaware?

In Delaware, locate foreclosure opportunities through county recorder offices, MLS, and legal notices in newspapers.