Delaware Foreclosures - 2,403 Foreclosure Listings

Foreclosure Homes in Delaware

There are currently 2,403 foreclosure homes listed in Delaware. Buying a distressed property in Delaware can save you as much as 50 percent compared to a traditional sale. Along with bank-owned foreclosures, you can browse rent-to-own homes, short sales, preforeclosures, bankruptcies and government-owned listings such as HUD, Fannie Mae and Freddie Mac. Pick a city or county below to see every distressed listing in Delaware.

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: Judicial
Typical timeline: 6-12 months typical
Deficiency judgment: Deficiency limited to difference between debt and appraised value
Redemption period: Limited statutory rights.

Process and statute references

Mortgage Instrument Security Type

Mortgage. Deeds of trust are generally not used.
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.