Foreclosure in Delaware City>Question Details

Bailey Dog,  in Delaware

Can someone explain the sheriff sale bidding process for foreclosures in New Castle County, Delaware?

Asked by Bailey Dog, Delaware Tue Dec 21, 2010

I know most of the details concerning the process for the specific sales (10% down day of auction if winning bid; 5k cashiers check required to bid). Is there a reserve set and is it the morgage balance? Does the bank ever bid over the mortgage balance? Also, any details on the best way of obtaining a loan for something like this when it requires to close within 30 days.

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You can review the foreclosure laws for Delaware by clicking the link below and selecting your state. The bank is looking to secure their interest and will place a first bid that includes all the fees owed to the bank. Any increase above the bank fees will be the result of other bidders. http://www.worldclassmemberservices.com/ForeclosureLaws.html
0 votes Thank Flag Link Tue Dec 21, 2010
You can review the foreclosure laws for Delaware by clicking the link below and selecting your state. The bank is looking to secure their interest and will place a first bid that includes all the fees owed to the bank. Any increase above the bank fees will be the result of other bidders. http://www.worldclassmemberservices.com/ForeclosureLaws.html
0 votes Thank Flag Link Tue Dec 21, 2010
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