The procedure used to sell the properties is a bidding process. The winning bidder must have $2,000.00 in cash, certified funds or a money order at the time of bidding. The bidder will have until 12:00 p.m. (the same day) to bring in the remaining balance to the Sheriff’s Office.
There’s a sixty (60) day redemption period. The confirmation is on the first Friday following the first Monday of the following month. The sixty (60) day redemption is counted from the confirmation date, not sale date.
If the homeowner redeems the property, the winning bidder will receive his/her money back plus 15% of the price he/she paid. If for some reason the sale is overturned by the court, the bidder will only receive back the amount of the bid and not the 15%.
After the redemption period is up, the new owner will receive a Sheriff’s Deed which will need to be recorded in the Recorder of Deeds, subject to Delaware Transfer Tax.
