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467 BAY AVE, Slaughter Beach, Delaware 19963 | $475,000

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Charming classic Bay front cottage. Enjoy the peace and quiet of nature. Strong rental history. Sold As-Is and fully furnished.

Property Details

  • MLS Number: 602273
  • Status: Active
  • Price: $475,000
  • Property Type: Single Family Home
  • Area: Cedar Creek Hundred
  • Community: Slaughter Beach
  • School District: Milford
  • Bedrooms: 2
  • Full Bathrooms: 1
  • Number of Stories: 1
  • New Construction: N
  • County Taxes: $309
  • Water Fee: $200
  • Waterfront: Bay
  • Water View: Bay
  • Furnished: Y
  • Lot Size Acres: 0.02
  • Lot Description: Cleared, Landscaped
  • Water: Public Central Water
  • Sewer: Peat System
  • Last-modified:
467 BAY AVE, Slaughter Beach, DE
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Interior Features

  • Kitchen: Eat In
  • Fireplace: Gas
  • Heating: Heat Pump(s)
  • Cooling: Heat Pump(s)
  • Flooring: Hardwood
  • Attic: Access Only
  • Appliances: Instant Hot Water, Microwave, Oven/Range Gas, Range Hood, Refrigerator, Water Heater-Tankless
  • Interior Features: Bedroom-First Floor, Cable TV Prewired, Ceiling Fan(s), Fireplace-Gas

Exterior Features

  • Style: Cottage
  • Construction Type: Stick/Frame
  • Exterior Type: Asbestos Shingle
  • Roofing: Architectural Shingle
  • Foundation: Piers
  • Garage: Detached
  • Garage Size: 2
  • Parking: Garage
  • Porch/Deck/Patio: Rear
  • Exterior Features: Fencing-Full

Listing Courtesy of RE/MAX REALTY GROUP REHOBOTH

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Sussex County Seller Financing: a Powerful Inducement

The recent Mortgage Credit Availability Index shows a slight relaxation in lending standards — but as most Delaware home buyers and sellers will agree, getting a mortgage is still difficult. With mortgage availability benchmarked at 100, although it’s currently at  111 ½, compared with the 800 it stood at in 2007, today’s is still a tough environment.

That’s why Delaware seller financing is being considered by more homeowners. When a home is owned outright, seller financing can draw a higher selling price (with future interest payments as a bonus). But before making such an offer, Delaware homeowners need to consider all of the ramifications: there is more involved than just the assumption of added risk.

Of course, ordering and examining a buyer’s credit report is the starting point. If the story it tells needs too many explanations, it’s time to walk away. Foreclosing on a seller-financed home can be more difficult than through a traditional foreclosure —particularly if the financing documents are substandard.

At first blush, seller financing might seem to simplify the whole transaction, but in fact some details usually handled by a bank must be hammered out:

  • Who will pay for the appraisal; who for the inspection?
  • Who is going to be responsible for property taxes and upkeep?
  • Will the deed be transferred to the buyer right away, or only after the home is paid off? 

Those issues point out why a “handshake deal” can’t be recommended for a Delaware seller financing arrangement. Just consider the last two points: if the deed hasn’t been transferred and taxes are in arrears, whose credit is harmed?

A good attorney will draft an agreement that nails down responsibilities and penalties for a buyer default as well as a detailed payment structure. A well-drafted seller financing agreement protects both parties by preventing misunderstandings and providing an unambiguous inducement for good behavior.

Given the right buyer, clear communicating and a framework cemented by the proper paperwork, Delaware seller financing can provide the missing element that makes a sale possible. If you will be listing your own Delaware home, give me a call /text 302-228-7871 or email me, Russell Stucki, REALTOR® of Beach Real Estate Market to provide detailed information on Delaware homes for sale, investment and commercial properties, luxury and  waterfront homes, condos/townhomes, new construction, lots and land, farms and equestrian properties located in but not limited to Bethany, Bethel, Bridgeville, Dagsboro, Delmar, Ellendale, Fenwick Island, Frankford, Georgetown, Greenwood, Harbeson, Laurel, Lewes, Lincoln, Milford, Millsboro, Millville, Milton, Ocean View, Rehoboth Beach, Seaford, Selbyville, Delaware.

On Selling Your Home in Delaware …When It’s Not Even Listed!

It’s the kind of “problem” many would like to have: a buyer has just made an offer on your home — and you hadn’t even listed it for sale!

Turns out, it’s not all that uncommon for “house-stalkers” (or their determined agents) to slip notes into owner’s mailboxes or just knock on the door and ask to buy the house. It’s a house-hunting strategy that has worked for all kinds of buyers who are unimpressed by the homes they find on the market.

For anyone up in the air about selling your home in Delaware, here are some questions that can lead to a rational decision:

Were you planning to sell in the future?

If so, how far into the future? 20 years? If that’s the case, unless it’s an astounding offer, better stay put. But if you were considering selling your area Delaware  home within the coming 5 years, seriously entertain the offer! Making the most of unexpected happenstances is a calling card of successful people from time immemorial.

Is the return on your investment substantial?

Except in a financial emergencies, selling your home in Delaware is never a good idea unless you are getting a solid return on your initial investment. (Not just the initial price: include renovations, additions and your own sweat equity). If the offer qualifies on this dimension, it’s time to engage a professional home appraiser to give you an expert view of what your property is really worth in the current market.

Are you ready to move?

We all have emotional connections to our homes, especially after we’ve invested much effort into shaping its look and feel. Part of your decision that’s as important as the financial side comes with considering where you would live after the sale. Gauge whether your excitement over a new house, neighborhood and even a new city outweigh the feelings you have for your current home.

If opportunity comes knocking at your door, it never hurts to consider! And if you are thinking of selling your home in town in any case, give me a call to go over the numbers!

Call/text 302-228-7871 or email me, Russell Stucki, REALTOR ® of Beach Real Estate Market to provide detailed information on Delaware homes for sale, investment and commercial properties, luxury and  waterfront homes, condos/townhomes, new construction, lots and land, farms and equestrian properties located in but not limited to Bethany, Bethel, Bridgeville, Dagsboro, Delmar, Ellendale, Fenwick Island, Frankford, Georgetown, Greenwood, Harbeson, Laurel, Lewes, Lincoln, Milford, Millsboro, Millville, Milton, Ocean View, Rehoboth Beach, Seaford, Selbyville, Delaware.