Frequently Asked Questions
Answers to common buying & selling questions
Buying
We guide buyers from first search to settlement in Lewes, Rehoboth Beach, Dewey Beach, Milton and nearby Sussex County towns. That includes setting a budget and getting pre-approved, touring homes, writing and negotiating offers, and coordinating inspections, the appraisal and settlement. As a Coldwell Banker Premier team based in Rehoboth Beach, we also help with local questions like HOAs, flood zones, and buying a second home or rental property.
The largest closing cost is usually Delaware's realty transfer tax, which is typically 4% of the purchase price in towns that charge the full local share and is customarily split evenly between buyer and seller. Buyers also pay lender fees, the settlement attorney's fee, title insurance, and prepaid property taxes and homeowners insurance. Eligible first-time buyers may qualify for a reduced transfer tax. Your lender's Loan Estimate shows your exact figures.
Property taxes in Sussex County are relatively low compared with much of the Mid-Atlantic, and Delaware has no state sales tax. Your bill combines county and school district taxes, plus town taxes if the home is inside town limits. Sussex County completed a countywide reassessment for the 2025 tax year, so check the county's current assessment and tax calculator for any home you're considering.
The Skip Faust Coastal Properties Group serves Coastal Delaware and Sussex County, including Lewes, Rehoboth Beach, Dewey Beach, Milton, Georgetown and Bethany Beach. We work with primary-home buyers, second-home and vacation-home buyers, investors, people relocating or retiring to the Delaware beaches, and local homeowners who are selling.
Before you tour homes, you and your agent sign a written buyer agreement that states how the agent will be paid. In many Coastal Delaware sales the seller offers to cover some or all of the buyer's agent compensation, and it can also be negotiated as part of your offer, but it isn't guaranteed. We go over your options before you start so there are no surprises at settlement.
Go to Search Listings at skipfaust.com/search to see current MLS listings across Coastal Delaware. You can filter by price, bedrooms, bathrooms, property type and location, save favorite homes, and save searches to get email alerts when new listings match. To see a home in person, call the team at (302) 745-8764 or use the contact form on the site.
Often, yes. From fall through early spring there are usually fewer competing buyers, sellers can be more open to negotiating, and you get to see what year-round life in a beach town is really like. Buying in the off-season can also have you settled in before summer. Skip Faust covers this in more detail in our blog post on off-season home buying at the Delaware beaches.
Yes. In Delaware, every real estate settlement must be handled by a Delaware-licensed attorney, who also oversees the closing funds. The attorney's office runs the title search, prepares the closing documents and records the deed. Buyers typically choose the settlement attorney, and your agent coordinates with their office throughout the purchase.
If the home is in a FEMA high-risk flood zone and you have a mortgage, your lender will require flood insurance. Many Coastal Delaware homes are in or near these zones, so check the flood zone and get an insurance quote early, before your inspection period ends. Even outside high-risk zones, flood coverage is worth pricing, because standard homeowners policies don't cover flooding.
Often, but the rules depend on the town and the community. Delaware charges an 8% state lodging tax on short-term rentals, and Sussex County is allowed to add its own lodging tax of up to 3%. Many beach towns require a rental license, and some HOAs limit or ban short-term rentals. Check the town's and the community's rules before you buy; we can help you find them.
Selling
We price your home using current MLS data on comparable active, pending and sold properties, combined with our knowledge of the local market. We then market the listing with professional photography and virtual tours and promote it on skipfaust.com, major home search sites and social media. We handle showings, offers, negotiations and settlement, and keep you updated at every step.
We compare your home with similar nearby properties that are currently for sale, under contract and recently sold, using MLS data, then adjust for condition, location, upgrades and current market activity. The goal is a price that draws strong buyer interest without leaving money on the table. Start with a free home value estimate at skipfaust.com/home_value, then meet with us for a full market analysis.
Yes. Request a free property marketing plan from the Selling page on skipfaust.com or by calling (302) 745-8764. It lays out the recommended price, how your home will be marketed and the expected timeline, so you can make a decision with no obligation.
You'll get regular updates from your agent on showings, buyer feedback and online activity, along with access to an online dashboard that tracks your listing and transaction. We also explain each step from offer to settlement, so you always know what comes next.
Financing
We connect you with trusted local lenders who can get you pre-approved and explain loan options for primary homes, second homes and investment properties. Getting pre-approved before you shop shows sellers you're a serious buyer. Once you're under contract, we stay in touch with your lender through the appraisal and underwriting to keep your purchase on schedule for settlement.
Lenders typically ask for your last two years of W-2s or tax returns, recent pay stubs, two to three months of bank and asset statements, and a photo ID, and they will check your credit. Self-employed buyers usually need two years of personal and business tax returns. Your lender will give you its exact list.
Your loan goes into processing, where the lender verifies your documents and orders the appraisal, while the settlement attorney orders the title search. An underwriter then reviews the file and may ask for more documents before issuing a clear to close. You'll receive your Closing Disclosure at least three business days before settlement to review the final loan terms.
Settlement is handled by a Delaware-licensed attorney, usually at the attorney's office. You'll review and sign the loan and property documents, provide your remaining funds by wire or certified check, and show proof of homeowners insurance. Once everything is signed and funded, you get the keys and the attorney records the deed. Always confirm wiring instructions by phone with the attorney's office before sending money.
Listing pages on skipfaust.com include a payment estimate that factors in principal and interest, property taxes, homeowners insurance and HOA fees. For an exact figure based on your rate and down payment, ask your lender for a Loan Estimate.
Agents & Team
Call (302) 745-8764, email skip@skipfaust.com, or use the contact form at skipfaust.com/connect. The team's office is at Coldwell Banker Premier, 20184 Coastal Highway, Rehoboth Beach, DE 19971.
Skip Faust is a Lewes native with 40 years in local real estate, so he knows the area's towns, neighborhoods and market cycles firsthand. Clients describe him as a strong negotiator and a clear communicator who builds the right strategy for each purchase or sale, and many come back to work with him again. You can read client reviews at skipfaust.com/reviews.
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