How costly, complicated, and time consuming is forclosure in PA?

[Joe P.]

I have a vacant land property that I have been trying to get rid of for 6 months and I need to sell now so I'm weighing my options.  

I can either sell at a loss for cash or finance it to someone for a potential profit so I am wondering what costs would be involved in the event of a default on this property.  If they defaulted is it a certainty that I would get the property back or is it a maybe?

The property is flood zone and apparently has limited uses so that is why I would be worried about a default.  

[David Krulac]

@Joe P.

Foreclosure in PA is Judicial, meaning you need to file a law suit and go to court.  Uncontested foreclosure can cost $5,000 or more.  Obviously contested would cost more.  Depending on the county, most around the Mechanicsburg area only have Sheriff Sales either 4 or 6 times a year, and there is a lead time to get on the list of months, due to the law, rules and regulations.  You be safe in figuring 6 months or more just to get to the Sheriff Sale.  If the property is low value there may be no interested party at the Sheriff Sale.  Most of the properties at Sheriff Sale go back to the lender with no other bidders.  Is this the property in Lewisberry with stream wetlands and guard rail around it? Contact me off line for more info.

@Theodore Xenos  Its difficult but not impossible to build in the Flood Zone.  You can't build in the Flood Way, but can build outside the Flood Way but still in the flood zone.  One way is to elevate the house on stilts like houses build at the ocean.  Flood maps are constantly changing and more area is within the Flood Zone due to new development and more rain water runoff.