Sheriff's Foreclosure Sale

Pending judicial evaluation any constable's sale where the Community Wealth Preservation Program is being utilized will be adjourned until the final result of court case (MER-C-94-24).

BEGINNING JANUARY 10, 2024, SHERIFF'S SALES IN MERCER COUNTY WILL BE HELD

EVERY TWO WEEKS

NOTICE Regarding the Community Wealth Preservation Program

On January 12, 2024, Governor Phil Murphy signed legislation into State law developing a Neighborhood Wealth Preservation Program to promote equity and fairness in foreclosure sales by supplying new and higher chances for foreclosed-upon residents and their next of kin, renters, and other potential owner-occupants - together with nonprofit neighborhood development corporations - to purchase and finance a foreclosed-upon home.

NOTE: THIS PROGRAM EXCLUDES THOSE PURCHASING PROPERTIES FOR INVESTMENT PURPOSES.

For further information, see P.L. 2023, c. 255, https://pub.njleg.state.nj.us/Bills/2022/A6000/5664_R3.PDF

Sheriff Sales will be held at the Mercer County Civil Courthouse, 175 South Broad Street, Trenton, every other Wednesday.

Sheriff Sales will start immediately at 2:00 pm.

( Please keep in mind that the Sheriff's Sale List is updated on Mondays, Wednesdays, and Thursdays)

Among the functions of the Sheriff's Office is to perform the sale of real residential or commercial property after foreclosure procedures have actually been finished.

Foreclosure sales are genuine residential or commercial property only; the Sheriff's Office does not understand if any structures are on the residential or commercial property. Further, we can not allow for prospective bidders to go into and check any structure that might be found on the residential or commercial property to be sold.

All residential or commercial properties cost auction at the Sheriff's Office are advertised Tuesday in the Trenton Times and the Trentonian. Advertisements appear when a week for 4 successive weeks prior to the preliminary date of sale.

In addition to newspaper ads, notices of sale are published for public watching here online website (click on this link) or outside the Sheriff's Office, on the first flooring, 175 South Broad Street, Trenton, New Jersey.

The Sheriff's Office does not have a list, for basic circulation, of the residential or commercial properties to be sold. Persons interested in residential or commercial properties can make their own lists from newspaper legal ads.

Sales of residential or commercial property are "open-type" auction sales (no sealed quotes). An opening bid of $100 is bid on the very first round by the complainant. All subsequent bids should start at $100 over the upset and continue at $1,000.00 increments. The residential or commercial property is offered to the highest bidder.

The successful bidder, upon full payment of the bid, will get a Constable's Deed. This deed does not give clear title to the residential or commercial property. In order to obtain clear title, one should satisfy all outstanding liens and encumbrances. If a purchaser does not complete the sale he can be held responsible for his deposit.

If you have an interest in a particular piece of residential or commercial property, we recommend a title search before you actually bid. Title searches are performed by personal companies. Their phone number may be discovered in the yellow pages of the telephone directory. A fee is charged. You may also do your own title search.

If you are the successful bidder on a piece of residential or commercial property, you are needed to post a deposit of 20% on the total bid rate. It must be paid by licensed check, treasurer's check, or cash. It must be paid instantly following the signing of the Conditions of Sale.

The balance of the quote is payable and due on the 30th day from the date of sale. Lawful interest is charged on the balance due from the 11th to the 30th day.

If the residential or commercial property you acquired is occupied, it is your obligation to have the occupants got rid of.

Deed recording costs should be paid by the buyer to the County Clerk's workplace when the deed is tape-recorded.

Rights of Defendants

Most of the times, the residential or commercial property, even after the sale, can be redeemed by the owner for a period of 10 calendar days from the date of sale.

The Sheriff has the discretionary right to make two adjournments of the sale, and no more, not exceeding twenty-eight days for each adjournment. In order to ask for an adjournment a defendant should: be named on the Writ of Execution, reveal ID verifying identity and send a letter asking for the adjournment with a charge of $28 in cash, cash order or accredited check for EACH of his 2 adjournments. When it comes to an accused's lawyer we require your letter to state that you represent the offender's in addition to the reason for adjournment. We will likewise accept a lawyer check.

All costs and commissions that are gathered by the Sheriff's Office are committed the General Treasury of the County of Mercer.

To speed your questions on a particular piece of residential or commercial property, it is handy if you describe the residential or commercial property by its address or docket number, which appears in the legal advertisement. Please feel free to get in touch with the Sheriff's Sales Office at (609) 989-6102, 847-3965, or 281-7212.

Sales are carried out Wednesday at 2 p.m.

Sheriff Sale Procedures

- All foreclosures undergo unique conditions. The Sheriff's conditions are as follows:
- The highest bidder to be the buyer.
- The purchaser should pay 20% of the purchase price in money, accredited check, cashier's check, or treasurer's check, at time of purchase with balance due in thirty days.
- If the buyer fails to comply with any of the conditions of sale, the residential or commercial property will be offered a second time, the former purchaser being held responsible for all losses and costs, and deposit to be kept by the Sheriff to be disbursed by court order.
- Sold based on constraints of record which are unknown to me and overdue taxes or evaluations and such state of facts as a precise survey would divulge.
- A deed to be provided to the buyer within 2 week from date of sale, with legal interest calculated on the balance due, from the 11th day after sale, until balance is paid.
- Immediately upon the conclusion of sale, ought to the successful bidder stop working to sign the conditions of sale and pay the 20% deposit as required herein, the Sheriff shall right away resell the residential or commercial property without additional public advertisement.
- Sheriff's charge and commissions are drawn from the struck off purchase price. All Sheriff's Sales are sold based on a first and 2nd mortgage, if any, and any Municipal, State or Federal liens, if any.

The lawyer representing the Plaintiff will have his own conditions of sale.

We strongly advise anyone who is not acquainted with Sheriff's Sale Procedures to look for legal guidance and to have a Title Search worked on the residential or commercial property before bidding on any residential or commercial property. The search will reveal if there are impressive liens, which the bidder would assume if he is the greatest bidder.

Sheriff's Sales are held as an open auction. The Attorney for the Plaintiff will begin the bidding at $100.00. The bidding will continue till the greatest quote is reached, and the highest bidder will be the purchaser. The Plaintiff's lawyer typically does not enable the bid to choose less than the Judgment quantity due his client. He will bid till he has reached his Upset Price. A Disturbed Price is the overall of the Judgment due, interest, attorney's costs, Sheriff's charges, marketing expenses and commissions. Once the lawyer has actually reached his Upset Price he might stop bidding and the greatest bidder, thereafter, will be the effective bidder.

The Sheriff's Sales are held on Wednesdays at 2 p.m. at:

Mercer County Sheriff's Office,
175 South Broad Street,
Trenton, New Jersey

Download the Sheriff's Real Estate Sales Information Bulletin

The Sheriff's Sales are promoted for four weeks every Tuesday in the Trenton Times and the Trentonian previous to sale. On the 4th and final week of marketing, the residential or commercial property is sold on that Wednesday if the sale has actually not been adjourned. The Plaintiff's lawyer may adjourn as many times as is needed for any reason.

If you are preparing to participate in a Sheriff's Sale, you ought to inspect the Sales Notices posted online website (click here) before or on sale date, to be sure the sale has actually not been adjourned, placed in Bankruptcy stay or cancelled.

This workplace will post a notice of sale on the residential or commercial property throughout the week of the very first marketing. Our workplace does not enter the facilities being cost any other factor. Until the sale is final, the accused (owner) has all rights and opportunities of personal privacy to his residential or commercial property. A bidder wanting to approach the owner to see the residential or commercial property before the sale, is advised that he is on his own.

The owner of the residential or commercial property might at anytime, prior to sale, attempt to save his home or residential or commercial property in a number of ways. He might attempt to reinstate his delinquent quantity owed, pay the judgment in full, obtain another loan, etc. He might also try to offer the residential or commercial property in order to pay the Judgment and at the exact same time make money from the proceeds. The offender has a 10 day Redemption Period after the sale during which time he might object to the sale through the courts or redeem the residential or commercial property. The bidder, in this case, would receive his 20 percent deposit back.

The Sheriff's sale deed will be prepared and all set in around 2 week after the sale. The balance due on the sale need to be paid no later than 1 month after sale, in accordance with the conditions of sale. It's the duty of the buyer to tape-record the deed in the Registrar of Deeds office. It is the sole obligation of the purchaser to notify the owner he has actually acquired the residential or commercial property and now holds the deed to the residential or commercial property. If the defendant does not voluntarily leave the residential or commercial property, the purchaser must use to the court for a Writ of Possession. Our workplace will serve the Writ upon the offender which will encourage him to vacate the premises within a particular amount of time. If the offender has not left by the mentioned tentative date, the Sheriff's Office will set a final date to have a moving van sent to the residential or commercial property and have the offender's individual possessions eliminated and saved in a location of safe keeping. The expenses of the moving and storage is the obligation of the purchaser. A Writ of Possession is not essential if the residential or commercial property is uninhabited before, during or after the sale.

Surplus Funds

Surplus Funds are specified as the amount of funds collected over the judgment quantity, costs, costs and commissions that are due to the plaintiff and Sheriff. Surplus funds are generated when a 3rd party buyer purchases the residential or commercial property for more than the upset quantity. The main function of surplus funds is to pay any junior lien holders. Any funds left over after these lien holders are paid would be offered to the defendant.

This can be ascertained by inspecting if the amount the residential or commercial property was cost is more than the amount of the judgment. An example of this would be - Sold for is $150,000 & judgment is $120,000, there would be a possibility that there is a surplus.

The Sheriff's Office sends any surplus funds to the New Jersey State Superior Court, c/o Trust Fund Unit, after the buyer has actually paid the balance of the purchase cost, charges are deducted, and all financial transactions are completed. This suggests that the funds are not easily offered immediately following the sale, as there are circumstances when the Trust Fund Unit might not receive these funds for approximately 2 months after the sale.

If you are the property owner with a foreclosure case in our office and you think there was a surplus from the sale of your home, you can contact our workplace or you can call the Trust Fund Unit straight at 609-292-4012.

More Information