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Sheriff’s Foreclosure Sale

Pending judicial review any sheriff’s sale where the Community Wealth Preservation Program is being used will be adjourned until the last outcome of lawsuit (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 Community Wealth Preservation Program to promote equity and fairness in foreclosure sales by providing brand-new and greater opportunities for foreclosed-upon locals and their next of kin, renters, and other prospective owner-occupants – along with not-for-profit community advancement corporations – to buy and fund a foreclosed-upon home.

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

For more info, 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 without delay 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 carry out the sale of real residential or commercial property after foreclosure procedures have actually been finished.

Foreclosure sales are for real residential or commercial property just; the Sheriff’s Office does not understand if any structures are on the residential or commercial property. Further, we can not permit for potential bidders to get in and inspect any structure that may be located on the residential or commercial property to be offered.

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

In addition to paper advertisements, notices of sale are posted for public watching here on the internet 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 general distribution, of the residential or commercial properties to be offered. Persons interested in residential or commercial properties can make their own lists from newspaper legal advertisements.

Sales of residential or commercial property are “open-type” auction sales (no sealed quotes). An opening bid of $100 is bid on the preliminary by the complainant. All subsequent quotes should begin at $100 over the upset and continue at $1,000.00 increments. The residential or commercial property is sold to the highest bidder.

The effective bidder, upon complete payment of the bid, will receive a Sheriff’s Deed. This deed does not provide clear title to the residential or commercial property. In order to get clear title, one should please all outstanding liens and encumbrances. If a buyer does not finish the sale he can be held accountable for his deposit.

If you have an interest in a specific piece of residential or commercial property, we recommend a title search before you really bid. Title searches are conducted by private companies. Their telephone numbers may be found in the yellow pages of the telephone directory. A charge 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 required to publish a deposit of 20% on the overall bid rate. It should be paid by accredited check, treasurer’s check, or cash. It should be paid right away 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 bought is occupied, it is your obligation to have the occupants got rid of.

Deed recording charges must be paid by the buyer to the County Clerk’s workplace when the deed is taped.

Rights of Defendants

In most cases, the residential or commercial property, even after the sale, can be redeemed by the owner for a duration 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 an accused need to: be named on the Writ of Execution, show ID validating identity and submit a letter asking for the adjournment with a fee of $28 in money, money order or certified look for EACH of his two adjournments. In the case of an offender’s attorney we require your letter to state that you represent the offender’s in addition to the reason for adjournment. We will likewise accept an attorney check.

All charges and commissions that are collected by the Sheriff’s Office are turned over to the General Treasury of the County of Mercer.

To speed your questions on a particular piece of residential or commercial property, it is practical if you describe the residential or commercial property by its address or docket number, which appears in the legal ad. Please do not hesitate to call the Sheriff’s Sales Office at (609) 989-6102, 847-3965, or 281-7212.

Sales are conducted Wednesday at 2 p.m.

Sheriff Sale Procedures

– All foreclosures go through unique conditions. The Sheriff’s conditions are as follows:
– The greatest bidder to be the buyer.
– The buyer must pay 20% of the purchase cost in cash, licensed check, cashier’s check, or treasurer’s check, at time of purchase with balance due in thirty days.
– If the buyer stops working to comply with any of the conditions of sale, the residential or commercial property will be sold a 2nd time, the former buyer being held responsible for all losses and costs, and deposit to be kept by the Sheriff to be disbursed by court order.
– Sold subject to restrictions of record which are unidentified to me and unpaid taxes or assessments and such state of realities as a precise study would disclose.
– A deed to be delivered to the buyer within 2 week from date of sale, with legal interest computed on the balance due, from the 11th day after sale, until balance is paid.
– Immediately upon the conclusion of sale, needs to the effective bidder stop working to sign the conditions of sale and pay the 20% as needed herein, the Sheriff shall right away resell the residential or commercial property without more public advertisement.
– Sheriff’s charge and commissions are taken from the struck off purchase price. All Sheriff’s Sales are offered based on a very first and second 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 prompt anyone who is not knowledgeable about Sheriff’s Sale Procedures to seek legal guidance and to have a Title Search operated on the residential or commercial property before bidding on any residential or commercial property. The search will expose 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 start the bidding at $100.00. The bidding will continue up until the highest quote is reached, and the highest bidder will be the buyer. The Plaintiff’s attorney usually does not allow the quote to opt for less than the Judgment quantity due his client. He will bid until he has reached his Upset Price. A Disturbed Price is the total of the Judgment due, interest, attorney’s expenses, Sheriff’s costs, marketing expenses and commissions. Once the attorney has reached his Upset Price he might stop bidding and the greatest bidder, afterwards, will be the successful 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 advertised for 4 weeks every Tuesday in the Trenton Times and the Trentonian prior 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 often times as is required for any factor.

If you are preparing to participate in a Constable’s Sale, you should check the Sales Notices posted online website (click on this link) before or on sale date, to be sure the sale has not been adjourned, put in Bankruptcy stay or cancelled.

This office will post a notification of sale on the residential or commercial property throughout the week of the very first marketing. Our office does not get in the facilities being cost any other factor. Until the sale is final, the accused (owner) has all rights and opportunities of 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 recommended that he is on his own.

The owner of the residential or commercial property may at anytime, prior to sale, try to save his home or residential or commercial property in several ways. He may attempt to restore his delinquent amount owed, pay the judgment completely, get another loan, etc. He might likewise try to sell the residential or commercial property in order to pay the Judgment and at the same time make money from the proceeds. The accused has a 10 day Redemption Period after the sale during which time he might challenge the sale through the courts or redeem the residential or commercial property. The bidder, in this case, would get his 20 percent deposit back.

The Sheriff’s sale deed will be prepared and prepared in around 14 days after the sale. The balance due on the sale must be paid no later than thirty days after sale, in accordance with the conditions of sale. It’s the obligation of the buyer to record the deed in the Registrar of Deeds workplace. It is the sole obligation of the purchaser to inform the owner he has bought 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 needs to apply to the court for a Writ of Possession. Our office will serve the Writ upon the accused which will recommend him to vacate the properties within a particular time period. If the accused has not abandoned by the stated tentative date, the Sheriff’s Office will set a last date to have a moving van sent to the residential or commercial property and have the offender’s personal belongings removed and kept in a location of safe keeping. The costs of the moving and storage is the duty of the purchaser. A Writ of Possession is not necessary if the residential or commercial property is uninhabited before, throughout or after the sale.

Surplus Funds

Surplus Funds are defined as the quantity of funds gathered over the judgment amount, charges, expenses and commissions that are because of the plaintiff and Sheriff. Surplus funds are produced when a 3rd party purchaser buys the residential or commercial property for more than the upset amount. 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 readily available to the defendant.

This can be ascertained by examining if the quantity the residential or commercial property was cost is more than the quantity of the judgment. An example of this would be – Cost is $150,000 & judgment is $120,000, there would be a possibility that there is a surplus.

The Sheriff’s Office sends out any surplus funds to the New Jersey State Superior Court, c/o Trust Fund Unit, after the purchaser has actually paid the balance of the purchase rate, fees are subtracted, and all monetary transactions are finalized. This implies that the funds are not easily available immediately following the sale, as there are circumstances when the Trust Fund Unit may not get these funds for as much as 2 months after the sale.

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

More Information

– Foreclosure Sale Courtroom Conduct
– Sheriff’s Realty Sales Information Bulletin [PDF 58k]- Sheriff’s Foreclosure List

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