Sheriff's Foreclosure Sale

Pending judicial review any sheriff's sale where the Community Wealth Preservation Program is being utilized will be adjourned till the last outcome 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 offering brand-new and higher chances for foreclosed-upon residents and their next of kin, occupants, and other prospective owner-occupants - together with not-for-profit community 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 note that the Sheriff's Sale List is upgraded on Mondays, Wednesdays, and Thursdays)

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

Foreclosure sales are genuine 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 allow for potential bidders to enter and inspect any structure that may be found on the residential or commercial property to be sold.

All residential or commercial properties cost auction at the Sheriff's Office are marketed Tuesday in the Trenton Times and the Trentonian. Advertisements appear as soon as a week for four consecutive weeks prior to the preliminary date of sale.

In addition to paper advertisements, notifications of sale are published for public watching here on the internet site (click on this link) or outside the Sheriff's Office, on the very first flooring, 175 South Broad Street, Trenton, New Jersey.

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

Sales of residential or commercial property are "open-type" auction sales (no sealed bids). An opening quote of $100 is bid on the preliminary by the plaintiff. All subsequent quotes need to start at $100 over the upset and continue at $1,000.00 increments. The residential or commercial property is sold to the greatest bidder.

The successful bidder, upon complete payment of the quote, will get a Sheriff's Deed. This deed does not provide clear title to the residential or commercial property. In order to acquire clear title, one need to satisfy all impressive liens and encumbrances. If a buyer does not finish the sale he can be held accountable for his deposit.

If you are interested in a particular piece of residential or commercial property, we advise a title search before you actually bid. Title searches are conducted by private firms. Their phone number might be discovered in the yellow pages of the telephone directory site. A fee is charged. You might likewise 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 total quote rate. It must be paid by certified check, treasurer's check, or cash. It needs to be paid right away following the finalizing 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 inhabited, it is your duty to have the residents removed.

Deed recording fees must be paid by the purchaser to the County Clerk's office when the deed is 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 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 surpassing twenty-eight days for each adjournment. In order to ask for an adjournment an accused must: be called on the Writ of Execution, reveal ID validating identity and send a letter requesting the adjournment with a fee of $28 in money, money order or accredited look for EACH of his 2 adjournments. In the case of an offender's lawyer we need your letter to state that you represent the offender's in addition to the reason for adjournment. We will also accept an attorney check.

All fees and commissions that are gathered by the Sheriff's Office are turned over to the General Treasury of the County of Mercer.

To speed your query on a specific piece of residential or commercial property, it is useful 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 performed Wednesday at 2 p.m.

Sheriff Sale Procedures

- All foreclosures go through unique conditions. The Sheriff's conditions are as follows:
- The highest bidder to be the buyer.
- The buyer must pay 20% of the purchase cost in cash, certified check, cashier's check, or treasurer's check, sometimes of purchase with balance due in thirty days.
- If the buyer stops working to adhere to any of the conditions of sale, the residential or commercial property will be sold a 2nd time, the former buyer being delegated all losses and costs, and deposit to be kept by the Sheriff to be paid out by court order.
- Sold subject to restrictions of record which are unidentified to me and unpaid taxes or evaluations and such state of facts as a precise study would reveal.
- A deed to be provided 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, must the effective bidder fail to sign the conditions of sale and pay the 20% deposit as needed herein, the Sheriff shall instantly resell the residential or commercial property without further public ad.
- Sheriff's cost and commissions are drawn from the struck off purchase price. All Sheriff's Sales are offered based on a first and 2nd mortgage, if any, and any Municipal, State or Federal liens, if any.

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

We highly urge anybody who is not acquainted with Sheriff's Sale Procedures to seek legal recommendations 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 exceptional 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 up until the greatest bid is reached, and the greatest bidder will be the buyer. The Plaintiff's lawyer normally does not enable the bid to go for less than the Judgment amount due his customer. He will bid till he has reached his Upset Price. An Upset Price is the overall of the Judgment due, interest, lawyer's expenses, Sheriff's costs, marketing expenses and commissions. Once the attorney has actually reached his Upset Price he might stop bidding and the highest 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 4 weeks every Tuesday in the Trenton Times and the Trentonian prior to sale. On the fourth and last week of advertising, 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 lot of times as is necessary for any reason.

If you are planning to go to a Constable's Sale, you should inspect the Sales Notices posted on the internet website (click here) before or on sale date, to be sure the sale has actually not been adjourned, put in Bankruptcy stay or cancelled.

This workplace will publish a notice of sale on the residential or commercial property during the week of the very first marketing. Our workplace does not get in the premises being cost any other factor. Until the sale is last, the accused (owner) has all rights and advantages of personal privacy to his residential or commercial property. A bidder wishing to approach the owner to see the residential or commercial property before the sale, is encouraged that he is on his own.

The owner of the residential or commercial property might at anytime, prior to sale, attempt to conserve his home or residential or commercial property in a number of ways. He might attempt to renew his overdue quantity owed, pay the judgment in complete, obtain another loan, and so on. He might likewise try to sell the residential or commercial property in order to pay the Judgment and at the exact same time earnings from the earnings. The offender has a 10 day Redemption Period after the sale during which time he may challenge 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 should be paid no behind 30 days after sale, in accordance with the conditions of sale. It's the obligation of the purchaser to record the deed in the Registrar of Deeds workplace. It is the sole responsibility of the purchaser to inform the owner he has actually acquired the residential or commercial property and now holds the deed to the residential or commercial property. If the offender does not willingly leave the residential or commercial property, the buyer needs to use to the court for a Writ of Possession. Our workplace will serve the Writ upon the accused which will advise him to vacate the premises within a particular amount of time. If the defendant has actually not vacated by the specified tentative date, the Sheriff's Office will set a last date to have a moving van sent out to the residential or commercial property and have the accused's individual possessions eliminated and stored in a location of safe keeping. The expenses of the moving and storage is the duty 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, charges, costs and commissions that are because of the complainant and Sheriff. Surplus funds are produced when a 3rd party buyer buys the residential or commercial property for more than the upset amount. The primary function of surplus funds is to pay any junior lien holders. Any funds left over after these lien holders are paid would be available to the defendant.

This can be determined by checking if the quantity the residential or commercial property was offered for is more than the amount 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 any surplus funds to the New Jersey State Superior Court, c/o Trust Fund Unit, after the purchaser has paid the balance of the purchase cost, fees are subtracted, and all financial deals are finalized. This suggests that the funds are not easily available instantly following the sale, as there are circumstances when the Trust Fund Unit might not get these funds for as much as 2 months after the sale.

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

More Information