Sheriff's Foreclosure Sale

Pending judicial review any constable's sale where the Community Wealth Preservation Program is being used will be adjourned up until the last result 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 establishing a Community Wealth Preservation Program to promote equity and fairness in foreclosure sales by offering brand-new and higher chances for foreclosed-upon homeowners and their near relative, occupants, and other potential owner-occupants - in addition to not-for-profit neighborhood advancement corporations - to acquire and fund a foreclosed-upon home.

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

For further 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 note that the Sheriff's Sale List is updated on Mondays, Wednesdays, and Thursdays)

One of the functions of the Sheriff's Office is to carry out the sale of genuine residential or commercial property after foreclosure procedures have actually been finished.

Foreclosure sales are genuine residential or commercial property just; the Sheriff's Office does not know if any structures are on the residential or commercial property. Further, we can not allow for prospective bidders to get in and check any structure that may be found on the residential or commercial property to be offered.

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

In addition to paper advertisements, notifications of sale are posted for public watching here online website (click on this link) or outside the Sheriff's Office, on the very first floor, 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 thinking about residential or commercial properties can make their own lists from paper legal ads.

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

The effective 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 should please all impressive liens and encumbrances. If a purchaser does not finish the sale he can be held responsible for his deposit.

If you have an interest in a specific piece of residential or commercial property, we advise a title search before you in fact bid. Title searches are carried out by personal companies. Their phone number may be found 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 effective bidder on a piece of residential or commercial property, you are required to publish a deposit of 20% on the overall quote rate. It should be paid by accredited check, treasurer's check, or cash. It needs to be paid immediately following the finalizing of the Conditions of Sale.

The balance of the bid 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 duty to have the residents eliminated.

Deed recording fees need to be paid by the buyer 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 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 surpassing twenty-eight days for each adjournment. In order to request an adjournment an accused should: be named on the Writ of Execution, reveal ID confirming identity and send a letter requesting the adjournment with a fee of $28 in cash, money order or licensed look for EACH of his two adjournments. In the case of an accused's lawyer we require your letter to state that you represent the defendant's in addition to the reason for adjournment. We will also accept an attorney check.

All costs 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 query on a particular piece of residential or commercial property, it is practical if you refer to the residential or commercial property by its address or docket number, which appears in the legal advertisement. Please feel totally free to contact 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 purchaser.
- The purchaser needs to pay 20% of the purchase cost in cash, licensed check, cashier's check, or treasurer's check, sometimes 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 offered a 2nd time, the former buyer being held responsible for all losses and expenses, and deposit to be kept by the Sheriff to be paid out by court order.
- Sold subject to limitations of record which are unknown to me and unsettled taxes or evaluations and such state of truths as a precise study would disclose.
- A deed to be delivered to the buyer within 2 week from date of sale, with lawful interest calculated on the balance due, from the 11th day after sale, till balance is paid.
- Immediately upon the conclusion of sale, must the successful bidder fail 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 more public ad.
- Sheriff's charge and commissions are taken from the struck off purchase price. All Sheriff's Sales are sold 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 urge anyone who is not familiar 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 expose if there are outstanding liens, which the bidder would presume 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 until the greatest bid is reached, and the greatest bidder will be the purchaser. The Plaintiff's attorney typically does not allow the bid to opt for less than the Judgment amount due his client. He will bid up until he has actually reached his Upset Price. A Disturbed Price is the overall of the Judgment due, interest, lawyer's expenses, Sheriff's fees, marketing expenses and commissions. Once the attorney has reached his Upset Price he might stop bidding and the highest bidder, afterwards, will be the successful bidder.

The Sheriff's Sales are hung 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 fourth and final week of advertising, the residential or commercial property is offered on that Wednesday if the sale has actually not been adjourned. The Plaintiff's lawyer may adjourn as lot of times as is essential for any factor.

If you are preparing to go to a Constable's Sale, you need to check the Sales Notices published online site (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 advertising. Our workplace does not go into the premises being offered for any other factor. Until the sale is final, the defendant (owner) has all rights and benefits 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 recommended that he is on his own.

The owner of the residential or commercial property may at anytime, prior to sale, try to conserve his home or residential or commercial property in numerous methods. He might attempt to renew his delinquent amount owed, pay the judgment in complete, acquire another loan, and so on. He might likewise attempt to offer the residential or commercial property in order to pay the Judgment and at the same time benefit from the earnings. The offender has a 10 day Redemption Period after the sale throughout 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 14 days after the sale. The balance due on the sale must be paid no later than 30 days 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 workplace. It is the sole obligation of the buyer to alert the owner he has actually bought the residential or commercial property and now holds the deed to the residential or commercial property. If the offender does not voluntarily leave the residential or commercial property, the purchaser needs to use to the court for a Writ of Possession. Our workplace will serve the Writ upon the offender which will advise him to abandon the facilities within a specific amount of time. If the accused has not vacated by the stated 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 offender's individual possessions removed and kept in a location of safe keeping. The expenses of the moving and storage is the duty of the buyer. A Writ of Possession is not necessary if the residential or commercial property is vacant before, during or after the sale.

Surplus Funds

Surplus Funds are defined as the quantity of funds gathered over the judgment amount, costs, costs and commissions that are due to the plaintiff and Sheriff. Surplus funds are produced when a 3rd party purchaser purchases 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 offered to the offender.

This can be determined by inspecting if the quantity the residential or commercial property was cost 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 out 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, costs are subtracted, and all monetary deals are finalized. This indicates that the funds are not readily offered immediately following the sale, as there are instances when the Trust Fund Unit may not get these funds for up to 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 contact our workplace or you can contact the Trust Fund Unit directly at 609-292-4012.

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