Sheriff's Foreclosure Sale

Pending judicial review any sheriff's sale where the Community Wealth Preservation Program is being made use of will be adjourned up until the last 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 establishing a Neighborhood Wealth Preservation Program to promote equity and fairness in foreclosure sales by providing new and higher opportunities for foreclosed-upon homeowners and their next of kin, occupants, and other prospective owner-occupants - together with not-for-profit community development corporations - to buy and finance 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 note 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 proceedings have been finished.

Foreclosure sales are for real 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 permit for potential bidders to enter and inspect any structure that might be located 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 when a week for 4 successive weeks prior to the preliminary date of sale.

In addition to paper advertisements, notices of sale are published for public viewing here on the WEB website (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 sold. Persons thinking about 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 bids). An opening bid of $100 is bid on the preliminary by the plaintiff. All subsequent quotes should begin 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 bid, will receive a Constable's Deed. This deed does not provide clear title to the residential or commercial property. In order to obtain clear title, one need to satisfy all outstanding liens and encumbrances. If a purchaser does not finish the sale he can be held liable 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 private firms. Their phone number may be found in the yellow pages of the telephone directory. A charge 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 needed to publish a deposit of 20% on the total bid rate. It should be paid by licensed check, treasurer's check, or money. It needs to be paid instantly 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 acquired is inhabited, it is your responsibility to have the residents eliminated.

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

Rights of Defendants

In the majority of 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 2 adjournments of the sale, and no more, not going beyond twenty-eight days for each adjournment. In order to request an adjournment an accused must: be called on the Writ of Execution, reveal ID verifying identity and submit a letter asking for the adjournment with a fee of $28 in money, money order or accredited look for EACH of his 2 adjournments. When it comes to an offender's lawyer we need your letter to state that you represent the defendant's in addition to the reason for adjournment. We will also accept a lawyer check.

All costs and commissions that are collected by the Sheriff's Office are committed 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 feel totally free 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 are subject to unique conditions. The Sheriff's conditions are as follows:
- The greatest bidder to be the purchaser.
- The buyer must pay 20% of the purchase rate in cash, accredited 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 sold a second time, the former buyer being delegated all losses and expenses, and deposit to be kept by the Sheriff to be disbursed by court order.
- Sold subject to limitations of record which are unidentified to me and unsettled taxes or assessments and such state of truths as a precise study would disclose.
- A deed to be delivered to the buyer within 14 days from date of sale, with legal interest determined 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 will instantly resell the residential or commercial property without additional public ad.
- Sheriff's fee and commissions are taken from the struck off purchase rate. 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 highly prompt anyone who is not knowledgeable about Sheriff's Sale Procedures to look for 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 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 start the bidding at $100.00. The bidding will continue up until the greatest bid is reached, and the greatest bidder will be the purchaser. The Plaintiff's attorney generally does not permit the quote to opt for less than the Judgment amount due his customer. He will bid up until he has reached his Upset Price. An Upset Price is the total of the Judgment due, interest, lawyer's costs, Sheriff's costs, marketing expenses and commissions. Once the lawyer has reached his Upset Price he might stop bidding and the greatest bidder, afterwards, 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 marketed for four weeks every Tuesday in the Trenton Times and the Trentonian previous to sale. On the 4th and last week of advertising, the residential or commercial property is sold on that Wednesday if the sale has not been adjourned. The Plaintiff's lawyer might adjourn as often times as is needed for any reason.

If you are preparing to attend a Constable's Sale, you should check the Sales Notices published on the WEB site (click here) before or on sale date, to be sure the sale has not been adjourned, put in Bankruptcy stay or cancelled.

This workplace will post a notice of sale on the residential or commercial property during the week of the very first advertising. Our office does not enter the facilities being sold for any other factor. Until the sale is last, the defendant (owner) has all rights and privileges 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 advised that he is on his own.

The owner of the residential or commercial property might at anytime, prior to sale, try to save his home or residential or commercial property in several ways. He may attempt to renew his delinquent amount owed, pay the judgment in full, obtain another loan, etc. He might also attempt to offer the residential or commercial property in order to pay the Judgment and at the very same time make money from the earnings. The defendant has a 10 day Redemption Period after the sale during which time he may object to 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 all set in roughly 14 days after the sale. The balance due on the sale must be paid no behind 30 days after sale, in accordance with the conditions of sale. It's the responsibility of the buyer to record the deed in the Registrar of Deeds office. It is the sole obligation of the buyer 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 offender does not voluntarily leave the residential or commercial property, the purchaser must apply to the court for a Writ of Possession. Our workplace will serve the Writ upon the accused which will recommend him to leave the premises within a specific time period. If the accused has not vacated by the stated 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 belongings eliminated and kept in a place of safe keeping. The costs of the moving and storage is the duty of the purchaser. A Writ of Possession is not needed if the residential or commercial property is vacant before, during or after the sale.

Surplus Funds

Surplus Funds are specified as the amount of funds gathered over the judgment amount, charges, costs and commissions that are because of the complainant and Sheriff. Surplus funds are produced when a 3rd party buyer purchases the residential or commercial property for more than the upset quantity. 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 established by examining if the amount the residential or commercial property was offered for 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 purchaser has actually paid the balance of the purchase rate, costs are subtracted, and all monetary transactions are finalized. This implies that the funds are not readily available immediately following the sale, as there are instances 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 office or you can get in touch with the Trust Fund Unit straight at 609-292-4012.

More Information