Sheriff's Foreclosure Sale

Pending judicial evaluation any sheriff's sale where the Community Wealth Preservation Program is being used will be adjourned 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 providing brand-new and greater chances for foreclosed-upon homeowners and their near relative, occupants, and other prospective owner-occupants - in addition to not-for-profit community development corporations - to buy 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 begin promptly at 2:00 pm.

( Please keep in mind 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 procedures have been completed.

Foreclosure sales are for real 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 permit for prospective bidders to go into and check 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 advertised Tuesday in the Trenton Times and the Trentonian. Advertisements appear when a week for four consecutive weeks prior to the preliminary date of sale.

In addition to newspaper ads, notices of sale are posted for public watching here on the internet site (click here) 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 offered. Persons interested in 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 quotes). An opening quote of $100 is bid on the preliminary by the plaintiff. All subsequent bids need to begin at $100 over the upset and continue at $1,000.00 increments. The residential or commercial property is sold to the greatest bidder.

The effective bidder, upon complete payment of the quote, will get a Sheriff's Deed. This deed does not give 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 purchaser does not finish 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 conducted by personal firms. Their phone number might be discovered in the yellow pages of the phone book. A charge 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 must be paid by licensed check, treasurer's check, or cash. It needs to be paid immediately 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 acquired is inhabited, it is your obligation to have the residents got rid of.

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

Rights of Defendants

For the most part, 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 going beyond twenty-eight days for each adjournment. In order to ask for an adjournment a defendant need to: 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, cash order or accredited look for EACH of his two adjournments. When it comes to an offender's lawyer we need your letter to state that you represent the accused'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 turned over to the General Treasury of the County of Mercer.

To speed your questions on a specific 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 do not hesitate 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 go through unique conditions. The Sheriff's conditions are as follows:
- The greatest bidder to be the purchaser.
- The purchaser should pay 20% of the purchase price in money, certified check, cashier's check, or treasurer's check, sometimes of purchase with balance due in thirty days.
- If the purchaser stops working to adhere to any of the conditions of sale, the residential or commercial property will be sold a 2nd time, the previous buyer being delegated all losses and costs, and deposit to be retained by the Sheriff to be paid out by court order.
- Sold based on limitations of record which are unknown to me and unsettled taxes or assessments and such state of truths as an accurate study would reveal.
- A deed to be delivered to the buyer within 14 days 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 effective bidder stop working to sign the conditions of sale and pay the 20% deposit as required herein, the Sheriff shall immediately resell the residential or commercial property without additional public ad.
- Sheriff's cost and commissions are drawn from the struck off purchase rate. All Sheriff's Sales are sold subject to a very first and second 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 strongly urge anyone who is not knowledgeable about Sheriff's Sale Procedures to seek legal suggestions 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 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 begin the bidding at $100.00. The bidding will continue till the highest quote is reached, and the highest bidder will be the purchaser. The Plaintiff's lawyer generally does not permit the quote to opt for less than the Judgment amount due his client. He will bid up until he has reached his Upset Price. A Distressed Price is the total of the Judgment due, interest, attorney's expenses, Sheriff's costs, advertising expenses and commissions. Once the lawyer has reached his Upset Price he may stop bidding and the greatest 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 four 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 lot of times as is required for any factor.

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

This office will publish a notification of sale on the residential or commercial property during the week of the very first advertising. Our workplace does not go into the properties being cost any other factor. Until the sale is last, the offender (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 recommended 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 numerous ways. He may attempt to restore his delinquent amount owed, pay the judgment in full, acquire another loan, etc. He may also try to sell the residential or commercial property in order to pay the Judgment and at the same time earnings from the profits. The offender has a 10 day Redemption Period after the sale throughout which time he might 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 around 2 week after the sale. The balance due on the sale need to be paid no behind 1 month after sale, in accordance with the conditions of sale. It's the obligation of the purchaser to tape the deed in the Registrar of Deeds workplace. It is the sole responsibility 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 accused does not willingly leave the residential or commercial property, the buyer needs to apply to the court for a Writ of Possession. Our office will serve the Writ upon the offender which will recommend him to abandon the facilities within a particular duration of time. If the accused has actually not abandoned 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 accused's personal valuables removed and kept 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 necessary 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 gathered over the judgment amount, charges, costs and commissions that are due to the complainant and Sheriff. Surplus funds are created when a third celebration purchaser 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 available to the accused.

This can be determined by examining if the amount 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 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 rate, fees are deducted, and all monetary transactions are completed. This implies that the funds are not readily offered right away following the sale, as there are circumstances when the Trust Fund Unit may not get these funds for up to 2 months after the sale.

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