Sheriff Sale in NJ

[Claudia Fernandez]

Can anyone who has purchased a home at a sheriff sale share their experience? I am looking at the Sheriff Sale posts and I don't even know where to start. I see upset prices, are these the prices where the bidding starts? Any info at all would help. I am in NJ. 

[Naomi Spira]

The $450K is probably the amount the owner owed the Bank.

The sheriff does NOT list the upset prices.

I would say the most important things to look into before buying at sheriff sale in NJ:

1. tax liens

2. condo liens

3. primary lien that might survive the sale

4. oil tank or other contamination - need of remediation

5. know if property is occupied or vacant

6. ALWAYS go to property first

It is important to learn how to go to the books and records and do your own title search.

We once almost bid on a property that looked great online - but when we drove by - it was gone - burnt to a crisp!