I am trying to learn more about tax lien auctions in my area. Does anyone know what are the biggest Tax Auctions in NJ? It seems like since there are so many small boroughs that many of the sales only have a few properties for auction and with so much money chasing so few deals the premiums paid are really high. Also, does anyone know which boroughs offer OTC sales?
There was a very good podcast where @Ankit Duggal spoke about tax liens, especially in NJ. I don't know exactly which one but somewhere between #40 and 60.
For OTC, the best thing to do is call around to the larger towns to see if there is anything available for assignment. That being said, there is usually a reason why those liens have not been picked up. That doesn't mean depending on your particular goals (going for the property vs. wanting to get the lien redeemed and the interest) that getting an assignment from a municipality is necessarily "not good". There can be deals, but also alot of risk.
Right now, most of the sales are smaller in the summer. Look for the larger Towns and Cities in the Fall.
Biggest tax sale towns: Newark, Elizabeth, Paterson and Atlantic City
Thank you for the advice!
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