One of the many functions of the Sheriff’s Office is to conduct the sale of real property after foreclosure proceedings have been initiated. All properties sold by auction at the Veterans Courthouse are advertised in the Star Ledger every Wednesday as well as a local newspaper for four (4) consecutive weeks prior to sale. In addition to the newspaper advertising, a list of properties scheduled for sale during the upcoming weeks is available on our Website. Essex County Foreclosure Auctions are held every Tuesday at 1:30 PM at:
Essex County Veterans Courthouse
50 West Market Street
Newark, New Jersey 07102.
FORECLOSURE ADJOURNMENTS: Defendants are entitled to two (2) statutory adjournments. Each adjournment is for a period of two (2) weeks and the fee for the adjournment is $28.00. Money orders and attorney checks are the only two (2) forms of payment method accepted, along with identification.
Adjournments could only be requested in person by the defendant, the defendant’s attorney or individual with Power of Attorney or Notarized Letter of Authorization. Adjournment requests are accepted up to the date of sale, however, the deadline is 12:00 PM on the sale date. Adjournments WILL NOT be accepted after that time.
CONDITIONS OF SALE: Each property is sold subject to restrictions of record which are unknown to the Sheriff at this time and subject to any unpaid taxes, water bills or assessments and such state of facts as an accurate survey and physical inspection of the premises may reveal.
The highest bidder at the sale shall be the PURCHASER. If any dispute arises as to who may be the successful bidder, the property will be resold immediately.
If you are the successful bidder on a piece of property, you are required to post a deposit of 20% of the total bid price in money order, certified check or bank check immediately after the close of that sale.
NO CASH, COMPANY, AGENCY OR PERSONAL CHECKS WILL BE ACCEPTED.
The balance of the bid is due and payable within 30 days from the date of sale. However, 2.50% interest will be added to the purchase price from the 11th day of the date of payment. This interest rate varies annually per state statute.
The Sheriff’s fees will be deducted from the Purchase Price, but the Purchaser is responsible for the payment of the Realty Transfer Tax.
The Purchaser will sign an Acknowledgment of Purchase and the Conditions of Sale. If the Purchaser fails to pay the balance due within 30 days, the Sheriff will re-sell the property at the earliest possible sale date. The former purchaser will be held responsible for all costs and expenses incurred for the prior sale.
FORECLOSURE SALE PROCESS: Sales of real property are ‘open type’ auction sales (not sealed bids). To determine what funds you may need as a deposit, you must decide what your highest bid will be. Checks should be made out to you. If you are the successful bidder, the check will be endorsed over to the Sheriff of Essex County. Your certified check, money order or cashier’s check for 20% must be presented at the time of registration between 1:00 PM – 1:30 PM. Registrations will not be accepted after 1:30 PM. Initially, a minimum bid of $100 dollars is made by the Plaintiff in order to start the bidding process; however, interested bidders are to bid $100.00 above the announced Upset Amount made by the Auctioneer and subsequent bids of $1,000.00 increments, thereafter.
There are times when the sale of a property is not conducted on the date advertised due to an adjournment, bankruptcy or settlement. It is recommended that you refer to our Website prior to attending our auction to determine the status of the case. In some cases, the property, even after the sale, can be redeemed by the original owner within the 10 day redemption period. In certain instances, the period of redemption may be extended due to a court hearing.
The successful bidder, upon Final Payment of the bid, will receive a Sheriff’s Deed within 7-10 business days. However, this deed does not give clear title to the property. To obtain a clear title, outstanding liens and encumbrances must be satisfied.
If the property purchased is occupied by the previous homeowner, it will be your lawful responsibility to obtain a WRIT OF POSSESSION. It is unlawful to harass, trespass or change locks without the filing of a Writ of Possession and submitting it to the Sheriff’s Office for execution and to scheduling a date of eviction.
For more information, please call:
Please note that the listings are valid as of the date indicated in the document. For information on foreclosure procedures and regulations.