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REVISED 5/24/2006

 

MIDDLESEX COUNTY SHERIFF’S OFFICE

CONDITIONS OF SALE

 

Sales are held Wednesdays at 2:00 PM.

Please be advised that the following Conditions of Sale apply to every Sheriff’s sale conducted by the Middlesex County Sheriff’s Office. This is an open auction with competitive bidding. The Plaintiff will open the bidding at $100.00. Bidding will continue in $1,000.00 increments until the highest bid is reached. By bidding at this sale you agree to and are bound by these Conditions.

  1. The highest bidder, as determined by the Sheriff, shall be the purchaser.

  2. If any dispute arises at to who may be the highest bidder the property will be resold.

  3. The purchaser will pay twenty (20%) percent of the purchase price in cash, certified check or official bank check at the close of the sale and sign an acknowledgment of purchase. By participating in the sale, the purchaser agrees to be bound by the terms set forth on the acknowledgment of purchase if the purchaser is the successful bidder.

  4. If the purchaser does not comply with the type of deposit required the purchaser would be in default. There will be an immediate resale of the premises. This procedure will follow until a purchaser conforms to the type of deposit required.

  5. If the Plaintiff is the successful bidder his judgment, costs and interest will be credited against plaintiffs bid.

  6. The deed will be delivered at the Sheriff’s Office two weeks from the date of sale, when the balance of the purchase money will be required. Non-compliance with this condition will result in the accrual of interest.

  7. This sale is subject to statutory adjournments, sold subject to unpaid taxes, assessments, water rents, open of records if any, and such state of facts as an accurate survey of the premises might disclose.

  8. If the purchaser fails to comply with any of the conditions of sale the property will be sold a second time at a future date. The original purchaser being held responsible for all losses and expenses but receiving no benefit from such sale. The defaulting purchaser shall be responsible to the foreclosing plaintiff for any additional costs incurred by such default, including the difference between the amount bid by the defaulting bidder and the amount generated for the foreclosing plaintiff at the resale. This condition is in accordance with Chapter 50 of Title 2A of the New Jersey Statutes amending foreclosures of residential mortgages. The Statute allows the Sheriff to give two (2), two week adjournments, at His Discretion, to the Defendant. The Defendant may make application for these adjournments in the form of a written letter explaining why they need the adjournment along with a $28.00 money order or cash.

  9. Please note that in the event of an assignment of bid, the purchaser must provide the Sheriff the assignee’s name within seven (7) days from the date of sale. Failure to provide this information will result in preparation of a deed with the original purchaser’s name. If the original deed needs to be amended or replaced a cost of $77.00 will be charged for the preparation of a new deed.

  10. The balance of the deposit will be remitted to the court by the Sheriff for application by interested parties for turnover.

  11. There will be no disclosure of any upset figures by the plaintiff. All bidders must state their name and on behalf of whom they are bidding.

A property may be redeemed, without qualification or condition, from foreclosure by the mortgagor, at any time up to 10 days after the sale. Only the mortgagor, in person, can make the redemption. In order to redeem, the mortgagor, must pay all amounts due pursuant to the foreclosure order or judgment, without qualification or condition, by certified or bank check drawn on a New Jersey banking institution account, which shall include any additional amounts determined and adjudged to be due by supplemental or subsequent Court orders. The mortgagor will be responsible for showing valid photo identification to the Sheriff’s Office when remitting the payment of redemption.


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