Monmouth County Sheriff’s Sale Procedures
Schedule
Homes, businesses and properties in foreclosure are subject to auction pursuant to court order. Sheriff's Sales are held as an open auction every other Monday at 1:00 p.m. in the Monmouth County Sheriff's Office Public Safety Center, 2500 Kozloski Road, Freehold, NJ 07728. If a holiday occurs on a Monday, sales will take place on Tuesday at the same time and place.
Prior Liens
All sales are subject to a first mortgage, and also municipal, state or federal liens, if any. A title search will reveal this information and it is advised that this search be conducted prior to the purchase of any property as the purchaser must assume these liabilities. An attorney will be able to advise you as to title search procedures.
Inspections
Inspections of the property is not permitted. The defendants do, however, have the right to sell their home prior to the sale and any arrangements made with them will have to be done other than through our office. The property can be redeemed by the owner up to 10 days after the sale.
Newspaper Notices
All sales are published for four consecutive weeks prior to the originally scheduled sale date in two Monmouth County newspapers. They can also be found in the Star Ledger, usually the Wednesday edition. Or online at the Star Ledger website at http://www.nj.com/classifieds/notices/
Adjournments
Please be advised that a sale can be adjourned, settled, cancelled or bankrupt at any time and it is, therefore, advisable to log onto the Sheriff's Office website at www.mcsonj.org to determine whether or not a sale is still scheduled.
If you do not have access to the internet, an updated list is available for public view Monday through Friday, 8:30AM-4:30PM at the Monmouth County Sheriff's Office Public Safety Building, 2500 Kozloski Road, Freehold, NJ 07728. Please ask for the Foreclosure Sales List at the front desk.
You can contact our office via phone for sale information.
Minimum Deposit
At the time of the sale, the attorney for the Plaintiff will open the bidding at $1,000.00. Bidding will continue in $1,000.00 increments until the highest bid is reached. The successful bidder shall produce 20% of the bid as a deposit at the auction (cash with a limit of $1,000.00 or certified check) and the balance will be due in 30 days.
If a petition in bankruptcy is filed after the sale occurs, the purchaser's deposit will not be returned to the purchaser. The Sheriff will hold the deposit without interest until further directed by the Court or upon consent of counsel.
Default
If for any reason the purchaser refuses or is unable to pay the balance of the bid within 30 days after the sale, the property will be re-advertised and re-sold at the purchaser’s expense. Failure to pay the balance of the bid will result in deposit money being retained by the Sheriff’s Office to be released by the direction of a consent order as liquidated damages.
The purchaser may take possession of the deed after the passing of the 10 day redemption period and upon payment of the balance of the bid unless an objection to the sale is served upon the Sheriff prior to the delivery of the deed. In the event of a redemption, the purchaser will be refunded the full amount of the deposit. If the purchaser is in need of an extension of time to pay the balance of the bid, this additional time may be granted by the Plaintiff.
It is the purchaser’s responsibility to record the deed at the Monmouth County Clerk’s Office and pay any real estate transfer fees. It is also the responsibility of the purchaser to notify an occupant, if any, that the property has transferred title and that the premises must be vacated. If an occupant does not voluntarily comply with the request, the purchaser must apply to the Court for a Writ of Possession. Our office will serve the Writ upon the occupant which will advise him/her to vacate the premises by the stated date. The attorney for the purchaser must set a date to have a moving van sent to the property; remove the occupant’s personal belongings; and, store those belongings in a place of safe keeping.
Surplus Funds
If after the sale and satisfaction of the mortgage debt, including costs and expenses, there remains any surplus money, the money will be deposited into the Superior Court Trust Fund and any person claiming the surplus, or any part thereof, may file a motion pursuant to Court Rules 4:64-3 and 4:57-2 stating the nature and extent of that person's claims and asking for an order directing payment of the surplus money. The Sheriff or other person conducting the sale will have information regarding the surplus, if any.
If you are the homeowner in a foreclosure in our office and you believe there is surplus from the sale of your home you can contact our office or you can contact the Trust Fund Unit at 609-292-4012.
