This is a public service information bulletin. We hope this information is beneficial to those who would like to bid on properties but are unfamiliar with the conditions and manner of sale. Purchasing properties at a Sheriff’s Sale is an involved legal matter that brings with it certain risks. We recommend you consult with an attorney who specializes in these matters, as we cannot provide legal advice. Foreclosure sales are for real property only; the Sheriff’s Office does not know if any structures are on the property. Further, we cannot give permission for prospective bidders to enter and inspect any structure that may be located on the property to be sold.
After reading over the following information thoroughly, please feel free to contact the Sheriff’s Sales Division of the Office of the Sheriff at (856) 225-5531 or (856) 225-5551 if we can be of further assistance.
When and Where
Sheriff’s sales are held on the First and Third Wednesday of each month, excluding holidays, at 12:00 pm (noon). Sales will be conducted at :
CAMDEN CITY COUNCIL CHAMBERS
520 MARKET STREET
2ND FLOOR – CITY HALL
CAMDEN, NJ 08102
Notice of Sale/Advertisement
Newspaper – All properties sold at auction by the Camden County Sheriff’s Office are advertised on Tuesday in the Courier-Post and local weekly newspapers. Advertisements appear once a week for four consecutive weeks prior to the initial date of sale. Should the sale be adjourned for any reason after it has been advertised, it will not be re-advertised in the newspaper unless the case is completely closed and re-filed at a later date. As a result, you must independently keep track of any properties you are interested in purchasing. Please be advised that a sale can be adjourned, settled, cancelled, or stopped for several reasons.
Online – A list of foreclosure sales is also available here. Keep in mind the actual sales scheduled will change drastically as the date of sale draws closer. These changes will not necessarily be reflected on the website.
Sheriff’s Office – In addition to the newspaper/online advertisement, notices of sale are posted for public viewing at the Sheriff’s Office on the second floor, Rm. 200 of City Hall, 520 Market Street, Camden, New Jersey. This posting cannot be removed from the Sheriff’s Office.
Conditions of Sale
- Any person bidding upon the said premises shall be considered by the act of such bidding to have accepted these conditions of sale.
- The highest bidder shall be the purchaser and immediately upon the property being struck off to him shall sign his name to these conditions; should he refuse to do so, the Sheriff may sign the same as his agent.
- TWENTY PERCENT of the bid shall be paid by the purchaser in cash ($500 limit), certified or treasurer’s check as soon as the property is struck off to him.
- In cases where no confirmation is required by law, the deed shall be delivered to the purchaser thirty days from the date of sale, at the sales office of the Sheriff in City Hall, Room 200, 520 Market Street, Camden, New Jersey. In cases where the sale is required by law to be confirmed by the Court, the deed shall be delivered to the purchaser thirty days from the date of sale.
- The Sheriff is not required to send any notice to the purchaser. If the deed is ready for delivery at such time and place and the purchaser neglects to attend and make settlement at said time and place, the Sheriff may, at his option, either charge legal interest on the whole amount of the bid until settlement is made or treat such failure on the part of the purchaser as a breach of these conditions of sale.
- The purchaser shall be liable for payment of the purchase money, whether he attends and receives his deed at such time and place or not; in case he neglects to receive his deed and pay the balance of the purchase money as aforesaid the Sheriff will have the option of either readvertising the property and selling it again or of proceeding to compel the purchaser to complete his purchase. In the event of a resale, if property should produce a lesser sum than the former bid, interest and expenses, the purchaser will be held liable for the difference. If it should produce a larger sum than the former bid, interest and expenses, the purchaser shall not receive any benefit thereby.
- The bidding will be kept open after the property is struck off. In the event that the purchaser fails to comply with any of the above conditions of sale, the Sheriff, at his option, may again immediately put up the premises for sale, subject to these same conditions, and the original purchaser shall be held liable for any deficiency and shall not receive any benefits from any increase bid.
- The reference to “he” “his” or “him” relating to the purchaser shall be held to apply to one or more individuals, male or female, or a corporation or corporations.
- Sheriff’s fee and commissions are taken from the struck off purchase price. All Sheriff’s Sales are sold subject to a first mortgage, if any, and any Municipal, State or Federal liens, if any.
Sheriff’s conditions concerning the Community Wealth Preservation Program (CWPP):
- If the bidder invokes the Community Wealth Preservation Program (CWPP) as set forth by in N.J.S.A 2A: 50-64 he or she must provide all relevant documentation and 3.5% of the deposit in cash, certified check, or treasurer’s check as soon as the property is struck off to him.
- Notwithstanding, eligible participants in the CWPP may secure return of their forfeited deposit and shall not be liable for accrued interest if their failure to close on the sale of a property within the applicable 90-day period is due to the participant’s inability to close on a mortgage through no fault of their own, as defined under the CWPP, in which case the participant shall be refunded the deposit on the property and the participant shall be responsible only for the payment of accrued interest. The Sheriff will not determine a participant’s right to receive a refund of the deposit under the CWPP. The Sheriff will retain the deposit unless and until it receives written consent from the foreclosing plaintiff or a court order authorizing release of the deposit.
- The CWPP applies to residential properties and excludes those purchasing property for investment purposes.
- Any CWPP provisions not expressly set forth herein shall nonetheless be binding. Information regarding the CWPP is available online.
Rights of Defendants
Prior to the sale, the Sheriff has the discretionary right to make two adjournments of the sale for the defendant (at the defendant’s request), and no more, not exceeding four weeks for each adjournment. The fee for each adjournment is $28. This payment must be in the form of a certified check, treasurer’s check, money order, or cash. This request for adjournment must be made in writing and prepared by either the defendant or his/her attorney. Thereafter, the defendant may petition the court or the plaintiff to ask for further adjournments.
After the sale, the owner can redeem the property for a period of 10 consecutive days from the date of the sale. The owner can call for information, however a letter, in writing, is required to get the final payoff/redemption amount.
Surplus Funds
Surplus funds are defined as the amount of funds collected from a sale over the judgment amount, fees, costs, and commissions that are due to the plaintiff and Sheriff. Surplus funds are generated when a third-party purchaser buys the property for more than the upset amount. The main function of surplus funds is to pay any junior lien holders. Any funds left over after these lien holders are paid would be available to the defendant.
The amount of the surplus funds can be ascertained by checking if the amount the property was sold for is more than the amount of the judgment. For example, if a property is sold for $150,000, but the total sum of the judgment amount, fees, costs, and commissions due is only $120,000, there would be a possibility that there is a surplus.
The Sheriff’s Office sends any surplus funds to the Superior Court of New Jersey, c/o the Trust Fund Unit, after the purchaser has paid the balance of the purchase price, fees are deducted, and all financial transactions are finalized. This means that the surplus funds may not be readily available immediately following the sale, as there are instances when the Trust Fund Unit may not receive these funds for up to two months after the sale.
If you are the homeowner with a foreclosure case docketed in our office and you believe there was a surplus from the sale of your home, you can contact our office or you can contact the Trust Fund Unit directly at 609-292-4012.
To speed your inquiry on a specific piece of property, it is helpful if you refer to the property by its file number (ex., FR 000000) or plaintiff and defendant’s last names, all of which appear in the legal advertisement.
All fees and commissions that are collected by the Sheriff’s Office are turned over to the General Treasury of the County of Camden.