NJ Tax Lien Forclosure Process Urgent Help
I own two tax liens which i could foreclose one this april and the second in june. Can anyone tell me what is the foreclosure process in NJ. is it too long and what is the typical cost associated with it. I heard it takes anywhere from 12 to 14 months in non contested forclosures. And what happens once i forclose does the property goes in to sheriff auction or do i get the opportunity to purchase the property at a borough price. Any help will greatly appreciated thank you
Not my area of expertice, however, once you successfully foreclose, the property is yours free and clear.
Your cost is the sum of whatever you paid for the tax lien, opportunity cost, and foreclosure cost.
The basketball court could be there illegally. Find out from the city if the road was abandoned or not. You should not be denied access to your property.
What are the properties worth? How much are you into them for?
The process can be simple, or protracted..... usually, once you initiate the foreclosure the Owner pays up.
where are the properties located?
both of them are in central new jersey
What town are they in? I grew up in Iselin NJ. Did you get any info on the assisability to the lot? locally I knew someone who bought a lot that was not buildable the owners of the property would invite the church over for picinics on the lot and before you knew it the neighbors were willing to pay $12,000 for the lot.
Might want to ask for properties that are, say, 2 to 4 years delinquent in taxes, but not yet up for forfeiture. Then focus your letter-writing on non-homesteaded, raw land, and/or out of state owners.