Premiums At The Old Bridge, NJ Sale

I went to the Old Bridge sale as an observer. This is the first sale I ever been to. Just about every lien was sold at a premium. Some at very high premiums(ie. 25,000 dollar premium for taxes of 2500 dollars) Can anyone explain the reasons for doing this?

Thanks

Comments(3)

  • ThemisN26th March, 2005

    Forgive me as im a newbie who has concentrated on other areas besides tax liens up until now.
    In NJ, any premium paid on a lien would have to be paid as well if the owner wanted to redeem, correct?
    Im guessing a bunch of those corporate types will be at the mahwah sale, but I might as well go and try to get one.

  • bargain7627th March, 2005

    In my humble opinion, I think you need a title search done on each parcel of land to see who actualy owns it.

    Your Mom may own a lot more than she thinks, or a lot less. A title search should tell the story and a good real estate attorney can advise you further.
    [addsig]

  • JohnMichael13th March, 2005

    If someone redeemed your tax lien, you are now out of the deal!
    [addsig]

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