Resale Propertys
I just went to my first tax lein auction and i asked for a resale list. Would it be better to buy off the resale list? And are the penalties the same as if i were to buy from auction, for instants the 6 month to 2 year redimtion period?
Premiums are paid when and if the bidding descends from the opening bid of 18% to 1%, then zero.
If you are the winning bidder and must pay a premium... the interest rate is zero.....
Thanks ShortSalePro for helping me with the premium payments. As a beginning investor I would probably not bid a premium anyways but I like to know why others might. I need to know these answers before I get involved.
How do you find out about NJ tax sales held by the local tax collector?
Each municipality handles differently. Your best bet is picking up the telephone, asking the Tax Collector the date/time of the next tax lien sale in her municipality. By law, each municipality must publish upcoming tax liens in a local newspaper, maybe 3 or 4 weeks before the actual sale. I live in Camden County, New Jersey and requested similar information . They were kind enough to e-mail me a list of the names/addresses/phone numbers for each Tax Collector in each Camden County municipality.