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?

Comments(4)

  • TheShortSalePro4th June, 2005

    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.....

  • kpyne2136th June, 2005

    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.

  • xavier200011th June, 2005

    How do you find out about NJ tax sales held by the local tax collector?

  • kpyne21312th June, 2005

    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.

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