Are you considering bidding in a tax sale in New Jersey? Doing so could allow you to save money on the purchase of property, but it also comes with several risks that you need to be aware of — namely, unexpected costs and hidden tax liens.
When navigating such a risky venture, you need an experienced professional on your side who can give you peace of mind. Turn to PureTitle for reliable tax sale services in New Jersey.
We help potential buyers of tax sale properties and their legal professionals smoothly and confidently purchase tax sale certificates. Whether you need tax sale insurance or in-depth title research, rely on our professionals to guide you.
Navigating New Jersey Tax Sales
The traditional real estate market has been overrun with buyers and sellers in recent years. If you’re looking to circumvent the market while gaining access to affordable property, a tax sale auction could be a potential route to take.
However, you shouldn’t enter a tax sale auction or tax lien purchase unawares. Completing a successful tax sale purchase involves in-depth knowledge of property titles, liens, and previous owner rights.
With PureTitle on your side, you can gain peace of mind about buying property through tax lien sales. We have helped thousands of clients understand and manage tax sales since our founding in 2018. We partner with a network of trustworthy title companies in New Jersey to provide clear guidance and resources to clients.
What Is a Tax Sale in New Jersey?
A tax sale happens when property owners fail to pay their property taxes by a designated deadline. This process varies by state.
New Jersey law mandates that all municipalities hold at least one tax sale each year. During New Jersey tax sales, buyers do not purchase the actual title to the delinquent property; rather, they purchase a tax sale certificate, which is a lien on the property. Bidders have an opportunity to bid down the interest rate on the tax certificate.
After you purchase a tax sale certificate, the original property owner will have two years to redeem the certificate. Otherwise, the property will be subject to foreclosure proceedings by a tax collections agency.
Buying a tax sale certificate at auction can be risky, as the property owner will have every opportunity to pay their delinquent taxes and accrued interest and reclaim the property. Enlisting our tax sale services in New Jersey can help you enter this transaction confidently and fully understand the risks and rewards involved.
Types of Tax Sales in New Jersey
In New Jersey, you can participate in two types of tax sales:
- A standard tax sale, which allows you to bid on the delinquent tax properties from the prior year
- An accelerated tax sale, which occurs at the end of the year and lets you bid on the delinquent tax properties from the current year
Only certain municipalities host accelerated tax sales in New Jersey. Our professionals can help you understand the types of tax sales in your municipality.
Our New Jersey Tax Sale Services
We offer several tax sale services in New Jersey to give you peace of mind when bidding on and purchasing a tax sale certificate.
- Guaranteed title insurance: We provide guaranteed title insurance to protect your investment when you gain the title to the property. Title insurance protects you against underlying issues with the title that you may have missed before purchasing it.
- Full title and property research: We complete comprehensive research into the title, including property research, insurable abstracts, interested party research, and complete Mennonite research.
- Title insurance packages: Our title insurance and property research come in an affordable package that lowers the costs associated with tax sales.
Rely on New Jersey’s Tax Sale Professionals
Before you enter a tax sale auction in New Jersey, call upon our professionals for assistance. We help bidders and legal professionals find a streamlined path to title insurance.
Contact PureTitle today at (504) 300-0520 to request a quote for tax sale services in New Jersey.
