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1. Which subscription plan should I purchase? 2. Why is the subscription term 1 year? 3. When are the tax sales held? 4. How often are tax lien sales held? 5. Why are there past tax sale lists (rather than current/future tax sale lists)? 6. How much interest do I earn? 7. When are tax sale lists posted? 8. What information will be provided on the tax sale lists? 9. Can I foreclose right after I buy a tax lien? 10. How do I foreclose? 11. What are the requirements to bid at a tax sale? 12. What do I do if I have a question about the web site? |
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1. Which subscription plan should I purchase? A: NJtaxlieninvestor.com offers two types of subscriptions. For those desiring tax lien auction information only for specific areas, there is the County Plan which provides you with tax lien auction information for all of the municipalities within the county of your choice. For those desiring tax lien auction information for the entire state of New Jersey, there's the State Plan which provides you with tax lien auction information for all of the 566 municipalities in New Jersey. Back to top |
2. Why is the subscription term 1 year? A: Since there is no set time for when municipalities must hold tax lien auctions, they may take place at any time during the course of a year, and may vary from one year to the next. That's why all of our subscription plans are for one full year from the date you register so that you are able to get the tax lien auction information for every municipality you are interested in, in any given year. Regardless of the plan you choose, you will be able to (a) receive automatic email notifications of upcoming tax lien auctions and (b) view tax lien sales posted on our calendar of auctions, all at no additional charge. Back to top |
3. When are the tax sales held? A: Tax sales are held by each municipality throughout the year and can be held at any time. See FAQ No. 2 above for more information. Back to top |
4. How often are tax lien sales held? A: Generally, each municipality will hold one tax sale per year. However, if there are no delinquent tax payers for a given year, there would be no tax sale for that municipality in that year. On the other hand, some municipalities have more than one sale in a year. Back to top |
5. Why are there past tax sale lists (rather than current/future tax sale lists)? A: Until the current year's tax sale list is published, we leave the prior year's tax sale list on our site as a courtesy to our members. The prior year's tax sale list is useful to investors for the following reasons: (a) municipalities usually hold tax sales at around the same time each year, therefore, the best estimate of the next tax sale date is the prior year's date; and (b) the prior year's list provides a rough estimate of the number of liens sold in a given municipality. Back to top |
6. How much interest do I earn? A: If you purchase a tax lien, you acquire all the rights that the municipality had against the delinquent property owner including the right to charge and collect interest (up to 18% per year) on the amount you paid to acquire the tax lien. In addition to the interest, if the lien amount is greater than $200, the winning bidder is entitled to a surcharge of up to 6% (depending on the amount of lien purchased). Back to top |
7. When are tax sale lists posted? A: Tax sales are posted to the website as soon as possible after we obtain them. Although municipalities are required to publish their tax sale lists prior to a tax sale, the amount of advance notice may vary. Most tax sale lists are posted to the website approximately 2 - 4 weeks prior to the date of a sale; however, some may be posted earlier or later depending on availability and individual circumstances. To the extent any member is interested in a specific tax sale, we recommend that you contact that tax collector to ensure that you receive the tax sale list as much in advance of the tax sale as possible. Back to top |
8. What information will be provided on the tax sale lists? A: The information we provide for all the tax sale lists is the information that is publicly released by the individual municipalities. Most tax sale lists will contain the block, lot, owner name, property address and unpaid tax amount; however, some tax sales lists will not provide all of this information. Should you desire more information (or any excluded information), you may contact the tax collector's office directly or use any of the other resources available in print or on the internet. Back to top |
9. Can I foreclose right after I buy a tax lien? A: In addition to the right to collect interest (see FAQ No. 6 above), you may also acquire the right to foreclose on the underlying property in accordance with New Jersey law. Generally speaking, you do not have the right to foreclose immediately after you purchase a lien; however, your right to collect interest accrues immediately after your purchase. Your right to foreclose must mature under the law with the occurrence of certain events. As these events are statutorily driven, we recommend that you seek the advice of legal counsel knowledgeable in foreclosures. Back to top |
10. How do I foreclose? A: After you purchase a lien, and assuming your tax lien certificate is not redeemed (i.e., the lien amount and interest accrued have been paid) and you have met all of the statutory requirements for bringing a foreclosure action, you may have the right to foreclose on the underlying property. As the foreclosure process is statutorily driven and may be a complex one, we recommend that you seek the advice of legal counsel knowledgeable in foreclosures. Back to top |
11. What are the requirements to bid at a tax sale? A: Each tax sale has its own nuances. Therefore, if you wish to participate in any sale, you should contact the tax collector's office in advance of the sale and ask them for their detailed procedures and requirements. Back to top |
12. What do I do if I have a question about the web site? A: Read the FAQs. If you still have a question, send your question to customerservice@njtaxlieninvestor.com. Your questions will be addressed via email as soon as possible. We do not offer telephone support. It is of course the most expensive option for both you and us. To allow us to offer you the services that we can at our low prices, our support requests are dealt via our online customer service system. The system has been designed to allow us to deal with your support request in a prompt and timely manner. We aim to respond to support requests - and usually complete them - within 24 hours of their receipt. Please note this means an actual person dealing with your request, not just an automatic email response ! Back to top |
| *Any information provided by NJTaxlieninvestor.com should not be relied upon as legal, accounting, tax or other professional advice concerning any law, rule or regulation. We do not represent or warrant that any action or inaction based on such information will result in compliance with any law, regulation or other requirements. You are solely responsible for identifying and interpreting all laws, regulations or other requirements that may be applicable to your specific investment activities and situation. |
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