Tax Sale purchase? Caveat Emptor! Not as easy as it looks.

We are the New Jersey title insurance agent that does it all for you. For your next commercial real estate transaction, house purchase, mortgage refinance, reverse mortgage, or home equity loan, contact us, Vested Land Services LLC. We can help!

Tax sale purchase is not a walk in the park!

Tax sales are a way for towns and cities to collect tax monies from third parties.  It works like this- property owner fails to pay real estate taxes.  Municipality offers to "sell the property" (actually a lien on the property) at auction.

New Jersey has a statutory framework surrounding tax sales.  The framework is designed to protect owners as well as tax sale purchasers.  While returns can be high, buying a tax sale is not for the faint of heart because it requires stick-to-it-ness to be successful.  For instance, in New Jersey, you must hold your tax sale certificate for two years before you can start a foreclosure action.

So, here's a story from the south where a tax sale purchaser bought a property that wasn't what he thought it was!    Read it here. The villa that turned out to be a sliver of land.

For your real estate purchase or mortgage refinance or

if you have questions about what you see here, contact

Stephen M. Flatow, Esq.

Vested Land Services LLC

165 Passaic Avenue, Suite 101

Fairfield, NJ 07004

Tel 973-808-6130 - Fax 973-227-0645

E-mail sflatow@vested.com

@vestedland

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