Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Foreclosures
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 1 year ago,

User Stats

188
Posts
82
Votes
Benjamin Haberman
  • Real Estate Broker
  • Ocean View, NJ
82
Votes |
188
Posts

Buying a second lien in New Jersey at Sheriffs Sale

Benjamin Haberman
  • Real Estate Broker
  • Ocean View, NJ
Posted

Hello,

I am looking to purchase a second lien at a sheriffs sale in New Jersey. I researched the records and the first lien has also filed a lis pendens.  Original (first) lien was issued in 2003 for 30 years/set to mature in 2033 for $75 k. So knowing this, the $50 k second lien is appealing knowing that the first lien wont be that much and there is still about $100 k of equity in the property. I was just curious of a few things though and was hoping the BP community could help me out.

After bidding and winning on the second lien at the sheriffs sale, is it a simple process to get in touch with the first lien holder? I know right on the lis pendens doc there is contact info for the attorneys. But I wasnt sure if they were willing to talk to the public in general?

After I win the second lien do I technically have rights to the property at that point? 

Are there any attorneys out there that will walk investors like me through the process so I can thoroughly understand the process? I understand I can run title on the property prior to going to sheriffs sale, which I plan on doing. 

Thanks!

Loading replies...