Are there any differences between buying at a public auction versus buying from an assignment?
Though the actual certificate is the same, buying at auctions and getting a good deal can be difficult. 1. You might get outbid after spending so much time on research. 2. Many parcels listed in the tax sale list never get auctioned off. 3. Because New Jersey has 566 municipalities. This means there are 566 auctions scattered around the state, making it unfeasible to get to the auctions. 4. Many municipalities auction off just one parcel and many auctions are held simultaneously. 5. You will also have to wait a full two years before you can begin the foreclosure process. 6. If the tax lien certificate was bid down to 0% and the certificate gets redeemed in the first year, you make a small profit. When you buy through an assignment: 1. Certificates may already be earning 10% to 20% or more. 2. You are able to calmly buy in an unhurried and pressure-free atmosphere versus that of an auction. 3. In almost all cases comprehensive research yield results, because nearly all certificates list
