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What bidding system is used at New Jerseys tax sale auctions?

auctions bidding NEW JERSEY sale system tax Used
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What bidding system is used at New Jerseys tax sale auctions?

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Bids begin with 18% yearly interest given to tax lien holders, however, auction attendees who are eager to become tax lien holders of a certain property may bid down from 18% until 0% and then even add a premium upon that to achieve the tax lien certificate.

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