15 OSPREY Drive

How the Auction Works

Every Cape May County foreclosure sale follows the rules set by the Cape May County Sheriff's Office:

How you bid

In person, open auction (no sealed bids): the plaintiff opens with a minimum $100 bid, then bids rise in increments of at least $1,000; the highest bidder wins and the Sheriff's decision is final.

Where

Old Historic Court House, 11 North Main Street (Route 9), Cape May Court House, NJ

When sales run

Every other Wednesday at 1:00 p.m.; the Sheriff may grant up to five 28-day adjournments, so dates move often

Due if you win

20% of the total bid immediately after the sale, in cash (up to $1,000) or certified check payable to "The Sheriff of Cape May County"; credit cards and personal checks are not accepted. Eligible buyers under the state's Community Wealth Preservation Program pay a 3.5% deposit instead.

Balance due

Balance within 30 calendar days of the sale, with lawful interest on the balance from the 11th day after the sale (Community Wealth Preservation Program buyers: 90 business days, interest from day 60).

After the sale

The owner can redeem for 10 calendar days after the sale in most cases; the property is sold subject to unpaid taxes, assessments, water and sewer liens and easements of record, and the Sheriff's deed does not by itself give clear title.