Does the State Sell Real Estate Holdings?
The Division of Property Management & Construction (DPM&C)
sells surplus state real property by Internet
Auction Sale of Real Property.
the State Sell Properties for Non-Payment of Taxes?
Usually not. This is a function that is done by the local
the State Handle Foreclosure Sales?
No, this is done at the County level by the County Sheriff's
Do I Find Out About State Properties for Sale?
The state maintains an Investor Data Base file of those
interested in purchasing state property. Interested purchasers
can complete an Investor
Profile Form (pdf 1.2mb) and mail it to the DPM&C. This
will place you on our mailing list and you will be notified
of properties available in the areas and of the type that
The state also advertises all sales of state owned property
in at least two newspapers prior to the auctions. Advertising
days are usually Sunday and Monday and ads are placed
in the Star Ledger as well as newspapers in the area where
the property is located.
Are the Terms of State Property Sales?
Properties are usually sold "as is, where is" with all
faults. Sales are NOT contingent upon financing. A deposit
of 10% of the sales price is usually required for all
auctions. All funds must be guaranteed funds in the form
of either cash, or a certified or cashier's check. If
bidders do not meet the requirements of the sales contract,
they could forfeit any deposits made.