© 2019 by the Trenton Neighborhood Restoration Campaign.

City of Trenton Property Auction Results

 

The City of Trenton strives to hold an auction of City-owned properties on a quarterly basis. The terms of the auction do change, so it is important for prospective bidders to always review the most recent Resolution approved by City Council.

GENERAL INFORMATION

 

  • Date and location: Auctions are to be held quarterly in the City Council chambers (319 E State St, 2nd floor). While it's free to observe, you must pre-register to bid on properties.

 

  • Properties: Auction properties are primarily residential buildings, although there can be some vacant lots and commercial buildings. While most buildings are vacant, the City will note when buildings are known to be tenant-occupied. Most properties require at least some rehabilitation. Some properties may be sold in groups.When available, information about the properties in the auction will be listed here as an Excel and PDF, as well as displayed on the Restoring Trenton map.

 

  • Inspecting the properties: Most, but not all, properties will be made available for interior inspection by City employees at scheduled times in advance of the auction. You will be required to sign a waiver of liability. Bring a flashlight and wear sturdy shoes appropriate for uncertain terrain.

 

  • Bidding: Starting bids generally range from $500 to $15,000. Starting bid prices are noted in the spreadsheet and on the map. If you are the winning bidder, you will be required to pay 10% of the bid price via cash or certified check on the day of the auction.

 

The City includes a "clawback" clause in the acquisition agreement. That means that if you acquire the property at auction, and fail to meet requirements, the City reserves the right to take it back without compensation.

 

Bidder Responsibilities:

 

  • All properties are sold in ‘AS IS’ condition. Any existing information regarding known environmental issues or structural conditions is available from the City. The buyer is responsible for any unknown issues or conditions as is typical for an “as is” sale.

  • We strongly urge bidders not to bid on properties that they have not personally inspected.

  • It is not the responsibility of the City to determine if bidders are qualified for mortgage or other financing, or to provide financing for a purchase of a property.

  • Before bidding on a property, bidders should be familiar with the requirements for rehabilitating property in the City of Trenton and the State of New Jersey.

  • As with any property, permits issued by the City and any municipal board approvals are required for development. It is the buyer’s responsibility to comply with applicable laws regarding development and related issues.

  • All successful bidders are required to make a non-refundable minimum deposit of 10 percent of the bid amount on the date of the auction in the form of cash or certified check.

  • Review most recent City Council Resolution for full terms and conditions of the public auction.

Frequntly Asked Questions About City Of Trenton Public Auctions:

Do I need to register in order to attend the auction?

No. You do not need to register if you simply want to attend and observe the auction.

 

 

Do I need to register if I want to bid on a property?

Yes. If you would like to bid on an auction property, you must register for the auction on www.eventbrite.com. You must register to bid no later than 11:30 p.m. on Tuesday, June 27, 2017. Please be advised that no one will be allowed to register for the auction after this time.

 

 

Are there ID requirements or an age limit to enter the auction?

To bid on an auction property, you must be at least 18 years of age with a proper identification including a valid driver's license, birth certificate or a valid U.S. passport.

 

 

What are my transport/parking options getting to the auction?

There is on-street, metered parking directly located around Trenton City Hall on Stockton Street, East State Street and Armory Drive. Please be sure to bring sufficient change to feed the meter while you are attending the auction.

 

Can I bring food and drinks to the auction?

No. Food and/or drinks are strictly prohibited in the City Council Chambers.

 

Where can I contact the organizer with any questions?

If you have additional questions that are not answered above, all information regarding the upcoming auction can be found on www.trentonnj.org/PropertyAuction.

If you have additional questions, please contact the auction hotline at (609) 815-2151 and leave a detailed message. A staff member will return your call in a timely fashion.

 

 

Is my registration/ticket transferrable?

No. These tickets can only be used for this auction and cannot be used at any future auctions. Further, your registration ticket cannot be transferred or assigned to any other individual.

 

Do I have to bring my printed ticket to the auction?

Yes. Each registration ticket contains a unique number that is used to verify the identity of each registered bidder.

 

 

What is the refund policy?

The $150 registration fee is NON-REFUNDABLE. If you are the successful bidder, the registration fee will be accreditted to the purchase of the property at closing.

 

Under what circumstances will an individual be excluded from bidding on a property?

Individuals may be excluded from bidding on an auciton property if this individual 1) has previously purchased City-owned properties and has not complied with the terms and conditions of sale or has failed to consummate the purchase of those properties; 2) has submitted a check that was returned for insufficient funds and has subsequently failed to tender payment and the returned check fee; 3) has previously purchased one or more City-owned properties and, at the time of the auction, has yet to receive a Certificate of Occupancy for any property so purchased in the time period required; 4) owns or has more than 10% ownership stake in any property located within the City upon which there exists a tax arrearage of more than 2 quarters; 5) owns property located within the City upon which there exists outstanding citations for housing code violations; or 6) has lost a property in the past due to in rem tax foreclosure.

 

 

If I am declared the winning bidder, do I own the property?

No. After being declared the winning bidder, such winning bidder does not own the property until such time as the Trenton City Council adopts a resolution authorizing the sale, and the winning bidder closes on the property.

 

 

How will I be contacted after the auction?

The City will contact you primarily via the email address you used to register for the auction. To that end, please be sure to include an email address you frequently check so that you will not miss any important information.

 

Can I bid under another registered bidder's registration number?

No. Under no circumstance will any individual be permitted to bid under another registered bidder’s bid number. However, a spouse may bid under the other spouse's bidder registration.