GENERAL INFORMATION

 

• PUBLIC NOTICE: The City of Trenton is conducting an online public auction of city-owned properties set forth herein.  All interested, potential bidders will be required to register for the online auction via http://www.trentonnj.org/auction or any other online service the City deems appropriate and will be required to make a deposit of one thousand ($1,000) dollars and pay any applicable servicing charge, which may be made online via credit card or electronic check or may be made via cash, money order or certified check at City Hall to the cashier, Department of Finance.  Registration shall be open to potential bidders two weeks prior to the auction.  Registration must be done online no later than 9:30 a.m. on the day of the auction if the potential bidder intends to make the one thousand ($1,000) dollar deposit via credit card or electronic check, and no later than 4:00 p.m. two days prior to the auction if the potential bidder intends to make the one thousand ($1,000) dollar deposit via cash, money order or certified check to the cashier at City Hall.  NO BIDDERS WILL BE PERMITTED TO REGISTER ONCE THE AUCTION HAS COMMENCED.  The City will conduct an online tutorial of the online auction process on Tuesday, December 1, 2020 at 10:00 am at https://tinyurl.com/TrentonAuctionInfo and Thursday, December 3, 2020 at 6 pm at https://tinyurl.com/TrentonAuctionInfoDecember3rd for all potential bidders interested in participating in the auction.

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• All properties are sold “AS IS/WHERE IS”.  It is not the responsibility of the City to determine if a bidder is qualified for a mortgage or other financing, or to provide financing for a purchase, however the City in its sole discretion by and through the Director of the Department of Housing and Economic Development, pursuant to N.J.S.A 40A:12-13(b), may offer a purchase money mortgage fully payable within five years from the date of the sale to a successful bidder who purchases a Property with the five-year “owner occupied” restriction or who purchases a Property which the successful bidder intends to live in for a minimum of five (5) years.  The City shall have the right to remove any property from the auction for any reason whatsoever until the time of the auction.  Photographs and other pertinent information related to the properties will be available online at the registration website.  The properties will be open for physical inspection on certain date(s) and time(s) prior to the auction set forth on the property list.  All potential bidders should visit the auction website at http://www.trentonnj.org/auction for any changes to the inspection dates and times or any changes to the properties listed for auction.  All potential bidders will be required to sign a Hold Harmless/Waiver and Release of Liability Agreement prior to inspecting the properties.  Please be advised you enter the properties AT YOUR OWN RISK.  Please be sure to bring a portable flashlight and wear heavy duty boots or shoes. Pursuant to CDC guidelines related to COVID-19, all potential bidders must also wear appropriate PPE (i.e. masks, face shields, etc. ) and practice social distancing at all times during the property inspections.

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• A person bidding on behalf of a business entity must prior to the online auction provide a letter authorizing the individual to act on behalf of the business entity.  Said letter may be delivered to the Department of Housing & Economic Development, 319 E. State Street, City Hall, Trenton, New Jersey 08608 or uploaded online via http://www.trentonnj.org/auction  No bidder may submit a bid on behalf of another except that a husband or wife may bid on behalf of each other. Under no circumstance will any individual be permitted to bid under another registered bidder’s bid number.  Failure to comply with this prohibition will result in the disqualification of the registered bidder from the auction and any properties awarded to such registered bidder will be re-bid at a subsequent auction and the contract of sale for such property or properties will be declared null and void. The City may, at its discretion, reject a bid by or on behalf of, or disqualify a successful bidder who: (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 a ten (10%) percent ownership stake in any property located in 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) owned or had more than a ten (10%) percent ownership stake in a property located in the City that was foreclosed upon in the last five (5) years.

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• All successful bidders are required to make a non-refundable deposit in the amount of ten (10%) percent of the successful bid in the form of credit card or electronic check if paid online via http://www.trentonnj.org/auction or via cash, money order or certified check only if paid at City Hall to the cashier, Department of Finance within 24 hours of the day of the auction and be required to execute a Contract of Sale with the City, embodying certain terms and conditions, subsequent to the closing of the auction.  The successful bidder will be notified by the City of the date and time to come to City Hall to execute the Contract of Sale.   Refunds of the one thousand ($1,000) dollar deposit will be made to bidders who do not successfully bid on any city-owned property.   No refund of the one thousand ($1,000) dollar deposit will be made to the successful bidder of one or more properties who fails to make the ten (10%) percent non-refundable deposit within 24 hours of the auction.  All successful bids may be accepted or all bids may be rejected by City Council pursuant to N.J.S.A 40A:12-13(b).

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• Except as otherwise specifically set forth herein, no employee, agent or officer of the City, other than the Director of the Department of Housing and Economic Development for good cause shown, has authority to waive, modify or amend any of the foregoing conditions.

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