Sheriff Sales

Foreclosures, Short Sales, Tax Foreclosures
1

I have some questions about sheriff sales here in NJ which I’m pretty sure is a judicial sales state. I did search first but I couldn’t find the answers I’m looking for.

House at the sheriff sale has a 100k first, a 50k second, and a 10k third; ARV~180k

The first is foreclosing.

I’ve read that the second & third will get wiped out as part of the process. Is that only true if nobody bids and the first takes the house back ? If I bid the 100k the first wants to satisfy them and nobody else bids up, thus making me the winning bidder, does the second and third still get wiped out ? or do I now have an obligation to the second and third because I bought the property and the clouded title (second & third) that comes along with it?

Thanks,
-unixkid

2

I’ve read that the second & third will get wiped out as part of the process.
CORRECT
If I bid the 100k the first wants to satisfy them and nobody else bids up, thus making me the winning bidder, does the second and third still get wiped out?
YES
or do I now have an obligation to the second and third because I bought the property
NO
and the clouded title (second & third) that comes along with it?
TITLE WILL BE CLEAR