Friedman Vartolo represented the Plaintiff in a foreclosure action, under docket number F-18456-14, which resulted in a Union County Sheriff’s auction on November 29, 2017. At the auction a winning bid of $238,000.00 was submitted by a third-party, and a deposit of twenty (20) percent of the winning bid was paid by the winning bidder to the Sheriff. Said deposit amounted to at least forty-seven thousand six hundred dollars ($47,600.00).
Upon learning that the winning bidder failed to remit the remaining balance within the requisite thirty (30) day period, our office aggressively moved to vacate the sale and retain the entire deposit as liquidated damages. Honorable Joseph P. Perfilio entered an order granting our motion on February 16, 2018. The full decision can be read here (Signed Order Vacating Sale and Awarding Liquidated Damages).
Written by Adam Friedman