Before Proceeding With Any Legal Action
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All sales are carried out by RKS Law office on the front steps of the Hoke County Courthouse at 304 North Main Street, Raeford North Carolina.
The Tax Department takes tax foreclosures very seriously. Before continuing with any legal action, notification is offered to the taxpayer by phone, letters, notices, etc. The Tax Department only forecloses if there is no reaction from the taxpayer after action is taken or if the taxpayer does not follow through with an agreed-upon payment arrangement made with the Tax Department. A tax foreclosure can begin at any date after January 5th of the present year that is being collected.
Tax foreclosure sales might be processed by one of 2 treatments:
1. In-Rem Foreclosures: The Tax Department and the Hoke County Sheriff's Office will handle all elements of the foreclosure procedures. More specified information on this design of foreclosure can be discovered by examining the basic statute (G.S. § 105-375) 2. Mortgage Style: The County will refer the account to an outdoors attorney who will handle all aspects of the foreclosure proceeds. The tax liens on real residential or commercial property in North Carolina go through foreclosure in a manner comparable to bank foreclosures. More specified information on this design of foreclosure can be found by reviewing the basic statute (G.S. § 105-374).
Other practical information concerning Tax Foreclosures
ALL SALES ARE FINAL. BUYER BEWARE. WE OFFER THE PROPERTIES ON A 'WHERE IS' AND 'AS IS' BASIS. THE COUNTY MAKES NO REPRESENTATION OF WARRANTY, EXPRESS OR IMPLIED. IT IS THE BUYER'S RESPONSIBILITY TO INVESTIGATE THE RESIDENTIAL OR COMMERCIAL PROPERTY PRIOR TO BIDDING.
Anyone considering purchasing residential or commercial property at a tax foreclosure sale need to be conscious that there is a danger. The County does not guarantee or provide any guarantee. Pursuant to state law, when bidding at a public sale, bidders end up being personally liable and responsible for their quotes. It is up to the bidder to know exactly what they are bidding on. The County will not reverse a sale and refund the purchase rate or deposit because a bidder did not know what they were bidding on.
If a bidder stops working to follow through with their winning bid, the bidder will forfeit the deposit and the residential or commercial property will be resold. If the next quote is less than the original winning quote, a default judgment will be gone into versus the defaulting bidder for the loss. At the discretion of the Sheriff, defaulting bidders may be disallowed from making subsequent bids at any foreclosure sale performed by Hoke County.
Notice of Sale: All sales will be advertised in a that satisfies the requirements of general blood circulation as required, prior to the sale date. Additional information may be posted to the County's site to help with promoting the sale and opening bid.
Location on Sale: Foreclosure sales will be dealt with by a public auction on the front steps of the county courthouse arranged at the discretion of the appointed commissioner performing the sale. Sales will be made to the last and highest bidder and each residential or commercial property will be sold "as is" and without warranty. Each sale might undergo further impressive taxes and any local improvement assessments against the residential or commercial property not consisted of in the judgment.
Bidding on an auction residential or commercial property: You can bid on any residential or commercial property by attending the sale on the courthouse steps the day the sale is to occur. The cost for each residential or commercial property has an Approximated Opening Bid set prior to the date of the sale. This is the approximate amount needed for the opening bid. The individual performing the sale will reveal the real opening bid for each residential or commercial property at the time of sale. A deposit of five percent (5%) or $750.00 whichever is higher and the balance of the cost bid need to be paid at the end of the ten-day period and verification of the sale. Funds should be licensed funds made payable to the proper entity that managed the auctioned residential or commercial property. The Attorney or the Sheriff's workplace may, at its discretion, determine and permit an affordable time within which to deliver the successful bid amount, however under no scenarios will the time be extended to the day following the sale. Bids are exposed for upset quotes ten days after the sale date. You will be informed that an upset quote has been received. At that time you will have the choice to place a higher quote. Any upset bids should be made in individual at the Hoke County Clerk of Superior Court.
Upset Bid procedure: A person thinking about making an increased quote ought to go to the Office of the Clerk of Superior Court at the Hoke County Courthouse. The increased quote must surpass the present quote by five percent (5%) or $750.00 whichever is higher. To make an increased bid a deposit of 5 percent (5%) of the quantity of the new high bid, or a minimum of $750.00, must be delivered to the Clerk of Superior Court by cash or certified check or cashier's check satisfying to the Clerk.
Final Bid Process: After the time for sending an upset bid has expired, G.S. 1-339.67 attends to an order of verification to be entered. No sale might be consummated till validated by the Clerk of Superior Court. The last bidder will be contacted and plans will be made for full payment, which will be due in the kind of a licensed funds made payable to the proper entity that managed the auctioned residential or commercial property. Bids accepted at auction and disturbed throughout the 10 (10) day duration should be paid completely within 10 (10) days after the upset bid deadline.
Deed Preparation: Buyer ought to call the entity that carried out the sale.
How to stop the process: State law supplies that any owner, mortgage holder, or offender in a submitted tax foreclosure proceeding can stop the foreclosure process at any time by redeeming the residential or commercial property. The redemption cost amounts to the taxes, interest costs, and costs of the foreclosure continuing to the date of the redemption. If payment is made after the tax sale, but prior to the verification of the sale, that is, within ten days of the sale or any resale, the judgment will be pleased and the procedures stopped.
ALL PROPERTIES ARE SOLD IN "AS IS" CONDITION. INTERESTED PARTIES ARE ENCOURAGED TO RESEARCH ALL PROPERTIES THOROUGHLY PRIOR TO SALE AND BEFORE BIDDING ON A RESIDENTIAL OR COMMERCIAL PROPERTY.