Posted by Courtney Lane on Thu, Sep 03, 2009 @ 05:22 PM
TAX DEED STATE PROFILE ~ NORTH CAROLINA
Tax Deed Sales: Yes, called Property Tax Foreclosure Sales
Over-the-Counter Tax Deed Sales: Yes, called County-Owned Surplus Properties. Bids are
allowed by mail. In some instances, the county will take less than the minimum bid if the property value is lower than the minimum bid and it can be justified.
Rating: Three Stars (***)
Sale Period : December and various other times.
Redemption Period: There is no extended right of redemption following the tax deed sale.
Bidding Process: The highest bidder is the winning bidder. There is a 10-day upset period after the sale during which time anyone can pay off the taxes and costs, or can trigger a resale by raising the bid by the greater of 5% of the previous bid or $750. If a raised bid is filed, the property will be advertised again and resold at public sale.
This is called an “upset bid.” Upset
bids are made at the Clerk of Court’s Office and must be made in person.
State-Specific Information: Tax collections and sales are the responsibility of the county tax collector or the municipal tax collector, as the case may be. Judicial foreclosure sales are also held in North Carolina.
North Carolina County Links: See North Carolina Tax Sales at http://www.tax-lien-certificates.com
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