All sales are conducted by RKS Law practice on the front actions of the Hoke County Courthouse at 304 North Main Street, Raeford North Carolina.
The Tax Department takes tax foreclosures really seriously. Before proceeding with any legal action, notice is offered to the taxpayer by phone, letters, notices, and so on. The Tax Department only forecloses if there is no response 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 start at any date after January 5th of the current year that is being gathered.
Tax foreclosure sales may be processed by one of 2 procedures:
1. In-Rem Foreclosures: The Tax Department and the Hoke County Sheriff's Office will handle all elements of the foreclosure procedures. More defined information on this design of foreclosure can be discovered by evaluating the general statute (G.S. § 105-375) 2. Mortgage Style: The County will refer the account to an outdoors lawyer who will deal with all elements of the foreclosure earnings. The tax liens on genuine residential or commercial property in North Carolina are subject to foreclosure in a manner comparable to bank foreclosures. More specified details on this style of foreclosure can be found by evaluating the general statute (G.S. § 105-374).
Other helpful details regarding 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 thinking about purchasing residential or commercial property at a tax foreclosure sale ought to be aware that there is a risk. The County does not guarantee or provide any warranty. Pursuant to state law, when bidding at a public sale, bidders become personally accountable and accountable for their bids. It depends on the bidder to understand precisely what they are bidding on. The County will not reverse a sale and refund the purchase price or deposit due to the fact that a bidder did not understand what they were bidding on.
If a bidder fails to follow through with their winning quote, 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 gotten in versus the defaulting bidder for the loss. At the discretion of the Sheriff, defaulting bidders might be disallowed from making subsequent bids at any foreclosure sale conducted by Hoke County.
Notice of Sale: All sales will be advertised in a paper 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 court house arranged at the discretion of the appointed commissioner performing the sale. Sales will be made to the last and greatest bidder and each residential or commercial property will be sold "as is" and without warranty. Each sale might be subject to further outstanding taxes and any local improvement evaluations 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 participating in the sale on the courthouse steps the day the sale is to take location. The rate for each residential or commercial property has a Projected Opening Bid set prior to the date of the sale. This is the approximate amount needed for the opening bid. The person performing the sale will announce the real opening quote 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 quote should be paid at the end of the ten-day duration and confirmation of the sale. Funds should be accredited funds made payable to the proper entity that dealt with the auctioned residential or commercial property. The Attorney or the Sheriff's office may, at its discretion, identify and permit a sensible time within which to provide the effective bid amount, but under no circumstances will the time be extended to the day following the sale. Bids are left open for upset bids ten days after the sale date. You will be alerted that an upset bid has been gotten. At that time you will have the choice to put a higher quote. Any upset bids should be made face to face at the Hoke County Clerk of Superior Court.
Upset Bid procedure: A person thinking about making an increased bid should go to the Office of the Clerk of Superior Court at the Hoke County Courthouse. The increased quote must exceed the existing bid by 5 percent (5%) or $750.00 whichever is higher. To make an increased bid a deposit of 5 percent (5%) of the quantity of the brand-new high bid, or a minimum of $750.00, must be provided to the Clerk of Superior Court by money or licensed check or cashier's check satisfying to the Clerk.
Final Bid Process: After the time for submitting an upset bid has expired, G.S. 1-339.67 attends to an order of confirmation to be gone into. No sale might be consummated till verified by the Clerk of Superior Court. The last bidder will be contacted and plans will be made for complete payment, which will be due in the form of a licensed funds made payable to the proper entity that dealt with the auctioned residential or commercial property. Bids accepted at auction and distressed throughout the ten (10) day duration should be paid completely within 10 (10) days after the upset bid due date.
Deed Preparation: Buyer ought to contact the entity that conducted the sale.
How to stop the process: State law provides that any owner, mortgage holder, or accused in a filed tax foreclosure proceeding can stop the foreclosure process at any time by redeeming the residential or commercial property. The redemption price is equal to the taxes, interest costs, and expenses of the foreclosure proceeding 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 satisfied and the proceedings halted.
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.
