Copyright 2002-2018 David B Craig. All Rights Reserved.
ANYONE CONSIDERING BUYING PROPERTY AT A TAX FORECLOSURE SALE SHOULD BE AWARE THAT THERE IS A RISK. NO GUARANTEE OR WARRANTY IS GIVEN ON ANY OF THE TAX FORECLOSED PROPERTIES.
IT IS A CRIMINAL OFFENSE TO TRESPASS ON THE PROPERTY; DO NOT DISTURB ANY OCCUPANT(S).
Q. Do I have to register to attend the sale?
A. No. It is open to the public.
Q. Do I have to be present to place a bid at the sale and/or to place an upset bid with the Clerk of Court?
A. Yes, you must be present or you must have an agent to represent you. No over the phone bidding, email bidding etc.
Q. Can I purchase the property prior to the Tax Foreclosure auction?
A. No. We are only able to sale the property at Tax Foreclosure auction.
Q. Can I pay someone’s delinquent taxes and become the owner of the property?
A. No. Paying someone else’s taxes will not entitle you to any legal ownership to the property.
Q. What kind of information can you give me on the property?
A. We do not have any keys to or pictures of the property. We only have a legal description and a parcel identification number. It is up to the bidder to know exactly what they are bidding on.
Q. On what days/times are the sales held?
A. The sale dates/times are randomly selected, but generally they are scheduled to occur at 12:00 noon on Thursdays.
Q. Where are the sales conducted?
A. They are held at the Courthouse (117 Dick Street, Fayetteville, NC). The sale is held outside on the front steps. (Where the flags are located)
Q. How much is required as a deposit on the day of the sale?
A. We require a 20% (twenty percent) or $750.00 deposit, whichever is greater from the highest bidder. The deposit must be certified funds or cash. We allow about 15 minutes from the conclusion of the sale to go to the bank, if needed.
Q. Where do I go to place an upset bid?
A. You would go to the Civil Division in the Clerk’s office. They will need the docket number (xx-CVD-xxxx). The Clerks office will require a 5% or $750.00 whichever is greater.
Q. What happens to my deposit if someone upsets my bid?
A. Your deposit will be sent back to the person who is listed on the Report of Sale or Upset Bid sheet at the time you placed your bid. This will give you notification there has been an upset bid and allow you a chance to go to the Clerk’s office to place an upset bid if you’d like.
Q. Does the 10-day upset bid period include weekends and holidays?
A. Saturday, Sunday and/or holidays are counted; however, if Day 10 falls on the weekend or a holiday, the next business day shall be counted as Day 10.
Q. What happens to property when no one raises the County’s opening bid at a Tax Foreclosure Sale?
A. If no initial or upset bid is submitted on the Tax Foreclosure property, Cumberland County and/or the City of Fayetteville will be confirmed as the winning bidder and such property may be sold at a later date. (For a list of surplus properties please see the County of Cumberland, NC Tax Office webpage or contact the County's Attorney's Office)
Q. When is full/final payment expected?
A. We allow about 14 days from the date you are confirmed as the successful bidder to bring in the full amount of the funds to our office. These funds will have to be certified funds or cash.
Q. What happens if I cannot make the full/final payment?
A. We will file a motion and order to freeze your deposit and set aside the bids. A new sale date will be set and we will re-advertise the sale in the newspaper. After the sale date is completed and upset bid period is ended, we will file another motion and order to disburse your deposit on hold. The extra costs incurred due to your failure to make full payment, will be paid to our office with the deposit on hold. YOU MAY NOT RECEIVE YOUR DEPOSIT BACK.
Q. What kind of deed will I receive if I am the highest and final bidder at a Tax Foreclosure Sale?
A. We will issue a Commissioner’s Deed and a check for the revenue to you when all funds are received to our office. You will be responsible for taking the Commissioner’s Deed to the Register of Deeds office in Cumberland County, NC as well as the recording costs.
ALL SALES ARE FINAL. ALL TAX FORECLOSURE PROPERTIES ARE BEING SOLD AS IS, WITH ALL EXISTING CONDITIONS OR FAULTS. IT IS THE BUYER’S RESPONSIBILITY TO INVESTIGATE THE PROPERTY PRIOR TO BIDDING. IT IS A CRIMINAL OFFENSE TO TRESPASS ON THE PROPERTY; DO NOT DISTURB ANY OCCUPANT(S).
PROPERTIES WILL BE SOLD BY LEGAL DESCRIPTION AND THE COUNTY PARCEL IDENIFICATION NUMBER.
PURSURANT TO STATE LAW, WHEN BIDDING AT A PUBLIC SALE, BIDDERS BECOME PERSONALLY LIABLE AND RESPONSIBLE FOR THEIR BIDS.
WE WILL NOT OVERTURN A SALE AND REFUND THE PURCHASE PRICE OR DEPOSIT BECAUSE A BIDDER DID NOT KNOW WHAT THEY WERE BIDDING ON OR BECAUSE THE PROEPRTY IS NOT SUITED TO THE BIDDER’S SPECIFIC NEEDS FOR SUCH PROPERTY.
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