Before Proceeding With Any Legal Action
All sales are carried out by RKS Law Firm 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 proceeding with any legal action, notification is provided to the taxpayer by phone, letters, notifications, and so on. The Tax Department just 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 plan made with the Tax Department. A tax foreclosure can start at any date after January 5th of the present year that is being gathered.
Tax foreclosure sales may be processed by one of two treatments:
1. In-Rem Foreclosures: The Tax Department and the Hoke County Sheriff's Office will deal with all aspects of the foreclosure procedures. More specified information on this design of foreclosure can be found by examining the basic statute (G.S. § 105-375) 2. Mortgage Style: The County will refer the account to an outdoors lawyer who will handle all aspects of the foreclosure profits. The tax liens on genuine residential or commercial property in North Carolina are subject to foreclosure in a way similar to bank foreclosures. More defined info on this design of foreclosure can be found by examining the general statute (G.S. § 105-374).
Other valuable information concerning Tax Foreclosures
ALL SALES ARE FINAL. BUYER BEWARE. WE PROVIDE 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 buying residential or commercial property at a tax foreclosure sale ought to be aware that there is a threat. The County does not guarantee or supply any service warranty. Pursuant to state law, when bidding at a public sale, bidders become personally responsible and accountable for their quotes. It depends on the bidder to understand precisely what they are bidding on. The County will not overturn a sale and refund the purchase price or deposit because a bidder did not know what they were bidding on.
If a bidder stops working to follow through with their winning quote, the bidder will surrender the deposit and the residential or commercial property will be resold. If the next quote is less than the initial winning quote, a default judgment will be gotten in against the defaulting bidder for the loss. At the discretion of the Sheriff, defaulting bidders may be disallowed from making subsequent quotes at any foreclosure sale conducted by Hoke County.
Notice of Sale: All sales will be promoted in a newspaper that satisfies the requirements of basic flow as required, prior to the sale date. Additional information might be posted to the County's website to help with marketing the sale and opening bid.
Location on Sale: Foreclosure sales will be handled by a public auction on the front actions of the county court house arranged at the discretion of the assigned commissioner carrying out the sale. Sales will be made to the last and greatest bidder and each residential or commercial property will be offered "as is" and without warranty. Each sale might undergo further exceptional taxes and any regional improvement assessments versus the residential or commercial property not included in the judgment.
Bidding on an auction residential or commercial property: You can bid on any residential or commercial property by going to the sale on the court house steps the day the sale is to occur. The price 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 quote. 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 5 percent (5%) or $750.00 whichever is greater and the balance of the rate bid should be paid at the end of the ten-day period and confirmation 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, identify and permit an affordable 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 quotes 10 days after the sale date. You will be informed that an upset bid has actually been gotten. At that time you will have the choice to place a greater quote. Any upset quotes need to be made face to face at the Hoke County Clerk of Superior Court.
Upset Bid process: A person thinking about making an increased bid ought to go to the Office of the Clerk of Superior Court at the Hoke County Courthouse. The increased quote should exceed the existing quote by 5 percent (5%) or $750.00 whichever is higher. To make an increased quote a deposit of 5 percent (5%) of the amount of the brand-new high bid, or a minimum of $750.00, must be delivered to the Clerk of Superior Court by money or accredited check or cashier's check acceptable to the Clerk.
Final Bid Process: After the time for submitting an upset quote has actually expired, G.S. 1-339.67 attends to an order of verification to be entered. No sale may be consummated till verified by the Clerk of Superior Court. The final bidder will be contacted and plans will be made for full payment, which will be due in the form of a licensed funds made payable to the correct entity that dealt with the auctioned residential or commercial property. Bids accepted at auction and disturbed throughout the ten (10) day period need to be paid completely within 10 (10) days after the upset quote due date.
Deed Preparation: Buyer should contact the entity that conducted the sale.
How to stop the procedure: State law offers that any owner, holder, or defendant in a filed 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, however 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 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.