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Wake North Carolina online Form 1024: What You Should Know
This notice shall state that an upstart bidder has entered an exclusive contract with the seller's last listed offer or from a prior sale or execution sale and is in an unanticipated upset bid situation. The prevailing bidder may not change the price or ask if the previous winning bidder is still interested in the sale. The notice has a 30-day window in which to provide notice to all persons entitled to have access to the court records related to the sale. To be eligible to bid, a person must be entitled to access to the court records at the time of sale and hold a valid, North Carolina certificate of title or other type of government issued document that is recognized by the court by which the sale was conducted. This notice has an initial and final deadline of 4:00 p.m. on the fifth day (6) after it is mailed. The person having the interest in the property has no further right to contest the entry of the prevailing bidder until 4:00 p.m. on the thirtieth day after the notice is mailed. This notice may be issued by the circuit or district court within the county in which the sale or execution sale occurs. This notice may also be issued by a regional office of the Department. The prevailing bidder may ask for an extension of up to three weeks from the original deadline. If no bidder claims the property within 60 days from the date of the sale, the purchaser shall use all reasonable efforts to remove the property for the purpose of disposal or a different use. A bidder or seller may not enter into any contract to enter into any contract on the day of the sale with any of the winning parties or with any other party that has an interest in the property being sold. The contract may not be entered into by a person that has received the property under a conditional sale order. A bidder or seller that makes use of the winning party's confidential information or property under a condition of anonymity is considered an unauthorized party to the auction. This includes a bidder or seller that agrees to enter into a contract which is not on the day of the auction. A bidder or seller may not participate in any of the winning parties' contracts. A bidder or seller may enter into a contract only if and to the extent that the bidder has obtained a written contract from each of the winning parties.
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