What can be expected? Do they start bidding at the tax owed or higher? Is there a general trend for how much the property will go for? I mean, is it usually really close to the estimated value of the property or is it generally way under? What's the protocol when you get to the auction?

Any insight on what to expect would be really appreciated.

5/18/2007 4:34:43 PM

where do they hold these auctions?

5/18/2007 4:40:45 PM

In the lobby of the courthouse Salisbury st. side.

5/18/2007 4:41:58 PM

usually at the house that's being auctioned

and i guess ^ in raleigh. I thought that's just where the posted the foreclosure properties

[Edited on May 18, 2007 at 4:42 PM. Reason : ]

5/18/2007 4:42:08 PM

Quote :

"Sale at Auction Sales at public auction are executed by the Sheriff’s Office approximately four months after a judgment is docketed. Notice of the sale is advertised in the News & Observer and posted at the entrance of the Wake County Courthouse twenty days prior to the auction date. The sale date information displayed on this web page is updated as it is received from the Sheriff’s Office. Sales are conducted at the Salisbury Street entrance of the Wake County Courthouse on the scheduled day of the auction, unless otherwise noted. The successful bidder at this sale is required to make a cash deposit of 10% of the bid. "

http://www.wakegov.com/tax/realestate/foreclosures.htm

5/18/2007 4:44:13 PM

fyi be REALLY careful about bidding on foreclosed homes.

There could be hidden leins on the property that will not be disclosed with purchase or easily found out about among other things.

If you want to bid on something, hire a representative to check out the property for you first.

5/18/2007 5:18:51 PM

Quote :

"There could be hidden leins on the property that will not be disclosed with purchase or easily found out about among other things. If you want to bid on something, hire a representative to check out the property for you first."

true

my dad is selling this repossessed house out in wakefield
apparently the house had 3 mortgages on it and some idiot ended up buying the third one for like $35k and didnt realize he was just buying the persons debt

5/18/2007 7:07:44 PM

Quote :

"Tax Id: 0196525 *Tax Lien Amount: $3,337.49 Deed Book: 11557 Page: 1122 Property Location: 101 Magnolia Woods Drive, Cary NC First Notice of Action: June 29, 2007 Judgment to be docketed with the Court: On or about July 29, 2007 Date of Execution Sale: To be announced"

http://msweb01.co.wake.nc.us/realestate/Account.asp?id=0196525

So how much could I steal this one for?

8/9/2007 10:29:33 AM