A foreclosure auction occurred

Submitted by Joan McLaughlin from NC - 05/27/2011 - 4:34pm

A bid occurred by the person foreclosed upon. The person who made said bid did not fulfill payment. The person foreclosed upon filed suit claiming against the original seller and trustee handling contract agreement. That suit was dismissed by the court authority. Must another auction occur?

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Comments

Submitted by Michelle - 05/31/2011 - 4:21pm

Hi Joan,
In NC there is an "upset period" that runs 10 days from the last and highest bidder. If the deed was not recorded do to the pending legal action then it would likely have to go back to trustee sale. You would want to consult with an attorney in NC regarding the specifics of this case.

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