Hi All,
I am planning to move to North Carolina. I would like to find out and learn more about the foreclosures in North Carolina. I am an investor from Utah, I have done a number of foreclosures here. I would like to learn about the North Carolina market from the people who have done it in the last year or so, what has their experience been and also how are the tax liens homes?
Also which is a good area to live with a family in North Carolina?
Regards,
Ashwini Jindal
I live in raleigh. Not a bad place to live at all but lots of investors STILL speculating here driving up the prices :banghead So to cash flow here you really really have to hunt hard. And just when you think you have something, it gets outbid by someone from NY or CA.
Something pretty unique about the foreclosure process in NC is the upset bid period in which you can bid up the property after it has already sold at the auction. So even if your the highest bidder at the auction, you give the out of state guys a chance to outbid you during the upset bid process which lasts until 10 days goes by and no upset bid has taken place.
Hey did I mention out of state investors are screwing up the market here yet? Well in case I forgot, let me just say again, out of state investors are screwing up the market for the real investors here.
According to Complete Guide to Real Estate Tax Liens and Foreclosure Deeds: Learn in 7 Days, there is no tax lien sales in North Carolina. There is tax deed sales in some counties and they call it “tax foreclosure sales” in most occassions. I usually pull foreclosure listings nationally from the normal banks off investingwithoutlosing.com.