What is the G S 45 21 27 Page 145 21 27 Upset Bid On Real Property?

The G S 45 21 27 Page 145 21 27 Upset Bid On Real Property refers to a legal process designed for public auctions of real estate properties. This procedure allows parties to place bids that can lead to the purchase of property under specific conditions set by the governing laws. Understanding this process can help streamline your real estate transactions.

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STATE OF NORTH CAROLINA County File No. Name Of Plaintiff(s) Name Of Defendant(s) Telephone No. Telephone No. Signature Name And Address Of Upset Bidder Amount Of Last Previous Sale Or Upset Bid Last Day For Next Upset Bid Minimum Amount Of Next Upset Bid Amount Of Deposit For Next Minimum Upset Bid Deposit With Clerk (Greater Of $750 Or 5% Of Upset) See Note to Clerk below. Date Of Filing Of New Upset Bid Amount Of New Upset Bid Name And Address Of Attorney Or Agent For Upset Bidder In The General Court Of Justice District Superior Court Division NOTICE OF UPSET BID IN JUDICIAL SALE OR EXECUTION SALE NOTICE TO PERSON HOLDING THE SALE G.S. 1-339.25, -339.64 VERSUS The undersigned, as the upset bidder, or as the attorney or agent for the upset bidder named below, gives notice of the filing of an upset bid in the above-referenced matter. The filing of this bid establishes a new sales price, and the sale shall remain open for a period of 10 days after this notice of Upset Bid is filed for the filing of additional upset bids as provided by law. (NOTE: The upset bid, as set forth below, must exceed the reported sale price or last upset bid by a minimum of \ 5%, but in any event must represent a minimum increase of at least $750. ) You are notified that, in the above-referenced matter, the Clerk of Superior Court of the above-referenced county is in receipt of a deposit by cash, certified check or cashier’s check satisfactory to the Clerk, in an amount at least equal to the minimum required by G.S. 1-339.25 (judicial sales) or 1-339.64 (execution sales), together with the above timely-filed Notice of Upset Bid. YOU ARE DIRECTED TO MAIL WRITTEN NOTICE of the upset bid by first class mail to the last known address of the last prior bidder, the current record owner(s) of the property, and to all other persons or entities you may deem appropriate. NOTE TO CLERK: Deliver upset bid deposit along with completed form AOC-G-120 to the bookkeeper. NOTICE TO PERSON HOLDING SALE NOTICE OF UPSET BID $ $ $ $ $ Signature Date Deputy CSC Assistant CSC Clerk Of Superior Court AOC-CV-414, Rev. 4/15

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