From North Carolina General Statutes:
All sales are made subject to all liens and encumbrances which become effective prior to the judgment or execution lien under which the sale is being held. All bidders are responsible for doing their own research to determine the amount of liens, mortgages, encumbrances, or other property interest which may affect the property being sold.
- A purchaser can acquire only the interest the judgment debtor possessed in the property when the lien became effective.
- The purchaser then becomes responsible to pay the prior liens if he wishes to retain possession and ownership of the property.
- The rule of "caveat emptor," or let the buyer beware, applies to all purchasers of property at execution sales.
- All sales are sold "as is" with no warranty.
- Any real property sold under execution remains subject to all liens which became effective prior to the lien of the judgment pursuant to which the sale is held, in the same manner and to the same extent as if no such sale had been held.
- The Sheriff encourages prospective bidders to research real property at the register of deeds, county tax office, and clerk of court.
- Every sale shall be made for cash.
Tax Foreclosure Sales are sold in accordance with General Statutes 105-375.
All sales are subject to cancellation.
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