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Current as of January 01, 2023 | Updated by Findlaw Staff
(a) The person exercising the power of sale of real property, or that person's agent, may accept remote bids from bidders not physically present at the place of sale, as designated pursuant to G.S. 45-21.4. All bids accepted at the sale must be clearly announced to all participating bidders, whether physically present or not.
(b) Prior to accepting a remote bid, the person exercising the power of sale of real property, or that person's agent, shall collect all funds required to be paid by the winning bidder in accordance with G.S. 45-21.10.
(c) Any charges incurred by the person exercising the power of sale of real property, or that person's agent, in connection with remote bidding authorized under this section shall not be chargeable to the mortgagor or otherwise recoverable as costs and expenses of the foreclosure.
Cite this article: FindLaw.com - North Carolina General Statutes Chapter 45. Mortgages and Deeds of Trust § 45-21.25A. Bids placed remotely - last updated January 01, 2023 | https://codes.findlaw.com/nc/chapter-45-mortgages-and-deeds-of-trust/nc-gen-st-sect-45-21-25a/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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