Notice of Upset Bid in Judicial Sale or Execution Sale Notice to Person Holding the Sale: This is an official form from the North Carolina Administration of the Courts - AOC, which complies with all applicable laws and statutes. USLF amends and updates the forms as is required by North Carolina statutes and law.
The Fayetteville North Carolina Notice of Upset Bid in Judicial Sale or Execution Sale Notice to Person Holding the Sale is a legal document that provides important information to the person holding the sale, typically a sheriff or other authorized representative. This notice is issued in situations where a property is being sold through a judicial sale or execution sale, commonly known as foreclosure sales. Here is a detailed description of the notice and its variations: 1. Judicial Sale Notice: In the case of a judicial sale, the notice serves as a formal communication to the person holding the sale, notifying them of any upset bids that have been submitted. An upset bid is a higher bid made by another party after the initial bid has been accepted. The purpose of this notice is to inform the seller that there is an opportunity for other interested parties to place a higher bid and potentially acquire the property. 2. Execution Sale Notice: In an execution sale, the notice is also sent to the person holding the sale, but with slight variations in its content. An execution sale typically occurs as a result of a court-ordered judgment, where the property is sold to satisfy a debt owed by the property owner. The notice is sent out to inform the seller that they must allow for upset bids during the sale process. The content of the notice may include the following keywords and key information: a. Property Details: The notice should contain the full legal description of the property, including the street address, lot number, and any relevant land or building description. It should also mention the county and state where the property is located, specifically Fayetteville, North Carolina. b. Sale Details: The notice will provide specific details about the sale, such as the date, time, and location of the sale. It will also state that the sale is subject to upset bids and provide instructions on how interested parties can participate in the bidding process. c. Upset Bid Process: The notice will outline the rules and procedures for submitting an upset bid. It may include important deadlines for submitting bids, the minimum increase required for an upset bid, and any additional requirements or documentation needed to participate. d. Contact Information: The notice will provide contact information for the person holding the sale, including their name, address, phone number, and email. This allows interested parties to reach out with any questions or to inquire about the bidding process. e. Legal Language: To ensure the notice is legally valid, it will include standard legal language, disclaimers, and references to relevant state statutes or laws governing foreclosure sales in Fayetteville, North Carolina. It's important to note that the specific content and format of the notice may vary depending on the local regulations and requirements set by the state of North Carolina and Cumberland County. Therefore, it is crucial to consult the applicable laws or seek legal advice to ensure compliance when creating or interpreting these notices.The Fayetteville North Carolina Notice of Upset Bid in Judicial Sale or Execution Sale Notice to Person Holding the Sale is a legal document that provides important information to the person holding the sale, typically a sheriff or other authorized representative. This notice is issued in situations where a property is being sold through a judicial sale or execution sale, commonly known as foreclosure sales. Here is a detailed description of the notice and its variations: 1. Judicial Sale Notice: In the case of a judicial sale, the notice serves as a formal communication to the person holding the sale, notifying them of any upset bids that have been submitted. An upset bid is a higher bid made by another party after the initial bid has been accepted. The purpose of this notice is to inform the seller that there is an opportunity for other interested parties to place a higher bid and potentially acquire the property. 2. Execution Sale Notice: In an execution sale, the notice is also sent to the person holding the sale, but with slight variations in its content. An execution sale typically occurs as a result of a court-ordered judgment, where the property is sold to satisfy a debt owed by the property owner. The notice is sent out to inform the seller that they must allow for upset bids during the sale process. The content of the notice may include the following keywords and key information: a. Property Details: The notice should contain the full legal description of the property, including the street address, lot number, and any relevant land or building description. It should also mention the county and state where the property is located, specifically Fayetteville, North Carolina. b. Sale Details: The notice will provide specific details about the sale, such as the date, time, and location of the sale. It will also state that the sale is subject to upset bids and provide instructions on how interested parties can participate in the bidding process. c. Upset Bid Process: The notice will outline the rules and procedures for submitting an upset bid. It may include important deadlines for submitting bids, the minimum increase required for an upset bid, and any additional requirements or documentation needed to participate. d. Contact Information: The notice will provide contact information for the person holding the sale, including their name, address, phone number, and email. This allows interested parties to reach out with any questions or to inquire about the bidding process. e. Legal Language: To ensure the notice is legally valid, it will include standard legal language, disclaimers, and references to relevant state statutes or laws governing foreclosure sales in Fayetteville, North Carolina. It's important to note that the specific content and format of the notice may vary depending on the local regulations and requirements set by the state of North Carolina and Cumberland County. Therefore, it is crucial to consult the applicable laws or seek legal advice to ensure compliance when creating or interpreting these notices.
