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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] N.C. Twist To This Posted by SeanW on September 03, 2003 at 1:55 AM In Reply to: Realtor...Should I buy it? posted by Darin on August 31, 2003 at 7:33 AM N.C. has a 10 day redemtion period after the sale, for the homeowner to finally cure the default, or for other investors to step forward and offer 5% more than the winning bid. Then a new 10 day deadline is set. I have seen Realtors offer the "plus 5%", in order to punt the foreclosure deadline out for 10 more days. Then the house gets sold via warranty deed before the foreclosure can conclude. The risk, though, is that if the end buyer can't close on time... the Realtor will either forfeit his deposit, or have to buy the house! Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : N.C. has a 10 day redemtion period after the sale, for the homeowner to finally cure the default, or for other investors to step forward and offer 5% more than the winning bid. Then a new 10 day deadline is set. : I have seen Realtors offer the "plus 5%", in order to punt the foreclosure deadline out for 10 more days. Then the house gets sold via warranty deed before the foreclosure can conclude. : The risk, though, is that if the end buyer can't close on time... the Realtor will either forfeit his deposit, or have to buy the house! Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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