Strategic Tax Foreclosures
The City of Lenoir uses Kania Law Firm to process our tax foreclosures. The firm also works with the City to help market properties to interested buyers ahead of the auction date. To be put on the list of interested parties for future auctions, contact:
The Kania Law Firm
82 Patton Ave., Ste. 500, Asheville, NC 28801
(828) 252-8010 | kanialawfirm.com
Click the link below to view upcoming auctions. Search "Caldwell" in the search box to see local listings.
About Strategic Foreclosures
A Strategic Foreclosure is a tool most cities can use to recover tax dollars and put abandoned properties back on the market. Often, cities will invest tax dollars to clean up abandoned properties. If a property owner fails to pay for the cleanup, the City will add the charges as a lien on the property, just like unpaid taxes.
By foreclosing on abandoned properties, the City can create investment opportunities in a neighborhood and avoid increasing costs with never ending abatement efforts. When properties are owned and maintained, neighborhoods are stronger.
When a tax delinquent property is facing foreclosure, all parties that may have an ownership interest in the property must be served notice of the foreclosure action. Parties with ownership interest have an opportunity to pay their past due taxes to avoid foreclosure. Most of the abandoned properties that the City identifies for strategic foreclosure require extensive title work to identify the owners. Oftentimes, a Guardian Ad Litem will be appointed on behalf of unknown heirs. On average, it takes 12-18 months from the time the City initiates foreclosure action until the time the property is auctioned.
All sales are conducted on the front steps of the Caldwell County Court House at 216 Main St SW, Lenoir, NC . Sales start at 1:00 p.m., unless otherwise noted. Please note that a deposit (cash, bank check, cashier’s check, which must be made out to The Kania Law Firm, PA) of $750.00 or 5% of the highest bid, whichever is greater, is required immediately upon conclusion of the sale at the courthouse. In addition, the successful bidder will be required to pay the balance of the purchase price, as well as the recording fees and revenue stamps assessed by the County Register of Deeds, before the sale is confirmed.
State law provides that any owner, mortgage holder or defendant in a filed tax foreclosure proceeding can stop the foreclosure process at any time by redeeming the property. The redemption price is equal to the taxes, interest fees and costs of the foreclosure proceeding to the date of the redemption.
Bids are left open for upset bids ten days after sale date. If you are the highest bidder at the public auction and an upset bid is received within ten days, you will be notified by the Kania Law Firm that an upset bid has been received when your bid is returned. It is the responsibility of the bidder to check with the Clerk of Court to see whether your bid has been upset if you want the option to place a higher bid. Any upset bids must be made in person at the Caldwell County Clerk of Court.
UPSET BID PROCESS
Pursuant to G.S. 1-339.64, real property sales must remain open for a period of ten days after the filing of the report of sale to allow for the filing of an upset bid. The upset bid must exceed the reported sale price by 5%, but not less than a minimum increase amount of $750.00. The upset bid must be delivered to the Caldwell County Clerk of Court in the form of a certified bank check payable to the Caldwell County Clerk of Court, and must be filed with the Caldwell County Clerk of Court before the close of normal business hours on or before the tenth day after the filing of the report of sale. When the tenth day falls on a Saturday, Sunday, legal holiday, or other day where the office of the Clerk is not open for regular business, the deposit may be made on the first day afterward that the office is open for regular business. Questions concerning placing an upset bid should be directed to the Caldwell County Clerk of Superior Court, Civil Records Division at (828) 759-3500. Please inform them that you are calling regarding a tax foreclosure.