Posted by ccreia on January 24, 2002 at 13:02:22:
On most courthouse sales you have to pay 5% down day of sale and the balance within 30 days. This applies to almost all of them. However if the atty handleing the sale chooses to do it different he can. Its all in the notice that is posted on the wall at the courthouse.
HMC
www.ccreia.org
Foreclosure question in NC - Posted by Mike in Nc
Posted by Mike in Nc on January 23, 2002 at 21:16:30:
Does anybody know how the foreclosure process works in NC,if your 0ffer gets accepted do you have to pay in full right there or 10% down with balance in 30 days or ?
Any help appreciated,
God Bless,
Mike in NC
Re: Foreclosure question in NC - Posted by Ronald * Starr(in No CA)
Posted by Ronald * Starr(in No CA) on January 24, 2002 at 19:58:09:
Mike–(NC)---------------
You can study up on the law by reading the state statutes.
I do not recommend foreclosures for beginners. They can be hugely profitable–if you know what you are doing. They are also very risky. You do not know how much you do not know.
Instead, I suggest that you invest more conventionally for two or three years and then consider whether you want to get into foreclosures. At that time you will have a knowledge base that might give you a fighting chance to be successful. Of the people I have seen who start in foreclosures, virtually all have quit real estate investing in about 3-6 months.
Good Investing**Ron Starr