Before buying at county tax auction??

Question

I'm interested in buying land/lots at a county foreclosure sale in NC. I understand I should get a title search done before I even BID.

Regarding liens - is it true that all non-goverment liens (mortgages..creditors) are wiped clean if property goes to tax sales? As I understand it...the county files/advertises Notice of Default three times..or for a period of time, giving opportunity for creditors to step forth and basically assume the county taxes in arrears.

Government liens go with the previous owner or stay on the property?

Answer 1

Buying at a tax sale is one of the best ways to invest!  You are correct about everything you stated.  You become the owner out right on a Tax sale.  The main thing you are looking for is the condition of the property and you in case the access ability. It all depends what you are going to use the land for, what it will cost to bring in utilities and a road!

Good Luck

Answer 2

If it is a government forclosure then all you pay is taxes.