NC Tax Foreclosure Tracker

Minimum Upset Bid Calculator

Rule (N.C.G.S. § 1-339.25(a), applied to tax foreclosures by § 105-374(o)): an upset bid must exceed the reported sale price or the last upset bid by at least 5%, with a minimum increase of $750. The bidder must deposit with the Clerk of Superior Court at least 5% of the upset bid, but never less than $750 (cash, certified or cashier's check), by close of business on the 10th day after the report of sale or last upset bid was filed (rolls to the next day the clerk's office is open if that day is a weekend/holiday). Each new upset bid restarts the 10-day period. G.S. 1-339.25 · G.S. 105-374. Note: the deposit at the original auction is set by the commissioner/notice (e.g., Onslow notices require 20% cash; Duplin 20%; Brunswick 5%; New Hanover/Kania: 5% or $750, whichever is greater). Some clerks may require a compliance bond (1-339.25(b)). Not legal advice.