1. NORTH CAROLINA
POWER OF SALE FORECLOSURE
PROCESS TIMELINE

2. THE TIME LINE
The Foreclosure Cycle
HTTP://MAITINLAW.TYLERCOINC.COM/

3. SUBSTITUTE TRUSTEE
• A substitute trustee is appointed to replace a trustee
under a deed of trust.
HTTP://MAITINLAW.TYLERCOINC.COM/

4. NOTICE OF HEARING
• Notice of Hearing commences the foreclosure action.
HTTP://MAITINLAW.TYLERCOINC.COM/

5. FORECLOSURE NOTICE
• Notice may be served personally (10 days) or posted (20
days)
HTTP://MAITINLAW.TYLERCOINC.COM/

6. NOTICE OF HEARING
Hearing before Clerk of Court
(10 days to appeal order)
C.Service of Process
D.Valid debt
E.Default
F.Right to foreclose
HTTP://MAITINLAW.TYLERCOINC.COM/

7. NOTICE OF SALE
Notice of Sale
•Posted for 20 days
•Served 20 days before sale (25 days for IRS)
•Published in newspaper for 2 consecutive weeks
HTTP://MAITINLAW.TYLERCOINC.COM/

8. SALE DAY
Sale Day
B.Opening bid by the lender; between 10am and 4pm
C.5% down in cash or certified funds
D.Could be postponed with notice, or canceled without
notice
E.Report of Sale
F.Sale not final until upset bid period expires (10 days)
HTTP://MAITINLAW.TYLERCOINC.COM/

9. FINAL REPORT
• Final Report filed and Notice of Foreclosure recorded.
HTTP://MAITINLAW.TYLERCOINC.COM/

10. HIGH BIDDER
DEFAULTS
• A high bidder who defaults on its bid is liable for fees
and costs of re-sale plus any loss to the lender.
HTTP://MAITINLAW.TYLERCOINC.COM/

11. AS IS PURCHASE
• A Trustee Deed conveys no warranty of title – AS IS
Purchase.
HTTP://MAITINLAW.TYLERCOINC.COM/

12. OUTSTANDING LIENS
• Title must be examined to avoid risks of outstanding
liens or potential defects in the foreclosure action.
HTTP://MAITINLAW.TYLERCOINC.COM/

13. Thank You
For more information contact the
Maitin Law Firm, PLLC
8396 Six Forks Road, Suite 201
Raleigh NC 27615 U.S.A.
Phone: 919-846-1057