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08/13/2018

Auction Question

Q2 Self Storage - Jennifer Filliben

Auction Notice: In North Carolina is it required that you list the unit number and name of tenant in the publication ad that is posted 5 days prior to auction?

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5 Comments

Peter Allen on Thursday 08/16/2018 at 03:45PM wrote:

It looks like the lien law does not specify anything other than "shall publish notice of sale". Interesting to note also that if you're sure you'll get at least 3 independent bidders, the newspaper ad is no longer required. Some online auction platforms like Lockerfox (our product) show you how many unique bidders viewed the unit so you'll have documentation of meeting that criteria.

Kevin Leebrick on Friday 08/17/2018 at 08:50AM wrote:

Yes. You need to identify who you are putting up for auction and what unit is being sold.

Brittany Shipp on Tuesday 04/30/2019 at 12:07PM wrote:

In reading Chapter 44A Article 4 of the NC-GS it seems to me that a legal notice is only required if the occupant notifies the lienor of a desire for a hearing, is that not the case?

Kevin Leebrick on Tuesday 04/30/2019 at 12:16PM wrote:

Good Morning Brittany,

I'm not an attorney but...

You have to send out a Lien Notice, Notice of Sale, to the tenant when you begin the auction process. Once they get that they can then notify you that they are disputing the sale/requesting a hearing.

Brittany Shipp on Tuesday 04/30/2019 at 12:51PM wrote:

Ok, I just wanted to make sure I was understanding correctly. We have done the Lien Notice, Notice of Sale and Final Auction Notice. In reading the checklist it made it seem as though the Legal Notice was a requirement but I interpret that to only be required if the occupant appeals/requests a hearing

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