§ 1-339.27A. Ordering resale of real property after sale or upset bid. - North Carolina Statutes

§ 1‑339.27A.  Orderingresale of real property after sale or upset bid.

Upon motion of an interestedperson filed within 10 days after a sale or upset bid and for good cause, thejudge or clerk having jurisdiction may order a resale of real property. If themotion is granted based on the inadequacy of the last bid, the procedure forthe resale is the same in every respect as is provided by this Article in thecase of an original public sale, and the last bidder is released from thebidder's obligations under the bid. If the motion is granted for any otherreason, the last bid becomes the opening bid at resale, and if there is no bidat resale other than the last bid, the person who made the last bid is thehighest bidder at resale. If the motion is denied, the 10‑day period forsubsequent upset bids begins upon the entry of the order. (2001‑271, s. 7.)