Originally posted by @Iris Gallegos :
Hi everyone. I’m interested in learning more about the process of tax foreclosures, specifically within Mecklenburg County - Charlotte. Any insight into how this process works would be greatly appreciated. Thanks!
For learning purposes, check out the county tax foreclosure website, which is similar to other big counties like Wake county. Note that these properties are not mortgage (technically, deed of trust (D-T)) foreclosures. While the process is similar, a tax foreclosure and D-T foreclosure are really two different worlds. As you dig for a while, I think you will find out that most tax foreclosure sales involve property that isn't worth pursuing. Most will be unimproved land, most may be landlocked or unbuildable or otherwise undesirable from an economic perspective. That's not the case with the average D-T foreclosure, which generally is improved property with much higher economic value and potential for economic gain. See also NC tax foreclosure statute and note that the D-T power of sale is in a completely different chapter in state statute, with different processes, notices etc. Good luck in learning, and welcome to BP.