What happens if no one bids on the property at the foreclosure sale?
The County of Durham will enter a minimum starting bid at each property tax foreclosure sale, while the City of Durham will enter a minimum starting bid for each property at an assessment foreclosure sale. The minimum bid is equal to all the taxes and/or assessments, interest, fees and costs of the judgment of sale, as well as the additional costs and fees of the sale itself. If no one bids, then the sale is usually postponed to the next sale date to see if other bidders might come forward at a later time. If, at the postponed sale, there are still no bidders, then the County (or City’s) minimum bid will be the successful bid. If no upset bids are received (see above), then the sale will be confirmed to the County of Durham (for tax foreclosure cases) or the City of Durham (for assessment foreclosure cases), and a deed will be issued to the County or City of Durham.
