Upset bids shall be submitted to the Clerk to the Board on the form provided by the Clerk. The minimum amount of the upset bid is determined by calculating 10% percent of the first $1,000 and adding 5% percent of the balance of the bid you plan to upset. After you determine what the upset bid will be, you must deposit 5% percent of the total bid with the Clerk.
For example, if the first bid is $3,000 and you want to upset – you determine 10% of $1,000 and 5% of $2,000 (3000-1000) which is $100 (10% of 1,000) and $100 (5% of $2,000) which means the increased amount must be $200 and therefore the minimum upset bid is $3,200.
Once an upset bid has been placed on a property, that bid will be re-advertised on the following Tuesday or Thursday of each week until there are no further upset bids.
Bidders will not be contacted by the Clerk's office when an upset bid is received or prior to the 10-day deadline. All bidders are advised to watch legal notices in the Tuesday or Thursday edition of the Asheville Citizen-Times or to contact the Clerk at 250-4105 if they have questions.
The amount of the upset bid is calculated the same as set forth above and the bid must be accompanied by a certified check or cash for 5% percent of the amount of the bid. This process shall continue until there are no further upset bids and at that time the final bid shall be advertised in the Asheville Citizen Times. Deposits of unsuccessful bidders shall be returned to the parties at the completion of the bidding process.
The successful bidder must present a certified check for the entire balance due within 90 days of the last day for receipt of upset bids. If the balance due is not paid within the 90-day period the total amount of the deposit is forfeited to the County and the offer is rejected. An extension of up to 45 days may be requested—approval of this extension is at the discretion of the Board of Commissioners.
Upon payment of the balance in full the matter shall be placed the agenda of the next available meeting of the Board of County Commissioners for a resolution authorizing the Chairman to execute a quitclaim deed to the successful bidder. The purchaser may pick up the deed from the Clerk after it has been executed. The purchaser shall be responsible for recording the deed and recording fees.