How do I find out the final sale amount and all fees that were added before the auction? – North Carolina

Short Answer

In North Carolina, the best place to confirm the final sale amount and the fees/costs charged in connection with a power-of-sale foreclosure is the Clerk of Superior Court file for the foreclosure. After the sale, the person who conducted the sale must file a final report and account showing receipts and disbursements, and the clerk audits and records it. That final account typically shows the winning bid (including a credit bid) and the sale-related costs that were paid from the proceeds.

Understanding the Problem

In a North Carolina foreclosure by power of sale, can the final sale amount and the full list of fees and costs added before the auction be confirmed from the official court record, and what filing shows the final numbers after the sale closes? When a lender (or a related entity) makes a credit bid that appears to match the debt, the key issue becomes identifying what amounts were treated as sale expenses, taxes/assessments, and the secured debt, and whether anything remained as surplus. The question focuses on locating the official “final” accounting rather than estimating numbers from notices or preliminary paperwork.

Apply the Law

North Carolina law requires the person who conducts a power-of-sale foreclosure to account for the money received and how it was paid out. The proceeds of the sale are applied in a set order (sale costs first, then certain taxes/assessments if applicable, then the secured debt), and only after that would any surplus exist. After the sale proceeds are received, the person who held the sale must file a final report and account with the Clerk of Superior Court in the county where the sale occurred, and the clerk audits and records that account.

Key Requirements

Final report and account is filed: After the sale proceeds are received, the person who held the sale must file a final report and account showing receipts and disbursements, and related proof of notices and service.
Proceeds are applied in a statutory order: Sale costs and expenses are paid first, then certain taxes/assessments (depending on how the sale was noticed), then the secured obligation.
Surplus (if any) is handled through the clerk: If money remains after the required payments, it is paid to the person entitled to it, or paid into the clerk’s office when entitlement is unclear.

What the Statutes Say

N.C. Gen. Stat. § 45-21.33 (Final report of sale of real property) – Requires a final report and account of receipts and disbursements to be filed with the clerk within 30 days after receipt of the proceeds, and the clerk audits and records it.
N.C. Gen. Stat. § 45-21.31 (Disposition of proceeds of sale; payment of surplus to clerk) – Sets the order for applying sale proceeds (sale expenses, certain taxes/assessments, then the secured debt) and explains how any surplus is paid out or deposited with the clerk.
N.C. Gen. Stat. § 45-21.32 (Special proceeding to determine ownership of surplus) – Allows a special proceeding before the clerk to determine who is entitled to surplus funds paid into the clerk’s office.

Analysis

Apply the Rule to the Facts: Here, the foreclosure auction involved a credit bid that appears to match what was owed, and the sale report suggests no surplus funds exist. Under North Carolina’s proceeds-distribution rules, that outcome usually means the bid amount (cash or credit) was fully absorbed by sale expenses and the secured debt (and possibly taxes/assessments if they were paid from proceeds). The most reliable way to confirm the final sale amount and each fee/cost actually charged is to review the filed final report and account that lists receipts and disbursements and is audited and recorded by the Clerk of Superior Court.

Process & Timing

Who files: The person who held the foreclosure sale (often the trustee). Where: The Office of the Clerk of Superior Court in the North Carolina county where the sale was held. What: A final report and account of receipts and disbursements, plus required supporting filings (copies of posted/published notices and proof of service/notice as required). When: Generally, within 30 days after receipt of the sale proceeds.
How to get the numbers: Request to view (or obtain copies of) the foreclosure file and look for the recorded final account. That document typically itemizes the sale price/receipts and the disbursements (for example, sale expenses and other amounts paid from proceeds).
What “final sale amount” means in practice: Confirm the winning bid shown in the file and compare it to the disbursement lines. If the winning bid was a credit bid, the accounting should still reflect how the transaction was credited and what expenses were treated as paid from the proceeds.

Exceptions & Pitfalls

Confusing “amount owed” with “sale proceeds applied”: The debt payoff and the sale expenses are separate line items in the statutory order of distribution, and the final account is the best place to see what was actually charged and applied.
Assuming the notice of sale lists all final fees: Some costs are confirmed after the sale (and the clerk’s audit/recording fee is treated as a sale expense), so the final account is often more complete than pre-sale paperwork.
Missing the right document in the file: The key document is the final report and account of receipts and disbursements. A sale report or bid sheet may not show the full breakdown of disbursements.
Surplus procedure differs depending on whether funds were deposited: If any surplus was paid into the clerk’s office because entitlement was unclear, a separate process may be needed to determine who receives it.

Conclusion

In North Carolina, the most reliable way to confirm the final sale amount and the fees/costs added in connection with a foreclosure auction is to review the foreclosure file at the Clerk of Superior Court and locate the recorded final report and account showing receipts and disbursements. Sale proceeds are applied first to sale expenses, then certain taxes/assessments if applicable, and then the secured debt, with surplus only if money remains. The key next step is to obtain the final report and account from the clerk; it is generally filed within 30 days after receipt of the sale proceeds.

Talk to a Surplus Funds Attorney

If there is a question about the final foreclosure sale numbers, whether fees were properly included, or whether any surplus should have been paid into the clerk’s office, experienced attorneys can help review the court file and explain the options and timelines. Call us today at (919) 341-7055.

Disclaimer: This article provides general information about North Carolina law based on the single question stated above. It is not legal advice for your specific situation and does not create an attorney-client relationship. Laws, procedures, and local practice can change and may vary by county. If you have a deadline, act promptly and speak with a licensed North Carolina attorney.