What is a Commissioner Property?

Brian Bain, with over 8 years of experience as a court-appointed Commissioner, possesses the unique ability to sell properties both on and off MLS, effectively attracting a wide range of potential buyers at a reduced statutory fee of 5%. Moreover, any fees associated with listing real estate are covered by Brian, ensuring no additional cost to the client. In this role, he handles property sales for diverse cases including Partition Actions, Estate Sales, sales involving minor children or incompetent owners necessitating a Guardian or GAL, and Judicial Sales directed by a District Court Judge under Rule 70, particularly when parties fail to comply with mediated settlement agreements.

**See below for FAQs

1159 Phil Oneil Dr

1159 Phil Oneil Dr
827 Woodcote Dr.

827 Woodcote Dr.
MORE PROPERTIES COMING SOON

MORE PROPERTIES COMING SOON

BRIAN BAIN

brianbain@kw.com
(704) 794-7710

Brian Bain, serving as the Commissioner for Mecklenburg and Cabarrus County, operates within a unique real estate framework that involves a 10-day upset bid period. As a central figure in this process, Brian plays a pivotal role in facilitating property sales on behalf of owners who are unable to sell properties without court approval. To submit an offer for one of these court-ordered sales, interested parties must follow a specific procedure. All offers are required to be sent via email to brianbain@kw.com, which serves as the primary means of communication for this particular real estate endeavor. Brian Bain's involvement in this capacity highlights his instrumental role in managing and overseeing these court-ordered property transactions, ultimately contributing to the efficient execution of sales within this framework.

Commissioner Sale Process

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FAQs

  • All offers must have a Commissioner Addendum signed and presented with the offer.

  • All offers require a 5% non-refundable earnest money deposit payable to Brian Bain, Commissioner, and will be held in his attorney trust account.

  • There is no due diligence period.

  • The closing date shall be 21 days after the Order Confirming Sale is entered. See statement.

  • Once a contract is signed and the earnest money is received the commissioner will file a Report of Sale.

  • The Report of Sale will state the purchase price and will be placed in the Judicial Upset Bid Book at the Special Proceedings counter on the main floor of the Cabarrus County Courthouse.

  • Anyone may upset the bid by offering 5% more than the contract price (or the last upset bid, if one and depositing 5% earnest money with the clerk during the 10 day period, which runs from the day after the filing of the Report of Sale.

  • If there is an upset bid, the 10 day period starts over and the initial 5% will be refunded within 3 days. This is the only time the earnest money is refundable.

  • Once the 10 days run without an upset bid, the commissioner will move for Confirmation of Sale. This does not require a hearing and will take between 1 and 4 days.

  • The buyer will receive a Commissioner's Deed at closing which is free and clear of all liens.

  • It is recommended that the buyer use The Coley Law Firm, PLLC for closing. Their number is 704-412-3260.