This is not an auction for the lien, in NC you come away from an auction not as a lien holder but a property owner.The property is valued at say 250K, the junior lien bidding started at 100K and ended at 190K and to the best of my knowledge and for the sake of this question the outstanding balance on the senior lien is 50K.

Your equity is define as:The value of your house - your outstanding mortgage.  

Once more development happens along highway 29 I think we'll see things change, but again, it's a long ways off.

"Transfers to a wholly owned entity (like a single-member LLC) are only exempt from documentary transfer taxes if there is no outstanding mortgage on the property.

However, this house is just two houses down from loop connector parallel to a highway.

But a short way down the road from me, we find ourselves in a more populated area that makes for a closer commute to the city and highway.

@Jonah Richard outstanding.

Outstanding!

Good news first.That could be fixing any outstanding maintenance requests, making the place look nicer etc.

Purchase price: $59,900 Cash invested: $300 23.5 acres of wooded land on a state highway, comercially zoned, was overgrown for 18 years spent many hours clearing out property to make it suitable for recreational activities.