According to "Provisions of the Supreme People's Court on Auction and Sale of Property in Civil Execution of People's Courts":
Article 23 If an auction is concluded or the debt is paid off with the auction property, the people's court shall make a ruling and deliver it to the buyer or recipient within 10 days after the price or difference should be paid off.
Extended data:
The premise of judicial auction
Judicial auction: it can be divided into two types: compulsory auction by the court and bankruptcy auction entrusted by the liquidation administrator.
1. Bankrupt enterprise auction: the enterprise is cancelled or closed due to insolvency or other improper operation methods. The court organized the liquidation administrator to set up a special liquidation group for bankrupt enterprises, and entrusted qualified auction enterprises or other institutions to auction the subject matter.
2. According to Article 220 of the Civil Procedure Law of People's Republic of China (PRC), "the people's court has the right to seal up, detain, freeze, auction or sell the property that the person subjected to execution should perform according to the notice of execution", the court's compulsory auction means that the creditor's legitimate rights and interests are damaged by the person subjected to execution, and he applies to the court for compulsory execution according to the legal documents that have entered into force.
The first auction (the auction of real estate shall be announced fifteen days before the auction)
1. The bidder shall pay the deposit in advance to the people's court before the auction. If the applicant for enforcement participates in the bidding, the deposit may not be paid in advance. The amount of the deposit shall be determined by the people's court, but it shall not be less than 5% of the evaluation price or market price.
2. The people's court shall notify the parties and the known holders of security interests and preemptive rights to be present five days before the auction date.
3. If there is no bidder in the auction or the highest bid price of the bidder is lower than the reserve price, and the application executor or other enforcement creditors present apply for or agree to accept the auction property at the reserve price set by the auction, they shall hand over the property to pay off the debts.
Baidu Encyclopedia-Provisions on Auction and Sale of Property in Civil Execution of People's Courts