Next, it is really entering the auction:
No one bids or the bidder's price should be lower than the reserve price at auction. If the application executor or other enforcement creditors present apply for or agree to accept the auction property at the reserve price determined by the auction, they shall hand over the property to pay off the debts.
If no one bids at auction or the bidder's bid price is lower than the reserved price, it shall be auctioned again within 60 days.
Third Auction The third auction shall be held within 60 days for the immovable property or other property rights that were not successfully auctioned in the second auction.
In addition, the court's seal-up ruling, evaluation report and auction ruling all need to be delivered to both parties, and it takes time.
Legal auction house is short for the property of court auction house. Give a chestnut: Xiao Wang mortgaged his property to the bank for a loan, and he couldn't pay back the money after the deadline. In order to recover the loan, the bank can apply to the court to auction Xiao Wang's house to pay off his loan. At this time, Xiao Wang's house became an auction house.
Disposal process of house auction according to law: court sealing up ~ third party reporting real estate appraisal ~ auction ~ deposit ~ auction ~ transaction confirmation ~ final payment ~ judicial ruling ~ unsealing ~ tax review ~ transfer ~ property right certificate.
: judicial decision
The legal effect of the judicial ruling is equivalent to the real estate license, and it takes about 2 to 5 weeks from the payment of the final auction money to the receipt of the judicial ruling. After a judicial ruling, the investor actually owns the property and can rent it out. However, if you want to apply for bank mortgage or real estate sale, the buyer still needs to get the real estate license. The first step in handling the real estate license is tax inspection. The buyer mainly completes the tax audit in the real estate trading center where the real estate is located, which takes 3 to 4 working days.
After completing the tax audit, contact the court judge to unseal the property, because there is no clear time agreement on unsealing in relevant laws and regulations, and there are great differences in the implementation of unsealing procedures among courts.
Legal basis:
"Provisions of the Supreme People's Court on Auction and Sale of Civil Execution Property by People's Courts" Article 1
In the execution procedure, after the property of the person subjected to execution is sealed up, detained or frozen, the people's court shall auction, sell off or take other execution measures in time.
Article 2 of the Provisions of the Supreme People's Court on Auction and Sale of Civil Execution Property by People's Courts.
The people's court shall give priority to auction when dealing with the property that has been sealed up, detained or frozen, except as otherwise provided by laws and judicial interpretations.
Article 3 of the Provisions of the Supreme People's Court on Auction and Sale of Civil Execution Property by People's Courts.
The people's court shall entrust an auction institution with corresponding qualifications to auction the property of the person subjected to execution, and supervise the auction of the auction institution, except as otherwise provided by laws and judicial interpretations.
If the relevant legal documents cannot be served, they need to be served by public announcement. The announcement period is two months, and the biggest uncertainty is at this stage.