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MANUAL FOR BUYERS
MANUAL FOR BUYERS
ecution Department
x
Legal e
Legal execution Department

4.

4. Bidding of Immovable Property (land, land with building,
ovable Property (land, land w
ith building,

Bidding of Imm
and condominium etc.)
and condominium etc.)
1) Before the bidding starts, the executing officer gives
brief explanation of the bidding process and conditions of bidding,
then runs the bidding according to the order indicated in the
announcement.
2) The executing officer reads details of each case and the
announcement of bidding, then checks if any interested person,
such as the judgment creditor and the judgment debtor, are present.
The executing officer then declares the starting price which is the fair
and reasonable price for such bidding.

3) Determination of the Starting Price
3.1 In determining the starting price in the first auction,
the executing officer uses the price determined by the Price Fixing
Committee. If such price is not available the appraisal value set up by
the property value appraisal officer will be used. If no such appraisal

value is available then the appraisal value set up by the executing
officer will be used.
3.2 Should there be no bidder at the first auction, the
starting price for the second auction is determined at 90% of the
appraisal value indicated in No. 3.1.

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