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3.3 Should there be no bidder at the second auction,
the starting price for the third auction is determined at 80% of the
appraisal value indicated in No. 3.1.

3.4 In the fourth auction and subsequent one, the
starting price is determined at 70% of the appraisal value indicated in
No. 3.1.
4) The executing officer may announce how much the price
of each property can be increased and once the price is increased,
it will be used until the bidding is completed. However, any bidder

wishing to increase the price at the rate higher than the fixed rate
shall be able to do so.
5) After the announcement of auction of the property is
read, a bidder may raise a bidder’s sign proposing to buy at the

starting price. In case of multiple bidder’s wishing to buy the same
property, they may raise a bidder’s sign proposing an increase over the
starting price the rate of increase stipulated by the executing officer
or proposing any price higher than the said rate.
6) Bidding runs until the highest price is reached.
The enforcement officer makes the first announcement of the price

for 2-3 times, the second announcement of the price for 2-3 times.
If no higher price is offered, the enforcement officer will make the
third announcement of the highest price and knocks the hammer
declaring the highest bidder as the successful bidder.
7) Successful bidder needs to enter into the sale agreement

printed form the Legal Execution Department template

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