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6) The executing officer shall forfeit the deposit made by
the successful bidder in the sale agreement if he/she cannot make
the full payment within the due date. The property bid by that
person shall be re-auctioned whereby the successful bidder from the
previous bidding shall be informed of the date, time and place.
10. Adding or Removal of the Buyer’s Name
10. Adding or Removal of the Buyer’s Name
1) Before the bidding starts, bidders must check their
names to ensure accuracy and make sure that they are capable of
making the payment or check with the financial institutes that they
are applying for loan. Once the bidding is completed, in no event
shall a change of the buyer’s name, either by adding or removal of
the name, be allowed.
2) In the case that the bidder represents someone else in
the bidding, the bidder must present the power of attorney to the
executing officer before the bidding starts. Without the power of
attorney, the bidder is deemed
bidding on his/her own behalf.

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