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MANUAL FOR BUYERS
MANUAL FOR BUYERS
Legal execution Departmentxecution Department
Legal e
4. Bidding of Immovable Property (land, land with building,
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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