What should the People's Court do about asset auction and house property auction?

In recent years, with the accelerated development of society, owning a house and a car is no longer the symbol of the so-called successful people or wealthy people in earlier years. It is almost the standard configuration for young people who have a firm foothold in the city. However, the soaring house price and the shrinking housing quality are all problems exposed in this rapidly developing society that cannot be ignored, So many people turn their attention to the houses auctioned by the people's court assets, but not every auction can be successful. What should we do if the houses auctioned by the people's court assets are sold off?

What should the People's Court do about asset auction and house property auction?

The Supreme People's Court on People's Courts civil execution Provisions on Auction and Sale of Property

Article 26 When no one bids at auction or the highest bidding price of bidders is lower than the reserved price, the present application executor or other executors creditor Those who do not apply for paying off debts with the reserve price set by the auction shall auction again within 60 days.

Article 27 The people's court may, in accordance with the provisions of Article 19 of these Provisions, give the price of the chattels that are still unsold at the second auction to the applicant for enforcement or other enforcement creditors to offset their debts. If the person applying for enforcement or other enforcement creditors refuse to accept it or cannot deliver it to pay their debts according to law, the people's court shall lift the seal up and distrain and return the movable property to the person subjected to enforcement.

Article 28 The people's court may, in accordance with the provisions of Article 19 of these Provisions, give the price of the real estate or other property rights that are still unsold at the second auction to the applicant for enforcement or other enforcement creditors to offset their debts. If the person applying for enforcement or other enforcement creditors refuse to accept it or cannot deliver it to pay their debts according to law, they shall conduct a third auction within 60 days.

If the third auction fails and the applicant for enforcement or other enforcement creditors refuse to accept or cannot accept the real estate or other property rights to repay debts according to law, the people's court shall issue a public notice of sale within seven days from the date of the end of the third auction. If no buyer is willing to buy the property at the reserve price of the third auction within 60 days from the date of the public announcement, and the applicant for enforcement and other enforcement creditors still do not accept the property to repay their debts, the sealing up and freezing shall be lifted, and the property shall be returned to the person subjected to enforcement, except that other enforcement measures can be taken against the property.

It can be seen from the above relevant provisions that the people's court can re auction assets after they have been auctioned. However, the number of re auctions is limited. Movable property auctions are limited to two and real estate auctions are limited to three, that is, if People's Court Asset Auction If the property of the People's Court of Justice has been auctioned off, it can be auctioned again twice. If the property of the People's Court of Justice has been auctioned off three times, the auctioned property can only be returned to the person being executed.