Page 29 - Demo

28%u0009 3.3Shouldtherebenobidderatthesecondauction,thestartingpriceforthethirdauctionisdeterminedat80%oftheappraisalvalueindicatedinNo.3.1.%u0009 %u0009 %u0009 3.4%u0009Inthefourthauctionandsubsequentone,thestartingpriceisdeterminedat70%oftheappraisalvalueindicatedinNo.3.1.%u0009 %u0009 4)%u0009Theexecutingofficermayannouncehowmuchthepriceofeachpropertycanbeincreasedandoncethepriceisincreased,itwillbeuseduntilthebiddingiscompleted.However,anybidderwishingtoincreasethepriceattheratehigherthanthefixedrateshallbeabletodoso.%u0009 %u0009 5)%u0009Aftertheannouncementofauctionofthepropertyisread,abiddermayraiseabidder%u2019ssignproposingtobuyatthestartingprice.Incaseofmultiplebidder%u2019swishingtobuythesameproperty,theymayraiseabidder%u2019ssignproposinganincreaseoverthestartingpricetherateofincreasestipulatedbytheexecutingofficerorproposinganypricehigherthanthesaidrate.%u0009 %u0009 6)Biddingrunsuntilthehighestpriceisreached.Theenforcementofficermakesthefirstannouncementofthepricefor2-3times,thesecondannouncementofthepricefor2-3times.Ifnohigherpriceisoffered,theenforcementofficerwillmakethethirdannouncementofthehighestpriceandknocksthehammerdeclaringthehighestbidderasthesuccessfulbidder.%u0009 %u0009 7)%u0009SuccessfulbidderneedstoenterintothesaleagreementprintedformtheLegalExecutionDepartmenttemplate28