Page 37 - Demo

362. Before the biddingThebiddermustbeabletoconfirmthathe/sheisnotsubjecttoareceivershiporadjudgedbankrupt.Incaseofuncertainty,thebiddermaycheckthebankruptcystatusfromtheexecutingofficer.3. Request for revocation of bidding when the buyer is not ready for transfer of title.Thebuyermayrequestforextensionoftheremainingpaymentuntilthecourthasissuedthefinalorderfollowingtherequestforrevocationofbidding.Thebuyer,however,isrequiredtomakepartialpaymentof5%oftheamount.4. The court order not to revoke the bidding%u0009 %u0009 Thebuyerisrequiredtomaketheremainingpaymentwithinthetimeperiodprescribedbytheexecutingofficer. 5. In case of a request for the revocation of bidding.Thebuyerwhohasmadefullpaymentmaygetthetitletransfercompletedprovidedthatthebuyeragreetoacceptthecourtorder.Ifthecourtordersarevocationofbidding,thebuyershalltransferbackthetitleathis/herowncostsandreturntheoriginaltitledeedandthemortgageagreementtotheexecutingofficerandcanreclaimthepayment.Thebuyershallhavenorightforanydamageorcompensation.36