Page 133 - Demo

132Interesting facts about enforcement of civil case judgmentIn the case that a property is put up for public auction again following a buyer%u2019s failure to make full payment within the prescribed period, what will be the starting price for the new public auction?%u0009 Whenanenforcementofficerforfeitsthedepositandputsthepropertyup for a sale by public auction again the starting price will be set at the winning bid in the previous auction. For example, if the property was sold at the second auction where the starting price is 90% of the appraisal value, the buyer can bid as high as he or she wants. However, after the highest bid was accepted and the deposit was later forfeited, the starting price at the new auction will be the same as such bidding price. If the new auction is stayed because there is no bidder, the starting price in the following public auction will return to the starting price in the second auction, which is 90% of the appraisal value. No.13QuestionAnswer