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Auction for mortgage property forced sale

Bidding for the forced sale of the debtor’s property is the final and most important stage of debt collection. Before starting the sale procedure, it is necessary to provide preparatory procedures: inventory of property (subject of pledge or mortgage), appointment of an appraiser and conducting an appraisal examination.

As soon as the Executive body has received the results of the evaluation examination, it will send the document to the regional SIS office, which will hold a competition between the organizations involved in the organization of auctions. Once the competition is completed, the SIS will contract with the winning organization.

Bidding on the sale will be held within a period not exceeding two months, from the moment when the SIS and the winner of the competition will conclude an agreement giving the right to the latter to sell the collateral. Before starting the auction, the system of sale of confiscated and seized property will make a corresponding announcement about the beginning of the auction., in this case, it is possible to conduct several auctions for the sale of the property. The starting price of the property may also be reduced at the request of the SIS authorities.

After completion of the auction, the relevant Protocol on its results and participants will be sent to the Executive service responsible for its organization.

After the winner of the auction will pay the full amount of its acquisition, the state executor is obliged to make a statement that the auction took place. Based on this act, a new ownership right will be registered in the future.

As it is clear from the above information, the organization and holding of tenders for the forced sale of property is a complex and lengthy procedure. That is why the Executive service and the auction organizer quite often violate the key rights of the debtor: underestimation, after which the Bank buys the property and the debt still remains.

Kasyanenko & Partners Law Company has the necessary experience to ensure that the bidding on the most favorable terms for the borrower. If the property was sold at auction-we know how to return it.

Ask for advice on the contacts listed on the site to get more information on your question.

We also recommend that you follow the main aspects of choosing a company to receive quality legal assistance:

  • Proper qualification of employees. Lawyers and attorneys of the Kasyanenko & Partners Law Company have considerable practical experience and theoretical knowledge in various fields of law and jurisprudence, which have passed a complex qualification control.
  • Implementation of payment and pricing. We offer our customers the possibility of making a one-time payment with a fixed price, hourly rates or a subscription fee.
  • Availability of a contract for the provision of legal services. We provide legal services only after signing a contract with transparent conditions, which specifies not only the nature of the services provided, but also their cost.
  • The procedure for monitoring the provision of legal aid. All specialists of our company keep reports on each case, which is in his responsibility. We have developed unique mechanisms to control the performance of lawyers and lawyers of their obligations at the proper level.
  • The nuances of the work. For many years of legal practice, our specialists have been able to develop the most effective mechanisms for providing legal assistance in a particular situation. This makes it possible not to doubt the satisfaction of the final result.
  • Convenience of cooperation. Each of our clients has the opportunity to constantly maintain contact with the specialist leading his business.

We are happy to provide you with detailed advice on various aspects of credit disputes. Our company can help You, using only the most reliable mechanisms to reduce debt on the loan.

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