Judicial auction of properties can handle transfer procedures and can be successfully completed with the assistance of the court. If both parties voluntarily comply with the judgment or ruling, they shall jointly go to the registration agency for the relevant work of transfer of ownership; If one party is unwilling to fulfill its obligations, the bank shall submit a compulsory execution application to the court, and the registration department shall carry out the transfer procedures based on the court's judgment and notification. Just pay attention to the following points:
1. Easy to trigger other debt conflicts. Some properties for sale may already have other creditors, such as those with established mortgage rights or involving multiple sales of one property.
2. The buyer's on-site inspection is inconvenient, and the court only briefly states obvious defects, so there may be unexplained property issues, and all taxes and fees are the buyer's responsibility.
3. According to Article 1 of the "Provisions of the Supreme People's Court on Auction and Sale of Property in Civil Enforcement by People's Courts", if it is necessary to seal, detain, or freeze the property of the respondent during the enforcement process, timely auction, sale, or other enforcement actions should be taken.
4. If the first auction of a property in a judicial auction is unsuccessful, it will be auctioned twice or even three times. If the transaction still cannot be completed, it will be converted to sale. If the transaction cannot be reached in the end, the only option is to use the property to offset the debt.
