AUCTION INFORMATION
PROGRESS OF AUCTION
auction participant manual
1
SELECTION OF AUCTION PROPERTY OFFER
- www.drazby.licitor.sk
2
PARTICIPATION IN THE PRE-INSPECTION ROUND
- choice of two deadlines
3
LODGE AUCTION SECURITY
- payment by bank transfer
4
ENTERING THE AUCTION ROOM
- an invitation to prove identity / authorization to act on behalf of a participant.
- entry in the list of participants + signature of the affidavit on the eligibility of the participant according to § 5 ZoDD
- take the auction number
- prove the composition of the auction security, or deposit it in cash
5
INVITATION OF AUCTIONEER
- a statement of the subject of the auction and the conditions of the auction
- invitation to participants of auction
6
SUBMISSION OF AUCTION PARTICIPANTS
- an oral bid at the lowest price, or increased by a minimum bid
- "perfection of submission lowest price" - verbal bid + pick up auction number
- DOUBLE CALL to increasing last submission
- THIRD CALL to increasing submission .......... a knock down
7
SORTITION
- within one call at a time EQUAL PRICE of multiple participants ... the moment when the auctioneer expresses this price, saying First
- if of submission of a subscriber with FIRST OPTION ... if nobody makes a higher price ...
8
KNOCK DOWN
- an auction TERMINATED ... ownership is transferred (title of acquisition of notarial deed on the course of the auction)
9
PAYMENT OF A PRICE ACHIEVED BY AUCTION
- payment of the auction price within 15 days of the date of the knockdown, unless otherwise specified in the Auction Notice
10
SUBMISSION OF THE AUCTION SUBJECT
- the previous owner is obliged to hand over the subject of the auction
- the auctioneer shall issue a Minutes on the handover of the subject of the auction on the place. The moment the subject of auction is handed over, the danger passes to the bidder
- damages to the subject of the auction
11
LEGAL REMEDY
- passing of the limitation period for bringing an action for annulment of auction (3 months from the date of knock down)
BASIC TERMS
Auction
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Public proceeding to transfer ownership or other right to subject of auction. It is based on request of the applicant whereby the auctioneer turns to a predetermined circle of persons present at a predetermined location with the invitation to offers. The person who makes the highest price, the auctioneer's knock down passes ownership or other rights to the auction, or a public proceeding which has been terminated by the auctioneer due to the fact that the lowest submission has not been made.
Subject of auction
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A thing, a right, other property value that is transferable, a set of things, rights or other property values, an enterprise or part of an enterprise that fulfills the conditions laid down by Act no. 527/2002 Coll. on voluntary auctions.
Auction security
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Securing the future obligations of the bidders in the specified amount and form. Thee auction security must be deposited in advance and its amount is specified in the Auction Notice. If the auctioned of auction subject is counted in the price achieved in the auction and, if not sold, will the bidder auction security returned after the auction.
Auctioneer
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An employee of the auctioneer who is authorized to perform auctioning on behalf of and on behalf of the auctioneer.
Opening of auction
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The invitation of auctioneer to start the auction.
The knock down - the act of auctioneer
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It consists of tapping the knock down, which results in the transfer of ownership or other right to subject of auction under specified conditions.
Bidder
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The bidder who has been granted the knock down.
Yield of auction
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The amount obtained in the auction and its potential accessories.
Failed auction
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Failure to pay the price of subject of the auction within deadline.
Notarial central register
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Publicly accessible information system (internet) where auctions are published. Here, the information specified by this Act or information provided voluntarily by other bidders is published. The administrator of the auction register is the Notary Chamber of the Slovak Republic.
Reauction
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The next auction to be held under a contract to make a repeated auction.
Voluntary Auction Act
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Act no. 527/2002 Coll. on voluntary auctions and on amendment of the Act of the Slovak National Council no. 323/1992 Coll. on Notaries and Notarial Activities (Notarial Code), as amended.
FAQ
What should I do if I cannot come to the auction in person?
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If you cannot attend the auction in person, you can authorize another person for yourself. It is necessary for this person to prove at the auction the authorization in question with a certified signature.
Is it necessary to register in advance for the auction inspection?
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Those interested in performing the inspection will register by phone no later than 24 hours before the scheduled date of the inspection. The reason is that the auction in question may be waived until the date of its holding.
What will the title deed look like after the auction?
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Ownership passes to the auctioneer by awarding the knock down. The transfer of ownership terminates the other liens in the order of the lien creditors exercising the lien.
Is it possible to finance through a loan?
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Find out about the possibility of financing the auction by the bank directly at your bank.
Is the auction security included in price achieved by the auction?
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Yes, the auction security is included in price of auction achieved by the auctioneer.
What is the next step when I come to the auction room for an auction?
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You can find the answer in the Auction process - section Progress of Auction.