THE ADVANTAGES OF PROPERTY AUCTION
- According to the current law, the auction is an activity with natures like open, continuous, objective, honest, equal, aiming to protect the legitimate rights and interests of all parties.
- Every property brought to auction must have legal document and scientific document. For ensuring the legitimacy and quality of the property, the first is appraised by a professional auction oganization, while the latter is issued by competent institutions.
- The legitimate rights and interests of bidders are always protected by law (Article 4 of Decree No.17/2010/NĐ-CP of the Government about property auction).
- The modality of property auction helps buyers determine the resonable price of the property that closest to the market price.
- The auction winner is confered "The Certificate of Auction Winner" by the auction organization - an important document proves the legitimate ownership to the property.
- The auction winner is handed over the property with all legal and scientific documents.
- The auctioneer acts as a "preventive judge" to prevent legal risk and trading conflict, aiming to create an open and wholesome property trading market.
- The winning price is announced openly and is the basis for calculating income tax, withholding tax and other taxes raised when transferring property contributes to develop society - this is what free market cannot reach.
- Through mass media, the artworks of artists in the whole country and other properties with national characteristics are introduced to the wider public in homeland and abroad.