The market value appraisal prepared by the court-appointed valuer does indeed constitute the minimum bid, but in practice the bids actually achieved are frequently below this determined value.
Particularly in the first round of auction, in which an award below 70 or 50 percent of the market value can still be refused, certain protective mechanisms exist for the owners.
For this reason, a partition auction should always be regarded as a last resort, to be pursued only after all possibilities for an amicable sale have been exhausted.
The process of a partition auction follows a fixed statutory procedure with public notice, meaning that in principle third parties unrelated to the case can also participate as bidders.
To avoid a sale below value that is unfavorable to both parties, an effort should always be made to reach an amicable solution before the actual auction date.
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