Legal analysis
According to the relevant laws and regulations, no one in the court is willing to sell the property, and the subject matter can be sold at a discount. The people's court may, in accordance with the relevant laws and regulations, hand over the real estate or other property rights that are still auctioned in the second auction to the application executor or other enforcement creditors to pay off the debts. If the application executor or other enforcement creditors refuse to accept or fail to pay off the debts according to law, the third auction shall be held within 60 days. If the third auction fails and the applicant executor or other enforcement creditors refuse to accept the real estate or other property rights to pay off debts according to law, the people's court shall issue a notice of sale within seven days from the end of the third auction. If no buyer is willing to buy the property at the reserve price of the third auction within 60 days from the date of announcement, and the application executor and other enforcement creditors still refuse to accept the property to pay off their debts, the seizure and freezing shall be lifted and the property shall be returned to the person subjected to execution, except that other enforcement measures can be taken for the property. After the auction or debt repayment of real estate, the real estate shall be transferred from the time when the ruling of auction or debt repayment is delivered to the buyer or recipient. It is usually necessary for the court to issue a ruling and go to the trading center where the house is located to handle the transfer of property rights.
legal ground
People's Republic of China (PRC) Civil Code
Article 410 Where the debtor fails to perform the due debt or realize the mortgage right according to the agreement of the parties, the mortgagee may agree with the mortgagor to discount the mortgaged property or give priority to compensation with the price of auction or sale of the mortgaged property. If the agreement harms the interests of other creditors, other creditors may request the people's court to cancel the agreement. If the mortgagee and the mortgagor cannot reach an agreement on the way to realize the mortgage, the mortgagee may request the people's court to auction or sell the mortgaged property. Where the mortgaged property is discounted or sold, it shall refer to the market price.
Article 436 Where the debtor performs the debt or the pledger pays off the secured creditor's rights in advance, the pledgee shall return the pledged property. According to the agreement of the parties, if the debtor fails to perform the due debts or realize the pledge, the pledgee may agree with the pledgor to discount or give priority to the payment with the proceeds from auction or sale of the pledged property. Where the pledged property is discounted or sold, it shall refer to the market price.