KAMCO to Auction Seized Assets Worth 70.4 Billion Won... Bid Opening Results Announced on 27th
[Asia Economy Reporter Kwangho Lee] Korea Asset Management Corporation (KAMCO) announced on the 20th that it will auction 720 items worth 70.4 billion KRW, including 136 residential buildings such as apartments and houses nationwide, through Onbid over three days from the 24th to the 26th.
The auctioned items are properties entrusted to KAMCO for auction by public institutions such as tax offices and local governments to collect delinquent taxes. This auction includes 327 items priced at 70% or less of the appraised value, making it worth the attention of actual buyers.
When bidding in the auction, careful analysis of rights is necessary, and the responsibility for eviction of tenants lies with the buyer, so caution is required. Also, keep in mind that the auction of the item may be canceled before bidding due to reasons such as tax payment or undeliverable notices.
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New auction items will be announced on the 26th through Onbid, and more detailed information can be found on the Onbid website.
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