Real Auction Techniques That Turn Learning into Money
Complete your auction investment without fail based on solid theory!

There are many books that list success stories and examples like, 'I made this much money through real estate auctions.'
But can you actually try real estate auctions by reading such books?
Can that level of success be achieved? "A Solid Start to Real Auction Study" began with this very question.
The author is Seo Seung-gwan, the director of the auction mentor 'Kyungsamo Auction Academy', which has produced 5,000 students.
He is still active in the auction market, and hundreds of students have won real estate auctions through his lectures.

Although there are fewer crappy books now than when the author first published them, crappy lectures and books are still rampant.
In this situation, the author believes that for those who are learning about auctions for the first time, theory is more important than anything else, and that understanding the flow of the real estate market is essential for auction investment.
So, the book first covers past and present situations to help you gain a basic understanding of the real estate market, and then predicts the future of the real estate market.
This book, which covers the theory of auction investment, practical knowledge, and even practical practice problems, is the beginning and end of auctions. It is filled with essential and useful information that cannot be omitted.

Even from the perspective of a lecturer, auctions are a field that can be said to be difficult if it is difficult, and easy if it is easy.
This book was published with the hope of providing some help in conducting auctions amidst this confusion.

--- p.5

This book introduces the past and present situations in order to provide a basic understanding of the real estate market, and then boldly predicts the future of the market.
You must first understand the flow of the real estate market to be able to invest in auctions.
We excluded any real-world examples or commonly discussed money-making experiences.
While I can't say that such cases are not helpful at all, I believe that theory is more important than anything else for those who are learning about auctions for the first time.

--- p.5-6

As readers know, real estate prices have skyrocketed since then.
Therefore, rather than blindly following the media, it is important to first develop the ability to analyze and judge the real estate market yourself.

--- p.22

Once I've found the items I want to bid on online, it's time to get out there and do some legwork.
When going to the site, try to use public transportation as much as possible.
This is because you need to determine the distance between the property and the subway station, and check whether there are government offices, convenience facilities, etc. on the way from the station to the property.
And since you are not going to just one or two places, you must definitely leave a record of this.

--- p.30

The purpose of an auction consulting firm is to earn commissions.
They never put the customer's interests first.
To receive this fee, most auction consulting firms ensure that their clients win the bid and induce the highest possible bid.

--- p.34

In fact, rather than investing heavily in expensive real estate, it is best to find something that matches your spare money and invest in it.
Sometimes, people who have previously lived in a house put up for sale win an auction with the thought that they will have to pay the balance when the house sells. This is an extremely dangerous behavior.
I'd love for my house to sell when I want it, but what if it doesn't? No matter what, I need to secure the deposit in advance before I win the bid.

--- p.38

It's best to file for a seizure and a payment order simultaneously, if possible. This is because if the debtor fails to repay the money even after the payment order has been finalized, a forced auction can be filed immediately.
Even if the debtor does not have real estate, it is a good idea to obtain an enforcement document such as a payment order.
The statute of limitations for the bond is 10 years, and interest of 12% per annum is charged until the bond is repaid.

--- p.46

What's the most important thing to keep in mind when conducting a real estate auction? It's the "Selling List."
This can be said to be a very important document in an auction.
It is no exaggeration to say that the sales statement is a document that sends a warning to the person who is planning to win the bid.
It contains information on statutory rights, provisional dispositions, burial site rights, retention rights, and advance registration.

--- p.51

When the successful bidder pays the sale price, the court sets a distribution date and notifies the interested parties and creditors who have requested distribution.
Once the sale price is paid, the distribution date is usually set four weeks later, and creditors receive distributions according to their respective rights.
And the successful bidder only has to pay the balance and then go through the process of making the house his or her own.
This is a transfer of ownership registration.
At this time, the successful bidder can request the registration office to cancel the items that he or she does not intend to acquire.
However, the successful bidder must bear the registration and cancellation costs.

--- p.59

Many people overlook the importance of this real estate registry copy.
That is why various real estate frauds, such as jeonse fraud, occur.
Some people don't know how the register of real estate is structured or how to read it.
There are many people who fearlessly engage in real estate buying and selling or leasing, which requires a lot of money.

--- p.64

In the case of Gapgu, there is a seizure registration and a provisional seizure registration, and a provisional seizure means a ‘preservation measure for a monetary claim.’
If you need to collect a monetary debt from the other party, you must obtain a 'right of execution' through a lawsuit or other means to recover the debt.
Even if you receive a writ of execution, you may have difficulty collecting your debt if the debtor embezzles assets or there are changes in his or her assets.
So, I am applying for a seizure to secure the monetary claim I want to receive.

--- p.72

Why is real estate auctions so difficult for the average person? It's because of the rights analysis.
Rights analysis is the most fundamental part of auctions.
Many auction academies teach rights analysis haphazardly, focusing only on the management of the property. But what's the point of managing a property if you can't even analyze it? This book will provide a detailed and thorough explanation of rights analysis.

--- p.97

Since multi-family housing is a general building, the entire building is considered a single property rather than a part of it being considered an independent property.
For example, if there is a multi-family house and a leasehold right is established on unit 302, unit 302 is not an independent real estate, and the leasehold right established on unit 302 of the multi-family house cannot be viewed as an establishment for the entire building.

--- p.102

The rights that can become the basis for cancellation are A's mortgage, B's seizure, rightful mortgage, and unrightful seizure.
Among these, the mortgage of Party A that is the earliest in terms of timing becomes the right to cancel, and all rights thereafter are extinguished from the right to cancel.
Will a provisional registration, which is a right to transfer ownership, be extinguished? Since it is a subordinate right, it is naturally extinguished.

--- p.109

The standard time for judging residential buildings should be the time of signing the lease agreement.
If a non-residential building is leased and the tenant arbitrarily remodels it during use and uses it for residential purposes, the Housing Lease Protection Act is not applicable.
Additionally, if a residential house is contracted for office use at the time of signing the contract, it is excluded from the application of the Housing Lease Protection Act.

--- p.126

The dividend problem needs to be solved repeatedly before the dividend ranking becomes visible.
The examples start with the basics of dividends.
If you understand everything, the foundation of rights analysis will be laid and you will be upgraded to the next level.
Let's analyze the following questions to determine what the rights to cancellation are, who receives dividends, in what order they are distributed, and how much each person can receive.
--- p.152

In order for a small tenant to receive priority payment, the following conditions must be met:
First, you must be a small tenant.
Must be a small tenant based on the law in effect at the time of establishment of the first priority security interest.
Second, the conditions for opposition must be met before the auction registration and must be maintained until the successful bid date.
Third, dividend requests must be made before the dividend request deadline.

--- p.171

So far, we have laid the foundation for rights analysis by explaining the theory and solving dividend examples.
However, when actually participating in a bid, it is not organized as in the example above, so you have to look at the register copy and the sale item specification yourself and make a distribution.
If you practice analyzing and allocating rights using the sales item description and copy of the register, your skills will quickly improve.

--- p.214

One thing to keep in mind is not to focus too much on returns.
The most important thing to remember is to preserve your principal.
Preserving my investment principal is paramount. What if I hold a property earning 15% annual rental income for two years, only to find the market price has dropped by 30 million won when I put it up for sale? Not only will I lose the rental yield I've earned, I'll also lose my investment principal.
Therefore, please always check whether you can preserve your principal.

--- p.294