Auction textbook
 |
Description
Book Introduction
18 years since I started auctioning, 14 years since I started teaching An introductory book on auctions, easy for even beginners to understand. Strengthening the 'Main Act' and 'Standing Act' (Priority Payment) When it comes to auctions, I want to emphasize that you don't have to do something difficult or complicated to feel like you've accomplished something great. (Rights analysis) You can make money with easy items, ordinary items that anyone can get their hands on. My 18 years of auction experience and the numerous students I have produced through [336-Cafe] prove this. If we study deeply, we will pass the bar exam. Our goal is not to pass the bar exam. Just auction it off. This book is being auctioned, and I am confident that it will be a book that meets all the necessary and sufficient conditions. There is no need to know any more, and there is no need to study any more. Just do this much. That will be enough. I hope to shake off that feeling of anxiety that I still don't know something and that I need to keep studying more. If you fully understand the contents of this book, you will be able to bid without any risk. Be confident, but don't be arrogant, and take it one step at a time. I sincerely hope that whoever reads this book will be blessed with great success. |
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Preview
index
introduction
Chapter 0 Auction
Why is it being auctioned? (Because of the large amount of debt)
Dividend results
Debt never goes away
What is rights analysis?!
Where can I find auction information?
Basics of Rights Analysis - The Simplest Type
Chapter 1: Beginning of Rights Analysis
Beginning of Rights Analysis
Right to erasure
Chapter 2 Tenants
Tenancy Protection Act
Tenant's Rights
Resistance
Preferential payment right (confirmation date)
Dividend demand
Rights analysis order
Tenant allocation ranking
Let's go a step deeper
Senior tenants who have not requested dividends
How to catch a fake tenant
Increased deposit
Why did the case move in after the mortgage was issued? (Special agreement to cancel the mortgage)
For newlyweds who don’t know how to read the case or register, a jeonse price lower than the market price is…
If the confirmation is faster than the move-in: What if I remove the address and then re-enter it?
View moving-in households
Chapter 3 Small Tenants (Priority Payment Rights)
Article 8 of the Housing Lease Protection Act (Protection of a Certain Amount of the Deposit)
Standards for small tenants
Priority payment (=0th priority dividend)
Housing Lease Protection Act
Small-scale tenant deposit standard: date of collateral establishment
What is the standard for the reference date for considering small tenants?
Check Point: Property address / Collateral establishment date
Capital Area Development Planning Act: Overcrowding Control Zone
Two similar but different cases
Cases where dividends could have been received but were not received
Qualifications of a small tenant: Move in before auction
Go-Stop, a game played by landlords and tenants
Real Estate Auction Operation Villa (Newly Built Villa Urgently Rented for 30 Million Won)
Small Tenants: 1/2 of the Housing Value Clause
If there are many tenants (e.g. multi-family housing)
Small Tenant Intensification: Multi-Stage Priority Payment 1
Small Tenant Intensification: Multi-Stage Priority Payment 2
The Three Lease Laws Organized in Q&A
Commercial Lease Protection Act (Commercial Lease Protection Act)
Commercial Lease Protection Act (Priority Payment Rights)
Scope of conversion deposit for application of standing law
Chapter 4. Distribution of Dividends (Equal Dividends)
Pop Quiz: Calculating Tenant Dividends
Dividend distribution method: Ranked dividend vs. Proportional dividend.
Reviewing the dividend method (ranking dividend)
Proportional distribution
Absorption dividend
If there are multiple attachments…
Chapter 5 Multi-family housing
Multi-family housing rights analysis
Housing lease registration
Understanding Bonds and Real Rights
Chapter 6 Five Rights to Deletion
leasehold
registration
Compulsory auction registration
Court bidding method
Chapter 7 Land (Land Rights, Separate Land Registration)
Unregistered land rights
What is land rights?
Caution: Unsold apartments
Separate land registration
Tax claims/current taxes, unpaid wages
Chapter 8. When the Tenant's Right of Opposition Occurs
In case of divorce
For previous owners
If you are a corporation
If you are a foreigner
commercial tenant
last
Chapter 0 Auction
Why is it being auctioned? (Because of the large amount of debt)
Dividend results
Debt never goes away
What is rights analysis?!
Where can I find auction information?
Basics of Rights Analysis - The Simplest Type
Chapter 1: Beginning of Rights Analysis
Beginning of Rights Analysis
Right to erasure
Chapter 2 Tenants
Tenancy Protection Act
Tenant's Rights
Resistance
Preferential payment right (confirmation date)
Dividend demand
Rights analysis order
Tenant allocation ranking
Let's go a step deeper
Senior tenants who have not requested dividends
How to catch a fake tenant
Increased deposit
Why did the case move in after the mortgage was issued? (Special agreement to cancel the mortgage)
For newlyweds who don’t know how to read the case or register, a jeonse price lower than the market price is…
If the confirmation is faster than the move-in: What if I remove the address and then re-enter it?
View moving-in households
Chapter 3 Small Tenants (Priority Payment Rights)
Article 8 of the Housing Lease Protection Act (Protection of a Certain Amount of the Deposit)
Standards for small tenants
Priority payment (=0th priority dividend)
Housing Lease Protection Act
Small-scale tenant deposit standard: date of collateral establishment
What is the standard for the reference date for considering small tenants?
Check Point: Property address / Collateral establishment date
Capital Area Development Planning Act: Overcrowding Control Zone
Two similar but different cases
Cases where dividends could have been received but were not received
Qualifications of a small tenant: Move in before auction
Go-Stop, a game played by landlords and tenants
Real Estate Auction Operation Villa (Newly Built Villa Urgently Rented for 30 Million Won)
Small Tenants: 1/2 of the Housing Value Clause
If there are many tenants (e.g. multi-family housing)
Small Tenant Intensification: Multi-Stage Priority Payment 1
Small Tenant Intensification: Multi-Stage Priority Payment 2
The Three Lease Laws Organized in Q&A
Commercial Lease Protection Act (Commercial Lease Protection Act)
Commercial Lease Protection Act (Priority Payment Rights)
Scope of conversion deposit for application of standing law
Chapter 4. Distribution of Dividends (Equal Dividends)
Pop Quiz: Calculating Tenant Dividends
Dividend distribution method: Ranked dividend vs. Proportional dividend.
Reviewing the dividend method (ranking dividend)
Proportional distribution
Absorption dividend
If there are multiple attachments…
Chapter 5 Multi-family housing
Multi-family housing rights analysis
Housing lease registration
Understanding Bonds and Real Rights
Chapter 6 Five Rights to Deletion
leasehold
registration
Compulsory auction registration
Court bidding method
Chapter 7 Land (Land Rights, Separate Land Registration)
Unregistered land rights
What is land rights?
Caution: Unsold apartments
Separate land registration
Tax claims/current taxes, unpaid wages
Chapter 8. When the Tenant's Right of Opposition Occurs
In case of divorce
For previous owners
If you are a corporation
If you are a foreigner
commercial tenant
last
Detailed image
Into the book
Let's assume it was sold for 200 million won through a forced sale by a creditor.
When something is sold like that, it is called a 'successful bid'.
The creditors will divide the 200 million won that was sold.
That's called a 'dividend'.
The problem starts here.
The winning bid (i.e. the price of the house) is 200 million won, but the debt exceeds 200 million won (the price of the house).
It means that some of the creditors cannot receive it.
Which creditor would want to not receive their debt? There's probably no creditor who doesn't want to receive their debt.
Both parties want to recover 100% of their debt.
So, if the creditors sell and divide the assets among themselves, there will be no conclusion.
They end up fighting each other.
--- p.12
When a house is sold at auction, the court distributes the proceeds to the creditors.
We need to figure out how much to bid for and how much to distribute to the creditors, and what is needed at this time is a rights analysis.
In other words, ‘rights analysis’ is the process of squeezing out dividends.
For auctioneers, it's not about who gets what, but who doesn't get paid.
The reason is that someone has to be held responsible for the money that wasn't received.
The person who should be responsible for the unpaid money is naturally the debtor, but in some cases, the successful bidder is also responsible.
At this time, when the debtor takes responsibility for the debt, it is called 'extinction (cancellation)', and when the successful bidder takes responsibility, it is called 'acquisition'.
Therefore, from the successful bidder's perspective, it becomes important whether this debt is extinguished or assumed.
So the core of rights analysis is to determine who is responsible for the debt, and this is why rights analysis is important.
If a rights analysis is conducted and the successful bidder is required to assume the debt, should such an item not be bid on?
--- p.15
If the successful bidder fails to pay the balance, the deposit will be forfeited (non-refundable) and the item will enter the resale process.
This lesson can be learned by not properly analyzing your rights, which can lead to the loss of your precious deposit.
Such lessons are sufficient through indirect experience.
What I personally experience is 'recommendation'.
I went to the auction, but I was scared for a moment when I found out I was the sole successful bidder.
weird.
I wonder if I made a mistake in my rights analysis.
Having a lot of competitors actually makes me feel more at ease.
When a cafe member advised the previous successful bidder that he should pay back the 65 million won debt, the successful bidder reportedly asked back, "Why should I do that?"
There are people who come to the auction court without knowing anything like this.
What can we do to avoid making these mistakes? Learning is essential! Studying is key.
--- p.19
The information recorded in the register of real estate includes basic information about the real estate (address, area, etc.), ownership and rights to ownership, debts, etc.
The 'right to erasure' mentioned above is also one of the rights recorded in the registration.
The right to completely clear out (delete) the various rights recorded in the register = the right to standard deletion.
Anyone can view the register of real estate.
Anyone who knows the address of the property can view it.
You can apply for inspection at the registration office (or online registration office).
You can see any house, not just your own, but also the house next door, the house above, or the house below.
For example, when dealing with an apartment, whether buying, selling, renting, or acquiring one, you need to know who owns the apartment and whether or not they have any debts.
So, the law stipulates that anyone can view the register of real estate.
If you (or your child) are in a relationship, just quietly find out the other person's address.
And then I take off the registration a little bit.
Ah~ Whose house is this?
Or you may be able to figure out that you have a lot of debt.
--- p.37
According to the provisions of the right to object (Article 3, Paragraph 1 of the Lease Protection Act) that we have learned so far, the tenant's right to object becomes effective the day after moving in.
Accordingly, if the mortgage establishment date and the move-in date are the same, the tenant will have a lower priority and will have no right to object, and the probability of not receiving the deposit will also increase.
Fraudulent cases sometimes occur by exploiting this countervailing clause, where landlords take out loans without the tenant's knowledge.
This is a method of hiding the fact that a loan will be incurred from the tenant until the tenant signs a lease and pays the balance, and then executing the loan as soon as the balance is received on the day the tenant moves in.
In that case, the bank mortgage and the tenant's move-in occur on the same day, and according to Article 3, Paragraph 1 (opposition clause) of the Lease Protection Act, the tenant has opposition from the next day and becomes a junior tenant.
After these frauds occur…
--- p.59
Saying that you didn't request a dividend means you don't know about the tenant's deposit.
The court doesn't know, and since the court doesn't know, we don't know either.
If you don't understand, go back and look at the dividend claim section again.
How did they know this tenant's deposit was 60 million won? It was in the rights analysis provided by the company, right? So how did the company know? The court's distribution request doesn't include information that suggests the 60 million won may or may not be the amount listed there.
You shouldn't take that at face value.
If the tenant makes a demand for distribution, you can trust the court documents (property description, current status report) containing the details.
If the content is different from the facts, you can have the bid rejected for that reason.
--- p.85
They say commercial properties are easy to get loans for. Why? Because the Commercial Tenancy Act doesn't adequately protect commercial tenants, banks rarely face problems due to tenants when building owners borrow money from banks, so they don't need to provide things like "room evictions" from their loan limits.
Anyone who has even the slightest interest in commercial real estate auctions knows that this is precisely why various YouTube videos, books, and lectures struggle to easily explain commercial real estate law, especially the parts related to auctions.
Because the law was revised in a makeshift manner, there are many loopholes and conflicting rights, and even those who explain the standing law are not fully aware of many of the parts.
--- p.144
The most important right of a tenant is to secure the right to object through moving in.
We studied cases where a tenant loses his or her right to object after changing his or her address (i.e., moving out).
It cannot be overemphasized that the transfer is maintained.
Receiving the deposit back and moving out are done at the same time….
It is simultaneous execution.
This is what I'm emphasizing, but I have no choice but to remove my address, and I can't get my deposit back.
What you do in that case is registering the lease.
The tenant's rights (move-in, confirmation, deposit) are recorded in the register.
If you do it that way, it's okay even if you move out without receiving the deposit.
The person who registered the lease is still entitled to be a tenant of the house.
When something is sold like that, it is called a 'successful bid'.
The creditors will divide the 200 million won that was sold.
That's called a 'dividend'.
The problem starts here.
The winning bid (i.e. the price of the house) is 200 million won, but the debt exceeds 200 million won (the price of the house).
It means that some of the creditors cannot receive it.
Which creditor would want to not receive their debt? There's probably no creditor who doesn't want to receive their debt.
Both parties want to recover 100% of their debt.
So, if the creditors sell and divide the assets among themselves, there will be no conclusion.
They end up fighting each other.
--- p.12
When a house is sold at auction, the court distributes the proceeds to the creditors.
We need to figure out how much to bid for and how much to distribute to the creditors, and what is needed at this time is a rights analysis.
In other words, ‘rights analysis’ is the process of squeezing out dividends.
For auctioneers, it's not about who gets what, but who doesn't get paid.
The reason is that someone has to be held responsible for the money that wasn't received.
The person who should be responsible for the unpaid money is naturally the debtor, but in some cases, the successful bidder is also responsible.
At this time, when the debtor takes responsibility for the debt, it is called 'extinction (cancellation)', and when the successful bidder takes responsibility, it is called 'acquisition'.
Therefore, from the successful bidder's perspective, it becomes important whether this debt is extinguished or assumed.
So the core of rights analysis is to determine who is responsible for the debt, and this is why rights analysis is important.
If a rights analysis is conducted and the successful bidder is required to assume the debt, should such an item not be bid on?
--- p.15
If the successful bidder fails to pay the balance, the deposit will be forfeited (non-refundable) and the item will enter the resale process.
This lesson can be learned by not properly analyzing your rights, which can lead to the loss of your precious deposit.
Such lessons are sufficient through indirect experience.
What I personally experience is 'recommendation'.
I went to the auction, but I was scared for a moment when I found out I was the sole successful bidder.
weird.
I wonder if I made a mistake in my rights analysis.
Having a lot of competitors actually makes me feel more at ease.
When a cafe member advised the previous successful bidder that he should pay back the 65 million won debt, the successful bidder reportedly asked back, "Why should I do that?"
There are people who come to the auction court without knowing anything like this.
What can we do to avoid making these mistakes? Learning is essential! Studying is key.
--- p.19
The information recorded in the register of real estate includes basic information about the real estate (address, area, etc.), ownership and rights to ownership, debts, etc.
The 'right to erasure' mentioned above is also one of the rights recorded in the registration.
The right to completely clear out (delete) the various rights recorded in the register = the right to standard deletion.
Anyone can view the register of real estate.
Anyone who knows the address of the property can view it.
You can apply for inspection at the registration office (or online registration office).
You can see any house, not just your own, but also the house next door, the house above, or the house below.
For example, when dealing with an apartment, whether buying, selling, renting, or acquiring one, you need to know who owns the apartment and whether or not they have any debts.
So, the law stipulates that anyone can view the register of real estate.
If you (or your child) are in a relationship, just quietly find out the other person's address.
And then I take off the registration a little bit.
Ah~ Whose house is this?
Or you may be able to figure out that you have a lot of debt.
--- p.37
According to the provisions of the right to object (Article 3, Paragraph 1 of the Lease Protection Act) that we have learned so far, the tenant's right to object becomes effective the day after moving in.
Accordingly, if the mortgage establishment date and the move-in date are the same, the tenant will have a lower priority and will have no right to object, and the probability of not receiving the deposit will also increase.
Fraudulent cases sometimes occur by exploiting this countervailing clause, where landlords take out loans without the tenant's knowledge.
This is a method of hiding the fact that a loan will be incurred from the tenant until the tenant signs a lease and pays the balance, and then executing the loan as soon as the balance is received on the day the tenant moves in.
In that case, the bank mortgage and the tenant's move-in occur on the same day, and according to Article 3, Paragraph 1 (opposition clause) of the Lease Protection Act, the tenant has opposition from the next day and becomes a junior tenant.
After these frauds occur…
--- p.59
Saying that you didn't request a dividend means you don't know about the tenant's deposit.
The court doesn't know, and since the court doesn't know, we don't know either.
If you don't understand, go back and look at the dividend claim section again.
How did they know this tenant's deposit was 60 million won? It was in the rights analysis provided by the company, right? So how did the company know? The court's distribution request doesn't include information that suggests the 60 million won may or may not be the amount listed there.
You shouldn't take that at face value.
If the tenant makes a demand for distribution, you can trust the court documents (property description, current status report) containing the details.
If the content is different from the facts, you can have the bid rejected for that reason.
--- p.85
They say commercial properties are easy to get loans for. Why? Because the Commercial Tenancy Act doesn't adequately protect commercial tenants, banks rarely face problems due to tenants when building owners borrow money from banks, so they don't need to provide things like "room evictions" from their loan limits.
Anyone who has even the slightest interest in commercial real estate auctions knows that this is precisely why various YouTube videos, books, and lectures struggle to easily explain commercial real estate law, especially the parts related to auctions.
Because the law was revised in a makeshift manner, there are many loopholes and conflicting rights, and even those who explain the standing law are not fully aware of many of the parts.
--- p.144
The most important right of a tenant is to secure the right to object through moving in.
We studied cases where a tenant loses his or her right to object after changing his or her address (i.e., moving out).
It cannot be overemphasized that the transfer is maintained.
Receiving the deposit back and moving out are done at the same time….
It is simultaneous execution.
This is what I'm emphasizing, but I have no choice but to remove my address, and I can't get my deposit back.
What you do in that case is registering the lease.
The tenant's rights (move-in, confirmation, deposit) are recorded in the register.
If you do it that way, it's okay even if you move out without receiving the deposit.
The person who registered the lease is still entitled to be a tenant of the house.
--- p.175
Publisher's Review
The revised and expanded edition of ‘Small Tenant In-depth’
Provides practical assistance in rights analysis
We usually learn in books or auction classes that the first mortgage is the standard for judging small tenants.
This is because most auction cases arise due to mortgages.
In fact, you don't need to know anything about collateral rights or anything like that, and you can analyze most auction cases without any problems if you only know about mortgages.
There are that many.
?However, there are cases where the first collateral is not a mortgage.
Or, there may be multiple collateral rights in one case.
This book, 『Auction Textbook_Revised and Expanded Edition』, is particularly helpful in rights analysis by strengthening the focus on ‘small tenants.’
Surely! If I read this book thoroughly, will I earn as much as Seolma?
I have organized the PPT materials I used for my introductory classes into A4 paper and distributed them as textbooks, and have published them as a formal book.
It's a new feeling to have published a book.
There's something I've always wanted to tell you while doing auctions or teaching for the past 18 years.
“Auctions are not difficult.
Just because you're auctioning doesn't mean you have to do something difficult.
“You can make a lot of money by doing easy things.”
Why do foreclosures occur? How to collect debt.
The disappearance and acquisition of 'rights analysis', the most important thing in auctions.
The reason why there are items in auction is because there is a lot of debt.
If a house worth 200 million won has a debt exceeding 200 million won and the debt exceeds the value of the house, the homeowner (owner) gives up the house.
When the debt starts to exceed the value of the house, it becomes impossible to sell.
At this point, the landlord (owner) gives up the house.
What will a landlord do if they abandon the property? Or, more accurately, what will they not do? They won't repay the debt, they won't pay interest, and even if the tenant demands their deposit back, they won't be in a position to do so.
So the item is auctioned.
If you can't repay your debt, how will the creditor feel? It can't be good.
From the bank's perspective, since they have been receiving good interest so far, it is okay if they do not receive the principal.
There's no way this could happen, and from the tenant's perspective, since I've lived well in this house, it's okay to move out without receiving a deposit or anything.
There's no way this could happen.
Debt doesn't go away, it follows you to the end.
Who…? Of course, they go after the person who owed the debt, the debtor.
The debtor can never escape the shackles of that debt.
Until the debt, that is, the debt, is paid off… .
But in an auction, there is one more person who has to take responsibility for the debt.
The person who bought the house is the successful bidder.
This means, 'You bought the house knowing that there was a debt, so you should take responsibility for it.'
Ultimately, 'rights analysis' is about determining who is responsible for uncollected debt.
At this time, the term extinction/acquisition is used.
- Extinction: a right for which the debtor is responsible (i.e., a debt that the debtor must repay)
- Assumption: The right for which the successful bidder is responsible (i.e., the debt that the successful bidder must pay)
Where can I find auction information?
Free company when you only study
Auction information is all posted on the Supreme Court website, but it is very inefficient to just look at the Supreme Court information.
This is because there is only basic information (address and details of the occupant or tenant) about the item being auctioned.
In order to analyze other rights, the necessary information (copy of register, details of households moving in) must be checked separately.
To check such information, you have to visit each site individually, and the effort required to do so is considerable.
What is useful in these cases is an auction information provider that collects and provides auction information in one place.
Auction information companies can be broadly divided into two types.
There are paid and free companies.
Paid companies, of course, provide auction information in exchange for money.
The price range is slightly different for each company, so you can choose the one that best suits your circumstances.
If you search the internet, you will find a lot of free companies.
You can choose any of them.
When you first start out, it is less of a financial burden to use a free company.
Then, later, when you start to make serious investments, that is, bid, you can look at one paid company.
To be subject to the Standing Act
Scope of conversion deposit
Looking at the table setting the conversion deposit range, doesn't it seem familiar? It's almost identical to the table setting the range of small-scale tenants in the Housing Act.
The difference is that if it is not included in the conversion deposit, the standing law itself is not applied at all.
There is no need to memorize this.
Because you can just look it up whenever you need it.
- The provisions that are unconditionally applicable (and can be asserted) regardless of the conversion deposit are ① countervailing power (business registration + sales), ② right to request contract renewal, and ③ royalty.
- The provisions that can be asserted within the scope of the conversion deposit (if outside the scope, the standing law does not apply) are ① priority payment right (confirmation date), ② lease registration order, ③ tacit renewal, ④ conversion of increase or decrease in deposit and monthly rent, ⑤ highest priority payment right, and ⑥ mandatory provisions.
How to catch a fake tenant
Develop the habit of doing your own rights analysis…
A sham tenant is a tenant who has moved in but does not actually live there.
There are properties that no one bids on because they think there is a priority tenant, but it turns out that there is a fake tenant.
If you win an auction for something like that and kick out the fake tenant, it's a huge hit.
You can win the bid cheaply because no one will bid.
If you only move in on paper but don't actually live there, you are not a tenant.
Sometimes, when I watch hearings, I often hear talk of fake residency transfers.
That's exactly what I'm talking about.
It is illegal.
If you discover such a sham tenant, you can evict him or her through a title lawsuit and take back the house.
That is, it is not an acquisition but an extinction.
Let's assume something like this.
I won an auction for a house with a priority tenant, but when I went to see it, no one was living there.
I opened the door and went in, and there was only white dust piled up.
It's clear that there is a fake tenant.
And file a lawsuit.
Then the tenant (or the person claiming to be the tenant) said, "I don't walk on the floor."
He claims that it flies gently over the corner of the desk and the back of the chair.
There is no trace of food being cooked, no refrigerator, and no trace of gas or electricity being used.
Then the person claiming to be the tenant said, 'I don't cook.
Eat only raw rice and pine needles.
He claims, 'I will soon be able to become a fabled person.'
I searched around and found that no one had seen this person in the past few months (or years).
There is no trace of this person having visited any of the nearby pharmacies, hospitals, or supermarkets.
Then, I went on a business trip (or residency or study abroad) overseas (or to the provinces).
Catching undercover tenants isn't easy.
You're a sham tenant, aren't you? So, how did you know? Do you think you'll just pack up and move out? [Possession & Move-in] Since you have a documented move-in, you're saying you're breaking the current occupancy. How are you going to prove it? It's usually not an easy task.
It's more profitable to bid on several other items while you figure out how to break that one.
Reading the many success stories is exciting and keeps my hands on the edge of my seat.
I think I can do that too.
When I see such success stories, I have to think, "Ah, I just read a martial arts novel."
If I were to read a martial arts novel and be like the main character, I wouldn't be able to shoot wind and jump off cliffs...
You can read it with that exact feeling.
Provides practical assistance in rights analysis
We usually learn in books or auction classes that the first mortgage is the standard for judging small tenants.
This is because most auction cases arise due to mortgages.
In fact, you don't need to know anything about collateral rights or anything like that, and you can analyze most auction cases without any problems if you only know about mortgages.
There are that many.
?However, there are cases where the first collateral is not a mortgage.
Or, there may be multiple collateral rights in one case.
This book, 『Auction Textbook_Revised and Expanded Edition』, is particularly helpful in rights analysis by strengthening the focus on ‘small tenants.’
Surely! If I read this book thoroughly, will I earn as much as Seolma?
I have organized the PPT materials I used for my introductory classes into A4 paper and distributed them as textbooks, and have published them as a formal book.
It's a new feeling to have published a book.
There's something I've always wanted to tell you while doing auctions or teaching for the past 18 years.
“Auctions are not difficult.
Just because you're auctioning doesn't mean you have to do something difficult.
“You can make a lot of money by doing easy things.”
Why do foreclosures occur? How to collect debt.
The disappearance and acquisition of 'rights analysis', the most important thing in auctions.
The reason why there are items in auction is because there is a lot of debt.
If a house worth 200 million won has a debt exceeding 200 million won and the debt exceeds the value of the house, the homeowner (owner) gives up the house.
When the debt starts to exceed the value of the house, it becomes impossible to sell.
At this point, the landlord (owner) gives up the house.
What will a landlord do if they abandon the property? Or, more accurately, what will they not do? They won't repay the debt, they won't pay interest, and even if the tenant demands their deposit back, they won't be in a position to do so.
So the item is auctioned.
If you can't repay your debt, how will the creditor feel? It can't be good.
From the bank's perspective, since they have been receiving good interest so far, it is okay if they do not receive the principal.
There's no way this could happen, and from the tenant's perspective, since I've lived well in this house, it's okay to move out without receiving a deposit or anything.
There's no way this could happen.
Debt doesn't go away, it follows you to the end.
Who…? Of course, they go after the person who owed the debt, the debtor.
The debtor can never escape the shackles of that debt.
Until the debt, that is, the debt, is paid off… .
But in an auction, there is one more person who has to take responsibility for the debt.
The person who bought the house is the successful bidder.
This means, 'You bought the house knowing that there was a debt, so you should take responsibility for it.'
Ultimately, 'rights analysis' is about determining who is responsible for uncollected debt.
At this time, the term extinction/acquisition is used.
- Extinction: a right for which the debtor is responsible (i.e., a debt that the debtor must repay)
- Assumption: The right for which the successful bidder is responsible (i.e., the debt that the successful bidder must pay)
Where can I find auction information?
Free company when you only study
Auction information is all posted on the Supreme Court website, but it is very inefficient to just look at the Supreme Court information.
This is because there is only basic information (address and details of the occupant or tenant) about the item being auctioned.
In order to analyze other rights, the necessary information (copy of register, details of households moving in) must be checked separately.
To check such information, you have to visit each site individually, and the effort required to do so is considerable.
What is useful in these cases is an auction information provider that collects and provides auction information in one place.
Auction information companies can be broadly divided into two types.
There are paid and free companies.
Paid companies, of course, provide auction information in exchange for money.
The price range is slightly different for each company, so you can choose the one that best suits your circumstances.
If you search the internet, you will find a lot of free companies.
You can choose any of them.
When you first start out, it is less of a financial burden to use a free company.
Then, later, when you start to make serious investments, that is, bid, you can look at one paid company.
To be subject to the Standing Act
Scope of conversion deposit
Looking at the table setting the conversion deposit range, doesn't it seem familiar? It's almost identical to the table setting the range of small-scale tenants in the Housing Act.
The difference is that if it is not included in the conversion deposit, the standing law itself is not applied at all.
There is no need to memorize this.
Because you can just look it up whenever you need it.
- The provisions that are unconditionally applicable (and can be asserted) regardless of the conversion deposit are ① countervailing power (business registration + sales), ② right to request contract renewal, and ③ royalty.
- The provisions that can be asserted within the scope of the conversion deposit (if outside the scope, the standing law does not apply) are ① priority payment right (confirmation date), ② lease registration order, ③ tacit renewal, ④ conversion of increase or decrease in deposit and monthly rent, ⑤ highest priority payment right, and ⑥ mandatory provisions.
How to catch a fake tenant
Develop the habit of doing your own rights analysis…
A sham tenant is a tenant who has moved in but does not actually live there.
There are properties that no one bids on because they think there is a priority tenant, but it turns out that there is a fake tenant.
If you win an auction for something like that and kick out the fake tenant, it's a huge hit.
You can win the bid cheaply because no one will bid.
If you only move in on paper but don't actually live there, you are not a tenant.
Sometimes, when I watch hearings, I often hear talk of fake residency transfers.
That's exactly what I'm talking about.
It is illegal.
If you discover such a sham tenant, you can evict him or her through a title lawsuit and take back the house.
That is, it is not an acquisition but an extinction.
Let's assume something like this.
I won an auction for a house with a priority tenant, but when I went to see it, no one was living there.
I opened the door and went in, and there was only white dust piled up.
It's clear that there is a fake tenant.
And file a lawsuit.
Then the tenant (or the person claiming to be the tenant) said, "I don't walk on the floor."
He claims that it flies gently over the corner of the desk and the back of the chair.
There is no trace of food being cooked, no refrigerator, and no trace of gas or electricity being used.
Then the person claiming to be the tenant said, 'I don't cook.
Eat only raw rice and pine needles.
He claims, 'I will soon be able to become a fabled person.'
I searched around and found that no one had seen this person in the past few months (or years).
There is no trace of this person having visited any of the nearby pharmacies, hospitals, or supermarkets.
Then, I went on a business trip (or residency or study abroad) overseas (or to the provinces).
Catching undercover tenants isn't easy.
You're a sham tenant, aren't you? So, how did you know? Do you think you'll just pack up and move out? [Possession & Move-in] Since you have a documented move-in, you're saying you're breaking the current occupancy. How are you going to prove it? It's usually not an easy task.
It's more profitable to bid on several other items while you figure out how to break that one.
Reading the many success stories is exciting and keeps my hands on the edge of my seat.
I think I can do that too.
When I see such success stories, I have to think, "Ah, I just read a martial arts novel."
If I were to read a martial arts novel and be like the main character, I wouldn't be able to shoot wind and jump off cliffs...
You can read it with that exact feeling.
GOODS SPECIFICS
- Date of issue: January 18, 2023
- Page count, weight, size: 240 pages | 728g | 188*257*18mm
- ISBN13: 9788965020042
- ISBN10: 8965020042
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