A very popular condominium located in an expensive residential area of Tokyo has been publicly announced by the court as real estate for auction.
The property had already been sold in the regular real estate market through a real estate company at the time it was publicly announced by the court. When we examined the ""Certificate of All Matters,"" we found that the owner had borrowed a large amount of money from several creditors, and the asking price was rather high for the purpose of paying off the debt.
In addition, since the property had been foreclosed and the decision to start the auction was registered, many prospective buyers predicted that they would be able to win the property at a reasonable price if they won the auction through a real estate auction.
As a result, although there were many bidders because it was a very popular condominium, the successful bidder was able to win the auction at about 70% of the original asking price.