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Time limit for payment of final payment after judicial auction.
Legal analysis: the payment time of the auction house's final payment varies from court to court, generally around 10- 15 days. After the auction is completed, the court shall inform the buyer that the final payment must be paid on time. If it is difficult to auction and pay off debts because the donee fails to pay the price or the difference, the people's court may order a new auction.
Legal basis: Provisions of the Supreme People's Court on Auction and Sale of Property in Civil Execution by People's Courts.
Article 23 If an auction is concluded or the debt is paid off with the auction property, the people's court shall make a ruling and deliver it to the buyer or recipient within 10 days after the price or difference should be paid off.
Article 24 After an auction is completed, the buyer shall pay the price to the people's court or remit the price to an account designated by the people's court within the time limit specified in the auction announcement or the time limit designated by the people's court.
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