Sale price of your property
In general, the bailiff fixes the sale price of each item of property seized before it is put on sale. Depending on the nature or value of the property, the bailiff may obtain an assessment from an expert.
In general, your property must be sold to the highest bidder, in your interest and the interest of your creditors, at a commercially reasonable price and using the most suitable method in the circumstances. However, it may sometimes be sold to a lower bidder if:
- the conditions of the highest bid make it less advantageous than a lower bid;
- the price bid is not commercially reasonable.
If the officer conducting the sale may end the sale, in your interest and the interest of your creditors.
The officer conducting the sale of your property may not place a bid directly or indirectly, or become the owner of the property.
For more information on the sale of your property, contact the officer responsible for the sale.