I was going to spend 670 million won, but I spent 670 billion won..."Failed" by mistake at the auction. [Y Record]

■ Host: Anchor Lee Jung-seop, Anchor Cho Ye-jin
■ Starring: Professor Heo Jun-young, Sogang University's Department of Economics

* The text below may differ from the actual broadcast content, so please check the broadcast for more accurate information. Please specify [YTN News START] when quoting.

◇Anchor> You're very interested in real estate and auction a lot these days, but one of the anecdotes now is that you failed by writing more zeros on the bidding table?

◆Huh Joon-young> It happened in an apartment in New Town, Eunpyeong-gu. When we do an auction, we usually go to the court and write an auction price. This apartment was originally priced at 800 million won and was once auctioned off. But once you're attracted, it drops to 80% of the appraised value. So the next lowest bid was 640, and I was trying to spend 670 million won, but I added three more zeros, so I don't think you were nervous or intended. So, I bid an apartment worth 640 million won for 670 billion won, and this was sold. The problem is that the auction cannot be canceled if it is sold. So even if you give up on this, the 10% cost of participating in the first auction is about 64 million won. This is an unfortunate situation where we cannot get it back.

◇Anchor> The auction system is handwritten, and as you said, auction beginners can make a lot of mistakes in writing down the bid price incorrectly, so I should be responsible even if it's a mistake, right?

◆Huh Joon-young> As I said earlier, we make a bid deposit at the lowest bid price, which is 10% of the auction price. So you probably paid 64 million won and went into the auction. Then, if you receive the successful bid, you will pay the remaining amount here. However, even if you give up the auction, you can't get back the 10% you paid. That's why you lost 64 million won. This happened in Dongtan and other places before. So I think mistakes are being made like this, such as spending 300 million won apartments for 300 million won, but as I said earlier, it seems that you are nervous about various things because this is being done in the court. So one of the things experts say is why don't you write a bid price at home, but I think this is happening because you go and write a bid price after looking at the situation.

◇Anchor> In the end, if I can't get 10% back and the rest of the parts, the cancellation is automatically canceled, right?

◆Huh Joon-young> That's right.

Excerpted from
: Lee Sun Digital News Team Editor

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