Chapter 83: 83
Several days passed by after Gun-Ho's parents moved into the new condo .
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Gun-Ho received a phone call from the consulting firm in Seocho Town .
"The first auction for the TowerPalace condo you are interested in has failed as expected, and the next auction is scheduled the day after tomorrow . Are you aware of it?"
"Yes, I already prepared the bid deposit . "
"The day before yesterday, I verified the auction documents of that condo and visited the condo as well . Its location is very nice . "
"Oh, really? Thank you for your work . "
"You don't have to worry about the secured creditors listed in the real estate registration after you buy the property at the auction; they will be all released . I already checked the statements on the property, tenancy document, and the appraisal report . I didn't see any problem . "
"Oh, good to know . "
"There is no tenant who could exercise any right on the property . The condo is actually occupied by the owner . "
"Oh, I see . "
"On the auction day, I will arrive at the court earlier . When you come, don't forget to bring your ID and your stamp . Also, bring more money than the bid deposit in case there is a competitor we have to beat . "
"How much more do you think I should prepare?"
"I recommend bringing 20 million won . You possibly will not use all of them if there are not many competitors . "
"Okay, I will prepare them . "
"I will guide you through the process . I will see you then . "
"Okay, thank you . "
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On the auction day, Gun-Ho went to Seoul Central District Court in Seocho Town . There were a lot of people at the court . Some people were distributing information sheet about the auction at the court entrance .
"Mr . Gun-Ho Goo, I'm here . "
Manager Oh from the consulting firm was already there waiting for Gun-Ho . He was wearing the same sports cap, and he was chewing a gum .
"Since the TowerPalace condo is an expensive property, I don't expect many people bidding on it . Why don't you take the bidder's ticket and envelope over there?"
Manager Oh seemed to have another client he had to assist that day; he was waiting for someone .
"The bailiff of the court will conduct the auction . When you write your offer price, you must be very careful . If you write the wrong number, you could lose your bid deposit . Verify the case number closely . "
Manager Oh was greeting someone who he had been waiting for . It was a middle-aged woman .
"Ma'am, I think there will be quite a lot of competitors for the property you are interested in because that commercial building is making money . "
"Then what should I do? I really want that building . "
"Add two more to the price . "
A man who was passing stopped to say hi to Manager Oh .
"Hey, are you participating in the auction for this lady as well? Why don't you skip this one?"
That man glanced at the lady and smiled .
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Someone asked to be quiet and get ready for the auction . It seemed like the auction would start soon . Gun-Ho sat on a chair . The courtroom was filled with people and some people were standing at the back of the room because there was no empty seat in the room .
At the ring of the bell, the bailiff announced that the auction had started . He started off with a short introduction of guiding the participants what to expect during the auction .
Gun-Ho wrote his offer price of 1,512 million won as instructed by Manager Oh earlier, and included the bid deposit of 151 . 20 million won in the envelope . The bid deposit was 10% of the offer price .
"Our father in heaven, please allow me to win this time!"
Gun-Ho submitted the envelope while praying to God . It seemed like there were three people including Gun-Ho competing for the same condo .
Gun-Ho looked around .
There was no gentleman wearing a suit or a fashionable lady at the courtroom; only men and women wearing a jacket or a coat, who could ordinarily be seen in the subway station . There were some properties with a starting price of several billion won like a commercial building or a condo in Gangnam . Gun-Ho thought some of these people must have that much money to pay for those properties .
After everyone in the courtroom submitted their offer price, the bailiff announced that the bidding was over . A staff standing next to the bailiff opened each envelope for a specific real property, and he let the bailiff know who won the auction . The bailiff then announced the case number, the successful bidder's name, and the auction price .
"Case number 000, Mr . Gun-Ho Goo who offered 1,512 million won the auction . "
"I got it!"
Gun-Ho jumped up from his seat, walked to the bailiff, showed his ID to him, and then received the successful bidder's ticket .
After Gun-Ho walked out of the courtroom, Manager Oh was waiting for him while still chewing a gum .
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"Congratulations . "
"How do you know already?"
"I heard it outside the door . "
"Then are you going to start the process?"
"No, we need to wait until the due date of the filing of the appeal . During that period, the owner or anyone who has an interest in this condo can make an appeal for the sales decision . I don't think anything will happen, but we have to wait by then . "
"Oh, really? For how long should we wait?"
"If nothing happens in ten days, then prepare the remaining funds for the condo price . "
After ten days, Gun-Ho received a call from Manager Oh of the consulting firm .
"Ten days is up . I will start negotiating with the owner who is occupying the condo . If you want to make the process smooth, you need to pay him the moving cost . You have heard of paying the moving cost, right?"
"I learned about it during training . How much do you think would be adequate?"
"It depends on the person . Some could ask 10 million won . We never know . "
"Is it legally required?"
"No, but the occupant could refuse to move out really hard . They usually have nothing to lose at this stage, so it is really hard if they decided to resist . "
"What do we do if that happens?"
"Don't worry about it . That's our job . We sometimes threaten them or convince them . If they refuse to move out even after the unlawful detainer suit, we will drag them out with their belongings . "
"Oh, wow…"
Gun-Ho thought the auction sale for a residential property where a person was still living in could be really harsh to the occupants, unlike a building or a land .
"Well, do what you have to do . Please negotiate to reach a good price but do not raise your voice during the process . "
"Okay . I will let you know after I meet with the owner . "
Gun-Ho thought he made the right decision to let a consulting firm handle the whole process rather than handling it himself .
"I hope I could move in within a month . "
Gun-Ho had to withdraw money from his stock account to prepare the remaining price of his condo . He could just withdraw using an ATM if the amount was small, but he had to visit the office for a large amount of money . The branch office that was holding Gun-Ho's account was located in Suwon City . He had to go that far .
"I have to go that far . Once I move to the TowerPalace condo, I will move my account . I went there last time when I had to pay for my parent's condo in Guweon Town . I have to go there again . Let's transfer around 3 billion won to my bank account this time; I might need the money later to open my own business .
When Gun-Ho requested the transfer of the funds, the staff lady at the stock branch office was astonished .
"3 billion won?!"
Gun-Ho was sitting on a chair when a middle-aged man wearing glasses came to him urgently .
"Mr . Gun-Ho Goo? Hi, I am the manager of this branch office . "
The branch manager bowed respectfully to Gun-Ho . Gun-Ho came here for his parents' condo last time, but the branch manager was not here .
"Why don't you come to my office and have a cup of tea?"
Gun-Ho thought it could be tiresome, but he stood up from his seat and followed the branch manager to his office .