Publicity, transparency and objectivity in property auction activities

(Baothanhhoa.vn) - On June 29, 2024, the National Assembly passed the Law amending and supplementing a number of articles of the Law on Property Auction. The Law takes effect from January 1, 2025 with many positive new points, which are assessed to contribute to enhancing the responsibility of people with auctioned assets, auctioneers, and property auction organizations, ensuring consistency and synchronization with relevant legal documents. In Thanh Hoa, after 6 months of the new provisions of the law being applied in practice, property auction work has become increasingly systematic and effective.

An auction of land use rights in Hoang Tan commune (now Hoang Loc commune).

According to the report of the Department of Justice, there are currently 39 property auction organizations operating in the province, including 38 companies, 4 branches, 1 property auction center with 49 auctioneers. Property auction work in the province has had many positive changes. Agencies and units strictly implement the provisions of the law in selecting auction organizations and in organizing property auctions. In 2024, property auction organizations organized 552 auctions, of which 373 auctions were successful; starting price 4,800 billion VND; selling price 6,600 billion VND; collecting auction service fees of nearly 18 billion VND, paying 2.0 billion VND to the State budget. In the first 6 months of 2025, auction organizations organized many asset auctions, with a high success rate, higher winning prices, and even some auctions with winning prices many times higher than the starting price, including auctions of public assets and assets of land use rights, contributing to increasing budget revenue and actively contributing to investment and socio -economic development in the locality.

Regarding the State management of property auction activities, the Department of Justice has coordinated with departments and branches to advise and resolve difficulties and problems in property auctions according to the provisions of the 2024 Land Law and guiding documents for implementation; guiding localities in selecting organizations to auction land use rights according to the provisions of the 2023 Bidding Law. In the first 6 months of 2025 alone, the Department of Justice has provided opinions on 9 land use rights auction plans, organized 2 conferences to disseminate and popularize the contents of property auction law; appraised dossiers and re-issued business registration certificates for 9 auction companies; revoked property auction practice registration in 1 case.

In particular, to strengthen the State management of asset auction activities, focusing on land use rights auctions, the Department of Justice regularly organizes training courses, professional development courses and implements newly issued legal documents in the field of asset auctions. Inspect the organization and operation of asset auction organizations. At the same time, issue official dispatches to guide and request asset auction organizations to strictly and fully implement the provisions of the law on asset auctions and land use rights auctions; be public, transparent, fair and objective in organizing asset auctions; not set additional conditions to cause obstacles and difficulties for auction participants; strictly implement the procedures for asset auctions, especially in organizing the sale of auction participation documents, collecting and handling deposits, viewing auctioned assets, and organizing auction sessions.

Mr. Nguyen Anh Duc, Director of Duc Anh Joint Stock Auction Company, said that property auction activities in the province have been socialized and are becoming more professional and effective. In particular, from January 1, 2025, many new regulations on time, order, and procedures for property auctions in a strict, public, and transparent manner have created a clearer legal basis for auction organizations to have a basis for implementation.

An auction of land use rights was held in May 2025 in Quang Dong ward (now Quang Phu ward). Photo: Illustration

For example, the change in regulations on the time of selling documents, collecting documents, and collecting deposits has facilitated auction organizations in reviewing and counting documents and participating customers, especially in auctions with a large number of customers. The new law also clearly stipulates the responsibility of the owner of the auctioned property in reviewing the conditions of auction participants and notifying the auction organization of the list of people who meet the requirements to participate in the auction. This specific regulation will also contribute to binding the responsibility of the owner of the auctioned property, the auction organization, the auctioneer, and the organizations and individuals participating in the auction.

In asset auction activities, ensuring publicity, transparency and objectivity is extremely important to protect the interests of the parties involved and maintain trust in the auction process. Ms. Nguyen Ngoc Linh Chi, Executive Director of Nhat An Phu Joint Stock Auction Company - Thanh Hoa Branch, said: To make asset auction activities transparent, it is necessary to be public and objective in selecting auction organizers, selecting capable and experienced units so that the auctions are successfully organized. When selected to participate, auction units need to develop an implementation plan, a security and order plan, a plan to prevent and limit violations. At the same time, the authorities need to accompany and coordinate with the auction units to organize successful auctions. Research and have sanctions for cases of entering the auction not for the purpose of auctioning but for other profiteering purposes.

Article and photos: Viet Huong

Source: https://baothanhhoa.vn/cong-khai-minh-bach-khach-quan-trong-hoat-dong-dau-gia-tai-san-254445.htm