法拍屋拍賣程序研究-以第一價位密封競標拍賣及英式拍賣為例

The Executive Procedure in Foreclosure - an example of First Price Sealed-bid Auction and English Auction

張正昌(Chen-Chang Chang)

指導教授 ： 林正平

國立臺北科技大學/工程學院/土木與防災研究所/碩士(2010年)

摘要

我國於2008年中旬遭受全球金融海嘯衝擊，導致民眾經濟能力與消費能力下滑。就房地產市場而言房仲業者及民眾對於投資預售屋、新成屋及中古屋等不動產投資皆呈現買賣意願降低之情況，同時因無法支付房屋貸款的失業人口增加，使得法拍屋的數量不斷增加，以2008年前三季為例每月法拍屋平均新增6,000件，至第四季，每月法拍屋已突破萬件釋出，而至2009年每月的新增拍賣件數仍維持上萬件之數量。法拍屋須經法院程序進行，交屋時間較一般房屋交易時間長，造成債權人(或銀行)、債務人資金壓力。
本研究將探討採用不同的拍賣方式使債權人所拍賣之不動產是否有不同選擇及結果。將第一及英式拍賣制度於不同價位之地段對投標價格之影響，本研究使用情境模擬兩種拍賣方式會產生何種情況，以期望政府提供債權人選擇適合之拍賣制度，研究結果發現法院所公告底價金額高低對於兩種拍賣方式所得到的結果並不成一固定比例，因法院無法考慮到建築物其他附屬條件，但模擬結果發現競爭力越高價位越高之標的物選擇英式拍賣能拍出較第一拍賣價格高。

關鍵字

法拍屋 ； 拍賣制度 ； 投標心理

並列摘要

In our country, the impact of financial crisis which broke out in 2008 results in financial distressand weakened consumer confidence. With the unemployment rising, home foreclosure was increasing as well.As an illustration, during the fore three quarters in 2008, there are 6,000 at an auction per month in average. In the forth season, they are over 10,000 per month. In 2009, that foreclosures are stilled filed over 10,000 a month.Due to the complicated procedure and long payment terms, biding for foreclosures places more financial pressure on the creditor (or banks) and the buyer than the real estates transactions did.
In this essay, we are going to discuss the options and outcomes of bids in different auction system while the creditor auction off the foreclosure by means of simulating the conditions in first price sealed-bid auction and in English auction and then comparing them both. Based on the research, the upset price announced by court is not proportion to the purchase price in these two auction system.Because of the court can not take the affiliated factors in to account.Last but not least, the simulation concludes that the more competitive and expensive objective auctioned off in English auction system could be sold in higher price.

並列關鍵字

Home Foreclosure ； Auction System ； Bidding Expectations

參考文獻

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[1] Abraham Maslow(1954), Motivation and Personality. New York：Harper & Row. p.80—106.