Unfortunately, YES
The Civil Procedure Law, Article 671, allows the performer in case of non-attendance of any bidder in the auction, bidding for goods by 50% or the total amount owed for all items. Given this possibility mostly by banks choose either the award of 50%.
The doing so also empowers them to continue claiming the difference to the debtor (art. 570 LEC) in principal, costs, expenses and interest on arrears to the final payment of all debt. This claim may be brought against present or future assets concerned.
Our recommendation to this type of situation (and provided that the total amount of debt be treated in the estimated value of your property) is to try opting for a compromise with the bank in lieu of payment. That is, ahead of the auction and offer your property as payment of all debt you have with the entity. Obviously the organization are reluctant to do so because their business is not property, but rather to recover the bad loans as soon as possible. So, unless you already have a buyer for your property, rejected his offer of payment in preference to reach auction if a potential buyer on it.
In light of the above recommendations (oddly enough) TO PROMOTE YOURSELF THE ASSISTANCE OF POTENTIAL BUYERS TO YOUR OWN AUCTION.
The purpose is thus to avoid the loss of their property by 50% of its value and thereby prevent the ability of bank's claim against you in the future by the difference in the debt and costs and interest in arrears would occur until full payment.
Article 671. Auction no bidder
If the act of the auction no bidder has not, the creditor may request the allocation of assets by 50 per 100 of assessed value or the amount owed for all items.
When the creditor, within twenty days, does not make use of that power, then proceed to lift the embargo, at the request of the debtor.
Article 570. Final Performance
Enforcement will only end with the complete satisfaction of the creditor.
