1. There is a reserve price for each property. In Singapore, the reserve price is set by the seller, developer, or the bank (in the case of a foreclosure). It’s usually a bit below the valuation price, but doesn’t have to be. 　

如果到了拍卖这一步,　说明房主真的拿不出钱了,　已经有破产(本地人) 或跑路的 (外国人) 心理准备了.　 如果拍卖价格过低,　银行要吞下差价损失,　记入坏帐.　　

2. Very few of the properties will get sold. I’ve been to auctions where none of them get sold. Why? The bids must meet the reserve. If they don’t, the property isn’t sold. More reasons why? Keep reading.

由于拍卖价格很少低过估价的5%.　买家不会很踊跃.　因为经济危机的时候,　有很多 firesales.　记得09年和16年的时候,　很多抄底买家一个房子一个房子的看,　然后报价比估值低10%以上.　捡到一个就算赚到.