Key service · 경매 대행
Proxy Bidding at Korean court auctions
Proxy bidding means ZIBEX attends the Korean court auction in person and bids on your behalf, within a maximum bid you approve — so you can buy without being in Korea or speaking Korean.
- Korean auctions are won at a single in-person event, in Korean, on a fixed date — the practical barrier for foreign buyers.
- Due diligence sets a hard maximum bid that you approve; we never bid above it.
- The bid deposit (commonly 10% of the minimum price) is returned by the court if you don't win.
- You get the result the same day — and a clear path into balance payment and handover.
Overview
What proxy bidding is — and why it exists
Proxy bidding is ZIBEX attending the Korean court auction in person and placing your bid for you, within a maximum you approve in advance — so you can win a property without being in Korea, speaking Korean, or taking the day off to stand at a courthouse.
Korean court auctions are won on a single in-person event. Miss the deadline, the format, or a document, and you simply can't bid. Proxy bidding removes that barrier: after due diligence sets your hard ceiling, we prepare the deposit and paperwork, attend the sale, and bid within your limit — then report the result the same day.
Why it's needed
Doing it yourself vs. proxy bidding
The barrier for foreign buyers is practical, not legal. Here's the gap proxy bidding closes.
| Step | On your own | With ZIBEX proxy bidding |
|---|---|---|
| Be at the court | Attend in person on a fixed date | We attend for you |
| Language | Forms & process in Korean | Handled in Korean; you work in English |
| Bid deposit | Prepare a cashier's check (보증금) yourself | We prepare and lodge it under your mandate |
| Documents | Power of attorney, ID, seals | We tell you exactly what to sign |
| Bid discipline | Easy to overpay in the room | We never exceed your approved maximum |
| If you lose | Reclaim the deposit yourself | Deposit returned per court rules; on to the next target |
The number that matters
How your maximum bid is set
A win is only a good win below a price that leaves you safe. We set that ceiling before the sale — and never cross it.
권리분석
Which rights and debts survive the sale, and which are erased — this decides whether a lot is safe at all.
Real value, not appraisal
We price against recent actual transactions, not just the court's appraised value.
All-in math
Acquisition tax, eviction, repairs and time are subtracted to protect your margin.
Your money
Deposit & safeguards
- The bid deposit is typically 10% of the minimum price, lodged for that sale only.
- We bid strictly within the maximum you authorised — never above it.
- If we don't win, the deposit is returned per the court's rules.
- If we win, it counts toward the price; the balance is paid by the court's deadline.
What you get
- → A pre-approved maximum bid you control
- → Deposit & documents prepared for you
- → In-person bidding at the court on the date
- → Same-day result and next steps
- → A clear path into balance payment & handover
Costs & timeline
Fees and how long it takes
Timing follows the court calendar: once a target is chosen and due diligence is done, bidding happens on that lot's scheduled sale date. If you win, the balance is due by the court's payment deadline (commonly within about a month).
Step by step
How proxy bidding works
Mandate & power of attorney
You authorise ZIBEX to bid for you with a power of attorney (위임장).
Due diligence sets the ceiling
Rights analysis (권리분석) and valuation produce a hard maximum bid that you approve.
Prepare deposit & documents
We prepare the bid deposit (입찰보증금) and the paperwork for the sale.
Attend the court & bid
On the sale date we submit the bid form (입찰표) at the date auction (기일입찰), within your limit.
Same-day result
Win → sale-permission decision (매각허가결정) and next steps; lose → the deposit is returned.
Balance & handover
If you win, the balance is paid by the deadline (대금지급기한); we move into title, tax and handover.
Glossary
Key terms, in plain English
FAQ
Proxy Bidding, answered
Can you bid for me if I can't attend the auction?
Yes — that's the point. Korean court auctions are in person, in Korean, on fixed dates. Under a power of attorney you sign, we prepare the deposit and documents and bid on your behalf within a maximum you approve.
How is the maximum bid decided?
From due diligence: rights analysis (권리분석), a valuation against recent real transactions, and all-in costs and risk. That produces a hard ceiling — and you approve it before we bid.
Is my deposit safe when ZIBEX bids?
The bid deposit follows the court's process and your mandate. We never bid above your approved maximum, and if we don't win, the court returns the deposit under its rules.
What happens if we don't win the auction?
The deposit comes back per court rules and we move to the next target on your shortlist. We'd rather pass with discipline than overpay to win.
Do I need to travel to Korea?
No. From approving the bid to handover, the process is handled remotely. We attend the in-person auction so you don't have to.
How fast do I get the result?
Korean date auctions resolve on the day — you get the outcome the same day, with the immediate next steps if you've won.
What do you need from me to bid?
Mainly a signed power of attorney and identity documents, plus your approved maximum bid. We tell you exactly what to sign and when.
This page is general information for foreign investors, not legal or investment advice. Auction procedures, deposit amounts and deadlines are set by the court and can vary by case; figures shown are typical, not guarantees. Auctions carry risk, including loss of principal. ZIBEX runs rights analysis on every lot and bids only within a maximum you approve.
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