Fee bracket applicable to a property auction

23/05/2017
The Minister of Finance promulgates Circular No. 45/2017/TT-BTC on bracket of property auction fees in accordance with the Law on property auction.

 Fee bracket applicable to a property auction contract in case of successful auction is defined as follows:

a) Minimum fee: VND 1,000,000 per contract;

b) Maximum fee equivalent to each bracket of property value by starting prices prescribed in Appendix issued herewith, but not exceeding VND 300,000,000 per contract.

Auction fees prescribed in Clause 1 of this Article excludes VAT but includes reasonable and valid expenses charged by auction companies for the property which have been put up for auction as prescribed.
In case of unsuccessful auction, the seller must pay to the auction company for reasonable and valid expenses as specified in the auction contract in accordance with Clause 2, Article 66 of the Law on property auction, but not exceeding the amount of auction fee in case of successful auction.

The seller shall come into an agreement with an auction company on fee and specific auction expenses and specify it in an auction contract according to the results of auction company selection and regulations on auction fees in accordance with the Law on property auction, but not exceeding the maximum and not less than the minimum of the fee bracket prescribed in Clause 1 of this Article.

Within 20 working days from the date on which the closing day of auction, regardless of successful or unsuccessful case, the seller must pay to the auction company for fee or expenses associated with public notices on bulletin board, and other reasonable expenses prescribed in Clause 2, Article 66 of the Law on property auction; unless otherwise agreed upon by the parties or prescribed by law.
The management and use of auction fees, expenses associated with property auction, service charges and other amounts receivable of auction companies are prescribed in Article 68 of the Law on property auction.
Each auction company must put up notices of auction fee publicly according to each administrative division where the auction is held; comply with regulations of law on prices, property auction and their guiding documents.

Auction companies shall use service invoices as prescribed in the Government's Decree No. 51/2010/ND-CP dated May 14, 2010 on sale invoices and service invoices; the Government's Decree No. 04/2014/ND-CP dated January 17, 2014 on amendments to the Government's Decree No. 51/2010/ND-CP dated May 14, 2010 on sale invoices and service invoices; Circular No. 39/2014/TT-BTC dated March 31, 2014 of the Minister of Finance on guidelines for the Government's Decree No. 51/2010/ND-CP dated May 14, 2010 and the Government's Decree No. 04/2014/ND-CP dated January 17, 2014 on sale invoices and service invoices, and their replaced or amended documents (if any).