What should I do if the auction of the housing court is unsuccessful three times?

If the transaction cannot be concluded after three auctions, the people's court may compensate the creditors for the auctioned house at the reserve price of the third auction. When selling again, the price may be reduced as appropriate, but the amount of each price reduction shall not exceed 20% of the previous reserve price. If the person subjected to execution does not accept paying debts in kind, the court shall sell the house and still refuse to accept paying debts. The court may lift the seizure and freeze and return the house to the person subjected to execution. If the third auction fails and the applicant executor or other enforcement creditors refuse to accept the real estate or other property rights to pay off debts according to law, the people's court shall issue a notice of sale within seven days from the end of the third auction. If no buyer is willing to buy the property at the reserve price of the third auction within 60 days from the date of announcement, and the application executor and other enforcement creditors still do not accept the property to pay off their debts, the seizure and freezing shall be lifted and the property shall be returned to the person subjected to execution, except that other enforcement measures can be taken for the property.

"Provisions of the Supreme People's Court on Auction and Sale of Property in Civil Execution by People's Courts" Article 28 The original security interest and other priority rights of compensation on the auction property shall be destroyed by auction, and the proceeds from auction shall give priority to paying off the creditor's rights and other priority rights of compensation of the security interest holder, unless otherwise agreed by the parties. If the original lease right and other usufructuary right on the auction property are not extinguished by the auction, but the right continues to exist on the auction property, which affects the realization of the priority security right or other priority rights, the people's court shall cancel it according to law and conduct the auction.

What is the procedure for the court to auction houses?

Court auction procedure: 1, to the Housing Authority to seal up the property rights of the executed person; 2. Entrust an appraisal company to appraise the house value; 3, after the evaluation results, according to the evaluation value, determine the auction floor price; 4. Entrust an auction company to auction houses, and the auction activities shall be organized and implemented by the auction company; 5. If the auction is completed, the court will make a ruling to determine the legal effect of the auction result; 6. If there is no bid or the auction fails, the court may reduce the price by 10-20% on the basis of the reserved price of the first auction and entrust the auction company to auction again; 7. If the second auction still fails, the court can auction the house at a reduced price on this basis, and the house auction can be held for up to three times.