In 2022, the number of judicial auction houses in Jiangsu Province ranked first in the country, exceeding 200,000. Then Zhejiang and Henan in turn.
Legal auction house, that is, "court auction real estate", refers to the house that is forcibly auctioned by the court. When the debtor (owner) is unable to perform the loan contract or pay off the debt, the creditor applies to the court for compulsory execution through judicial procedures and auctions the house under the debtor's name to pay off the creditor's rights with the proceeds from the auction. The house being auctioned in this process is the auction house.