A person who purchases a property in a compulsory auction must confirm in writing to the auction authority after the bid is accepted whether he or she is a foreign non-resident, or whether he or she is acting on behalf of a foreign non-resident; notice of this requirement and of the requirement that foreign non-residents obtain authorisation for the acquisition of immovable property must be given to the purchaser in the auction conditions.
Where it is certain that authorisation is required and no legally binding authorisation has yet been granted, or if the requirement of authorisation cannot be excluded without further enquiries, the auction authority shall, subject to notice to the land registrar, allow the acquirer ten days to:
obtain authorisation or confirmation that the he or she does not require authorisation;
obtain a guarantee that the purchase price will be paid; while the guarantee is effective, interest is due on the price at 5 per cent per annum;
arrange a guarantee for the costs of a further auction.
If the acquirer fails to meet the deadline or if the authorisation is refused in a legally binding decision, the auction authority shall rescind its acceptance of the bid, giving notice thereof to the land registrar, and order a new auction.
The decision by the auction authority to rescind acceptance is subject to a right of appeal to the competent cantonal appellate authority under this Act; this appeal takes the place of an appeal to the supervisory authority for debt enforcement and bankruptcy.
If a lower bid must be accepted in the subsequent auction, the successful bidder in the first auction is liable for the difference in bids and any additional losses.