Subsection 5: Payment of the price

Payment to the escrow agent or deposit with the Caisse des Dépôts et Consignations of the price to which the successful bidder is liable pursuant to article L. 322-12 shall be paid within two months of the date of the final auction, failing which the bids shall be repeated. Once this period has elapsed, the sale price is automatically increased by interest at the legal rate until the price has…

Where the funds are held in escrow, they earn interest at a rate set by the terms and conditions of sale, which may not be less than the interest rate paid by the Caisse des dépôts et consignations. The interest accrues to the creditors and, where applicable, to the debtor, and is distributed to them together with the price of the property.

The costs of prosecution and, where applicable, of any higher bids and transfer duties are paid by the successful bidder in addition to the price. Proof of this must be provided to the court clerk’s office before the expiry of a period of two months from the date of the final award, failing which the bids may be repeated. Any stipulation to the contrary is deemed unwritten.