La subasta se celebrará el día, hora y sitio indicado en el edicto, ante el alguacil que actúe en la sala del tribunal de primera instancia que atienda el procedimiento, sin que le sea lícito a este funcionario desviarse de los términos y condiciones de subasta señalados por el tribunal en su orden de venta.
Servirá de tipo para la subasta en este procedimiento el precio de la finca acordado entre los contratantes en la escritura de constitución de hipoteca y no se admitirá oferta alguna inferior a dicho tipo.
Si no se produce remate ni adjudicación en la primera subasta, el tipo mínimo para la segunda será las dos terceras (2/3) partes del precio pactado. Si tampoco se produce remate ni adjudicación en la segunda subasta, regirá como tipo de la tercera subasta la mitad del precio pactado.
Cuando se declare desierta la tercera subasta se adjudicará la finca a favor del acreedor por la totalidad de la cantidad adeudada si ésta es igual o menor que el monto del tipo de la tercera subasta, si el tribunal lo estima conveniente. Se abonará dicho monto a la cantidad adeudada si ésta es mayor. Todas las subastas deberán ser acordadas y celebradas según lo ordenado por el tribunal.
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