I happen to came across US actually have a website to bid for auction property.
What do you guys think if malaysia can bid for property auction online??
Any comments??
whether support this online bidding as a auction property buyer?
or still prefer buying auction property traditional method where you either go thru agent or attend the auction personally

This post has been edited by tonycts: Nov 30 2009, 10:41 AM

It will be good if we can have this kind of system in Malaysia. But i doubt so...as you know there are many parties involve in the traditional auction "party", if we do everything through the internet, many people will lose there job...lol

i no support online bidding

For me, it is totally NOT a good choice. How can you bid a property worth half a million online? Not to say above half a million? It will not work that way.

The purpose to hold an auction is to get the bidder to put in advance money before bidding.

I just went to bid a property a few days ago and personally I won't bid online.

Bidding online will be a convenience to everyone, but I think need to pay deposit to the auctioner in advance. But if the Internet connection is slow or disconnected, then the disadvantage is you lose the bid to other people.

I found US actually got online bidding for auction property.
I was thinking whether is it a good idea if malaysia do have such system.

Personally, i would rather go to bid property at auction house. I just don't feel comfortable in online bidding. There are things in US that are not really applicable in Malaysia (for now). Not guarantee in the future we might use one of those system, but for now I rather go to the auction house.

Online bidding is good, no need to waste time cos not everytime we can wind in our bid. At least doing it will save us time and parking fee. And it will make the bidding more exciting just like in e-bay.

if the auction house give all detail of the property b4 auction date is good.
I dun mind pay 10% advance before bidding date for serious buyer who want to bid and save time and SAVE big money from runner fee's.
Malaysia Infra still slow compare to SG,HK or USA. We still have problem like hang,disconnect not matter P1,Maxis or Streamyx..

i think with those online system
they provide the property listing like a week before the due date or so
everything is more transparent like how it should be