Want to ask all sifu.

Kota Kemuning, Double Storey, 20x70, Freehold.
Have seen the condition, not bad from outlook and the living hall.

Auction start from 230k.

What do you guyz think? Not bought for own use.

Thanks.

This post has been edited by mingyew: Mar 16 2010, 01:23 PM

Hi mingyew,

Is this the first round auction for that property? Advice you to check on the subsale prices of similar houses in that area first to see if RM230k is a worthwhile price.

http://www.iproperty.com.my/property/searc...999&ns=1&sby=ap

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so cheap rm230K? kemuning utama there already at least rm380k

Do a land search 1st.

Find out if there's any caveat lodged on the property.

What is the street or address for the unit? Different areas different prices within Kota Kemuning. However 230k does sound cheap. if not mistaken normally should be going around 270k and above.

Best advice ever and do beware of touts & syndicates at these so called 'auction'.

thx everyone for advise.

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Added on March 11, 2010, 9:10 amCannot compare with KU.

KU is modern design, spacious and newer.

This 1 is KK first phase property and only 20x70 land size.

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Added on March 11, 2010, 9:12 amIs located at Jln Anggerik Aranda 2x . Yes is cheap and as u said... usually is around 270k.

Becos is cheap then a bit worry

This post has been edited by mingyew: Mar 11 2010, 09:12 AM

Oh ok, Those are the first phase units so slightly older but matured area. Market price should be around 270-300k depending on condition, location, etc. Just make sure its freehold because there are some units there that are leasehold. Good luck

How does auction price and market value (bank valuation) related?

equal, higher, lower or no relationship??

also check with neighbor for history. some house may be crime scene etc etc etc..

Have checked. but no use, left neighbour empty. right labour just move in, dunno anything.

sigh

I think nearby is industrial area, you might want to check the air quality there.

Usually for first round auction, the reserve price (minimum bid) will be the bank value.

Then 2nd round they will lower by 10%, 3rd round lower another 10%, keep lowering till someone buys or its taken off the auction.

In anyone need home loan for auction property, just contact me and I'll try to get you the current best package that suits your needs.

Regards,

hi roy! find me a good prop bargain and i'll use your service for my loan

Well depends on what's your definition of "good prop bargain"?

updated: just back from auction.

Damn it, 12 ppl + owner bid back till 280k.

Waste lot of time, but learn lot of thing

Kemuning area is quite hot recently and i am not entirely surprised. I guess if it sounded like a good deal then many others would have thought the same.

But there are still a lot of other areas in Kemuning that you can consider. Anggerik Aranda is one of the oldest phases. Personally speaking if you can increase your budget a bit it would be better to find houses on the other side like in oncidium, doritis, etc as these are further away from the river and factories compared to aranda.

Good luck

Thanks a lot.

Actually i eye for bukit rimau, which more spacious (24x80)
last time selling like 250-280k (when i still student and no money). but now oredi boomed.

nowadays buyers in auctions are really losing their mind when bidding, so often that those props in hot spots sold higher than market price, will really wasting your time and effort if you try to sapu cheap stock in auction nowadays.

Bukit rimau area generally commands a lower price than Kemuning although they are located side-by-side. In the past it was issues with land being soft/cracks and lower upkeep of the surroundings/landscape but nowadays not too sure.

The whole kemuning area prices all already shot up in the last 6-9 months so there are really no "good deals" left if that is what you are eyeing for. The new highway, carrefour, giant, kfc, pizza hut and columbia hospital that is being introduced within the span of year might have been one contributing factor. This area is good for staying but i am not sure if its a good place for investment in the sub-sale market. The last phases of landed property is the east side of Kemuning area that is being developed.

Cheers

Care to share what you've learn?

The detail i think u better dig yourself which will very benefit you.

But I juz can tell you, court case have minimun risk but amount each bid is very high.

private bid have lot of risk.