The judge increase the reserve price is because there are more than 1 bidder. Normally the judge will only do that if more than 5 bidders. If let say the judge adjust the reserve price and no bidder wanted to bid, the deposit will not be forfeited, but if a property got more than 5 bidders and judge increase few k, definitely sure got ppl bid one, just those who has lower budget got no chance to raise their hand only.
And, if single bidder for sure the judge won't adjust the price, it will be sold to the bidder at the reserve.
And sure there's reason why the judge adjust/increase the reserve price. You will know it if you have more experience in auction property.

Thanks for the secret info.

So you are saying that if there are only TWO bidders, they would not increase the reserve price ?

Normally no, because the judge don wan to end up with no bidding also.

Ya it is my bad for being late, i would not blame them for that. But the bailiff or registrar are being very very unfriendly and rude. Besides, i've seen one people register at 10.12am, but for another case, which i remember that guy and he won a single bidding. Maybe because that property has no one register that day that's why the bailiff allow him to do so.

I've to double check the clause that if more than 2 bidders, the reserved price will be increase. i remember i didn't read about something like that, or maybe i mis-read or something, let me double confirm...

I heard the east malaysia old man like very angry talking with a group of people, so i also curi2 sneak beside them and hear the story. He is very unsatisfied with the system here, and he also mentioned about the previous single bidder, he questioned the group of people if that is common in west malaysia for that the reserved price can be increase regardless of how many ppl are bidding for it. And seems like no one answering his question.

The single bidder case was before that east malaysia guy...so that time the east malaysia guy is inside the room..i viewed the entire auction at the side from the glass there only..and i noticed he sat down there alone quietly for 5 cases already. And then after the single bidder case, suddenly someone go and talk to him. And i supposed is his friend cause after that he stood up and stood behind the guy who talked to him when the auction start. there are 3 bidders.
Then after the auction, he and his friend walked out the door. And started to talk loudly, like dissatisfaction.

And micheal, how about the price increment? can they increase the price at any amount they like as well? like the property i'm bidding for, 20k increment was huge, given that the reserved price is +-RM250k only...

what if both the bidder do not suscpect that the reserve price at the high court auction will be increased, so both do not bid. Will their deposit get forfeited? because in cos, it stated that if any person deposit but do not bid, their deposit will be forfeited. Is this for single bidder only or apply to all?

Anyone can PM me where to check for good auction listing web or sources? thank you

The judge increase the reserve price is because there are more than 1 bidder. Normally the judge will only do that if more than 5 bidders. If let say the judge adjust the reserve price and no bidder wanted to bid, the deposit will not be forfeited, but if a property got more than 5 bidders and judge increase few k, definitely sure got ppl bid one, just those who has lower budget got no chance to raise their hand only.
And, if single bidder for sure the judge won't adjust the price, it will be sold to the bidder at the reserve.
And sure there's reason why the judge adjust/increase the reserve price. You will know it if you have more experience in auction property.

for laca, usually it will be at rounding up to the thousand if the reserve price is not rounded to the thousand. and increase will be per 1k

for laca, usually it will be at rounding up to the thousand if the reserve price is not rounded to the thousand. and increase will be per 1k

FYI, it was RM50k per bid for a dslh with reserve price at RM430k. Bailiff set the starting bid at RM500k. It seems to be a norm for hot properties nowadays. Maybe the bailiff wants to cut the process shorter.

Anyway, there is plus point to raising the reserve price and increment amount....helping genuine buyers. False buyers could be those who are making a living out of "settlement" or the owner's people trying to jack up the price. With a higher stake, these people would think twice before they raise their hands in the courtroom.
To me, the increased reserve price is no big deal because eventually the final price will be much higher anyway.

most of the prop i went they started with slightly higher than reserved price, as long as got 2 or more bidders.
it's at their sole discretion on the quantum of increase... what i see so far is, if more ppl, they increase the increment, or if reserved price is high, they increase the increment.. to shorten the process...

it's normal to start late as well... for late registration... try sweet talk or act innocent..

Yup. It is also to make their lives easier as some final bidding prices can double the reserve price.

Whether they accept late registration or not will depend on your luck mostly....get one in good mood, they will accept anytime before the auction starts. However, in this kind of matter, it's better be punctual la. 

The judge increase the reserve price is because there are more than 1 bidder. Normally the judge will only do that if more than 5 bidders. If let say the judge adjust the reserve price and no bidder wanted to bid, the deposit will not be forfeited, but if a property got more than 5 bidders and judge increase few k, definitely sure got ppl bid one, just those who has lower budget got no chance to raise their hand only.
And, if single bidder for sure the judge won't adjust the price, it will be sold to the bidder at the reserve.
And sure there's reason why the judge adjust/increase the reserve price. You will know it if you have more experience in auction property.

Not true for high court cases. Unfortunately some would actually blacklist the bidders if they refuse to bid at the increased price. I know it had been done before and seriously there is nothing you can do about it. Afterall, if you want to go auction, then you have to follow the high court rules.

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Added on April 22, 2012, 12:53 am

They can set the increment level they want and there is really nothing you can do about it. In fact that system does weed out the non-serious bidder, sad to say.

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Added on April 22, 2012, 12:55 am

Deposits will not be forfeited but unfortunately for some high courts, they will ban you and blacklist you for a duration of time. If it is a single bidder then that person would have won the auction at the reserve price and would need to pay the balance within the 120 days stipulated time.

I find it interesting that up until now, there are still some people who cannot tell the differences between high court/land office auction and LACA. There are two entirely different types of auctions and have different rights to the bidders.

I probably understand the pros and cons of increasing the reserved price if there are more bidders. In fact, i just wanted to know if this is a norm, or it is flexible for the bailiff to decide during the auction. Since many experienced bidder has said it is a normal practice, i supposed that it is.
I dunno but claimed by the man, even single bidder, the reserved price is slightly increase a little bit. Let's say like RM100k, it will start at RM 102k or something..Just a little bit..To cover the cost maybe? lol..
Already did the best but that bailiff doesn't seems friendly to us...
Heheh got it, first time, and i do not expect 2 hours from cheras - shah alam also can be late.. Actually i already asked my agent to inform the bailiff that we will be late for 5-10 minutes, he just answer 'x blh'. And we actually reached at 9.36 at the auction room. We also tried to show sympathy while taking a high breath cause i ran all the way from the outside road, climb the staircase, and into the auction room. He just don't allow us. By fate..hahaha
What i've heard that day, even single, or 2 bidders, or 3, or 4, they also increase the reserved price.
Thanks Michael. Do you have any idea that auction law is under which enactment? Does it falls under National Land Code? Maybe is time for me to learn some law .

you went for the usj1 dslh?

actually you can ask your agent to register for you.. if he has your i/c copy.

cannot bro cause the bailiff said he need the original IC and bank draft in order to register....

cannot bro cause the bailiff said he need the original IC and bank draft in order to register....

I probably understand the pros and cons of increasing the reserved price if there are more bidders. In fact, i just wanted to know if this is a norm, or it is flexible for the bailiff to decide during the auction. Since many experienced bidder has said it is a normal practice, i supposed that it is.
I dunno but claimed by the man, even single bidder, the reserved price is slightly increase a little bit. Let's say like RM100k, it will start at RM 102k or something..Just a little bit..To cover the cost maybe? lol..
Already did the best but that bailiff doesn't seems friendly to us...
Heheh got it, first time, and i do not expect 2 hours from cheras - shah alam also can be late.. Actually i already asked my agent to inform the bailiff that we will be late for 5-10 minutes, he just answer 'x blh'. And we actually reached at 9.36 at the auction room. We also tried to show sympathy while taking a high breath cause i ran all the way from the outside road, climb the staircase, and into the auction room. He just don't allow us. By fate..hahaha
What i've heard that day, even single, or 2 bidders, or 3, or 4, they also increase the reserved price.
Thanks Michael. Do you have any idea that auction law is under which enactment? Does it falls under National Land Code? Maybe is time for me to learn some law .

cannot bro cause the bailiff said he need the original IC and bank draft in order to register....

I probably understand the pros and cons of increasing the reserved price if there are more bidders. In fact, i just wanted to know if this is a norm, or it is flexible for the bailiff to decide during the auction. Since many experienced bidder has said it is a normal practice, i supposed that it is.

Heheh got it, first time, and i do not expect 2 hours from cheras - shah alam also can be late.. Actually i already asked my agent to inform the bailiff that we will be late for 5-10 minutes, he just answer 'x blh'. And we actually reached at 9.36 at the auction room. We also tried to show sympathy while taking a high breath cause i ran all the way from the outside road, climb the staircase, and into the auction room. He just don't allow us. By fate..hahaha

Bad luck. You should know the traffic situation in KL.

Maybe next time , try to be there at least 3 hours earlier.

Go and chit-chat around that area while waiting.

It wasn't the norm some 1 year ago. It became a norm when the snakes are plying their businesses like nobody's business. These measures are supposed to be there to protect genuine bidders and to prevent hanky panky. AFAIK, the POS has spoken quite clearly about it.

Yeah it is under the National Land Code, but you can be certain that sometimes NLC is not being followed. I had once went to an auction where there were more than 200 bidders and increasing as there is a Maybank branch beside the land office, so people were asking their relatives to go to the bank and buy bank drafts (so that they can share the presents santa clause has brought) until ADO came out and said the auction is off due to irregularities. He does have the power to do so given and his reasons were that he was afraid there may be a riot later. There is also this other land office case where the auction was called off after registration close which was against NLC given that there were no irregularities and plenty of genuine bidders. A few gungho people wanted to challenge the ADO with police called in by many "strongly connected" individuals and press. But yet land office rules. Would anyone actually troubled themselves to sue the land office?

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Added on April 22, 2012, 7:23 pm

Not true. You can always give a certified copy of your IC to your agent and let them register. I don't know who you can complain if the high court dares to reject your agent. Fact is, they don't even know if it was your agent that inserted the bank draft. Normally for high court, you need to deposit your things into a box.

Like Micheal said, this practice only started about a year ago where the property auction scene becomes hot. Surprisingly, the auction scene is still hot compared to your normal sub-sale. Is this practice going to last? Nobody knows. By right, the increasing of price should happen when there are two bidders or more. Then again, the ultimate say is with the judge.
Congratulations on your giving your virginity (to auction)!
Although you did not manage to get some action, take it as a learning experience. Don't you think you learned quite a bit on the field? Even if you actually bidded on that day, you might not win. Nowadays, the final price of hot properties are almost on par with the market price, with some even exceeded. Mind if I ask whether the final price exceeded your budget that day?

The final price is only 10k higher than my budget...

The final price is only 10k higher than my budget...

Yalo what to do lol. I hardly travel from cheras to shah alam during morning time. Now I learned my lesson.

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Added on April 22, 2012, 11:28 pm

Wow, even high court can play around with the law. No wonder most of the Malaysian like to do things against the law..hahahah

No bro, my agent even filled the entire information with bank draft number. But the bailiff do not accept it at any cost. The bank draft is with me and my agent need to insert the bank draft and photocopied ic into the box. With either 1 item missing, means no by the bailiff that day.

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Added on April 22, 2012, 11:34 pm

Yup ultimate said is by the judge cause he is the house boss! But the judge is more keng then governant bodies where even if they create or amend an emergency ordinance, it has to be agreed by certain parties, but not a single person.. Salute..
Yeah, I've learned alot from that day and not to say, give a full credit to Michael. He helped to answer most of my question where I couldn't 'rise an objection' that day.. Hahah
The final price is only 10k higher than my budget...

Well, 10k is quite a bit for a 200k prop. Just out of curiosity, would you ever consider going over your budget?

There is a couple of time, when I realised that there is no subsale in that region and I die die want to have the location, I am happy to pay a slightly above market premium in auction. The beauty of auction if you are a snaky person, is you can reap a lot of benefits post auction.