Wow.. This post info is usefull!! Thanks..

no need deposit for laca auction. You need deposit for high court and land auction. If not mistaken only high court will blacklist if you deposit without bidding.

Most LACA auctions have no problem with non-bidders attending auction.

wanna ask sifu here ....

are there any cons or difficulties buying property from unknown developer ? Thanks

michaellee still active?

Yes, still alive but in Kopitiam@lowyat reading through silly postings to pass time. Do go to propertywtf.com.my sometimes too as the admins there are more professional when it comes to property matters. But decided to refrain from giving public advices here since moderators are not appreciative of quality info and would allow IMHO very bad infos to be passed on (read jalsrix case). I come online on a voluntary basis to pass on my best of experiences but since it was not appreciated, why should i make this forum viable? I am still contactable by private message and still offer advices there.

Just a short update, did not buy any auction properties in the last 24 months. Mainly into commercial land at the moment. Not interested in industrial, residential or agri land. Been selling more than buying as I personally believe that the property market should see some correction in the next 36 months. Next phase of growth should be KV properties but let Iskandar have its day first before proceeding to KV. Don't over commit in Iskandar or it may be your Waterloo. Cheers all!

great info n tq tkt for the generous sharing

hi, reviving this thread. Got 1 question to ask.

Is it possible to put 2 names in an auction property?

Do you manage to get answer on this?
Looking at auction property now..
may require to joint name...

nobody answer or PM me. looking for otai lelong

thank you..
but if you had any info on it please share so am i...

For auction by the high court / land office (means individual / strata title out) I think only one name is allowed and is not transferable.
If still under assignment (master title), then can change name or submit 2 names, which most banks will allow.

You can call to the auctioneer to confirm on this.
Auction property must be very careful, please call to the right person and a copy of proclamation of sale are to obtain

LACA 2 names no problem.

total how much to settle all caveat ? normally how many long to settle a single caveat ?

Hi All,

I'm newbie in LYN here. I actually following Pai posts and it brought me to Michaellee here.

Micheal, I absolutely believe people can tell who is right & who is wrong. People will hv to use their own head, common senses & their experiences to judge. If they can't, they only left themselves to be blame for. For people like Michael, I do appreciate all those comments left by all the big brothers big sisters here, even many of them were years ago. So I would like to say thank you to Micheallee for your wonderful insights. I hv come to appreciate LYN & people like Micheallee n all other experts here.

Now, I hv some Qs for Micheallee.

Since the prop boom in Msia in 2008, we hv seen surge of buyers came into the scene and it has also crowded the auction props circle. I know u said u hvnt been buying auction for the last 24 mths (apr 2013). I wanna ask for ur advice, what's ur view on auction market from 2014 and forward? Will it be continually be over crowded? What's the best place to start out hunting for auctions props?

Regards.

got a question.

Im wondering about the lawyer legal fees. After we win the bid, sign the memorandum with the POS and COS. This can represent the SPA.

when we engage a lawyer, how is the fees? Apart from loan fees, Since the SPA is settled, the laywer then need to help with the transfer. Can they charge fees on the transfer part ??

Hi guys,


Planning to buy an aunction property
Kawasan rizab : Tiada
Taraf pegangan : selama-lamanya

However there is a
sekatan kepentingan : Tanah yang diberimilik tidak boleh dipindahmilik, digadai atau dipajak melainkan dengan kebenaran Pihak Berkuasa Negeri.

Will this sekatan kepentingan drag the period of loan disbursement of 120 days?

Need advice from all the sifus ....

Usually this sekatan is referring to the transfer name restriction. If u are a bumi or Malay, u don't have to afraid of it. Study the proclamation of sales and do a land search

I did a land search, owner is malay , i'm not.
That's why i am afraid the transfer name process might takes time and cause me to delay the loan disbursement.

strata title/ Ind title issued?
FH or LH?