If u can't get the consent, I think the bank will pay back ur deposit since it's not ur fault and I think the pos/cos hv written this in their agreement..

No worries. I try to help where I can. Yes, if you cannot get consent by the stipulated date, you might be in for a bit of a trouble. Unless you have cash to settle the balance sum, your bank may not release money.

Personally, I am on good terms with quite a number of developers and hence a lot easier when performing tasks. But still, there are quite a few cases where I had to go all the way until the last minute (4pm of the last day without any interest penalty) by screwing the auctioning bank, auctioning bank's lawyer and developer. At the end of the day, the cheap property makes it all worth while.

Hopefully you can find a property that you like soon! Good luck in your property hunting.

---

Added on April 28, 2011, 3:24 pmUnfortunately that is not so. The risks is on you as a purchaser. The bank will not be responsible for any lapses in transfer.

This post has been edited by michaellee: Apr 28 2011, 03:24 PM

If we cannot settle in 3 month times, can we request EOT with 0%?

Yes you can and it is definitely worth a try. But having said that, the bank may give you another 30 days and thereafter 8% pa interest. Just becareful with LACA auction.

May I know if the management office not register under mpaj(ampang), do I still need to pay management fee? Thanks..

What do you mean? Buildings are under Commisioners of Buildings.

It's bcos I write email to the consumer association under government sector and he reply to me

2.            At the same time, you may also check with the Local Authority, i.e.  Majlis Perbandaran Ampang Jaya (MPAJ) which oversees the area covered ( the premises being situated at Pandan Mewah), whether Badan Pengurusan Kondominium Mewah Heights is licenced or not.  If it is not registered, then you'll be further advised to report to:

                                                               THE REGISTRAR
                                                                BOARD OF VALUERS, APPRAISERS AND ESTATE AGENT     MALAYSIA
                                                                A-27-15, Level 27, Menara UOA Bangsar
                                                                No. 5, Jalan Bangsar Utama 1, Bangsar
                                                                59000 Kuala Lumpur

                                                                Tel  : 03-22888815 / 16 / 17
                                                                Fax  : 03-22888819
                                                                e-mail: lppeh@po.jaring.my

so that necessary action can be taken against Badan Pengurusan Kondominium Mewah Heights.

3.               Hope that the above explanation will help you further to get your problems solved amicably by the parties concerned.

Thank you.


                                                            
"KUASA PENGGUNA: 1PENGGUNA 1SUARA"

Pn.Tan Chwee Gim
Penolong Pegawai Tadbir Kanan
Seksyen Kepenggunaan
Pej. Perdagangan Dlm Negeri, Koperasi dan Kepenggunaan
Wilayah Persekutuan Kuala Lumpur
No. Tel:- 03-40454555 ext 4566
From: Pang Chee Hwa [mailto:amcisa2003@yahoo.com]
To: Tan Chwee Gim [mailto:chwee@kpdnkk.gov.my]
Cc: abusamah@kpdnkk.gov.my, mokhtar@kpdnkk.gov.my, hazrin@kpdnkk.gov.my
Sent: Thu, 28 Apr 2011 14:48:10 +0800
Subject: Re: COMPLAINT AGAINST BADAN PENGURUSAN KONDOPMINIUM PANDAN MEWAH HEIGHTS (Aduan No. 01104214)

Dear Sir,

The bank normally will absorb all of the outstanding fee. It's much easier for consumer to judge the real price. However, Maybank is only absorb 10% and it's not mention about the amount of outstanding fee. I call the auctioneer but they also do not know the outstanding fee.

Only the bank's agent is able to go into the house. However, the pos/cos didn't write down the bank's agent phone no. Hence, I'm unable to take a look for the in house condition.

In addition, I didn't live in the condo, why I have to pay for the previous owner outstanding fee?


Thanks & Best regards,
Pang Chee Hwa

From: Tan Chwee Gim <chwee@kpdnkk.gov.my>;
To: <amcisa2003@yahoo.com>;
Cc: <abusamah@kpdnkk.gov.my>; <mokhtar@kpdnkk.gov.my>; <hazrin@kpdnkk.gov.my>;
Subject: COMPLAINT AGAINST BADAN PENGURUSAN KONDOPMINIUM PANDAN MEWAH HEIGHTS (Aduan No. 01104214)
Sent: Thu, Apr 28, 2011 4:13:53 AM

Encik Pang Chee Hwa,

Terima kasih atas aduan yang telah tuan kemukakan  bertarikh 27/4/2011 melalui sistem e-aduan ke pejabat ini. Setelah diteliti aduan tuan, adalah dimaklumkan bahawa aduan tuan adalah di luar bidangkuasa pejabat ini kerana tiada akta yang sedang berkuatkuasa atau yang termaktub di bawah Kementerian ini yang membolehkan tindakan diambil. 

2.         Walau bagaimanapun, tuan adalah dinasihatkan supaya menghubungi terus dengan pihak Bank yang mengendalikan lelongan tersebut  mengenai rumah yang tuan hendak miliki itu untuk menanyakan kepada bank tersebut, kenapa tuan tidak diberitahu terlebih dahulu mengenai caj-caj yang tersembunyi itu.  Sekiranya jawapan yang diberikan oleh  Bank tersebut tidak memuaskan, tuan boleh menghubungi Bank Negara Malaysia untuk penerangan lanjut melalui No. Hotline: 1-300-88-5465.

3.         Seperti yang  diberitahu oleh Jabatan Perumahan Negara juga, setelah dihubungi oleh pejabat ini untuk mendapatkan maklumat lanjut pada hari yang sama,  bahawasanya memang terdapatnya klausa yang menyatakan bahawa dalam apa-apa sahaja lelongan yang dikendalikan oleh mana-mana Bank sekalipun, seseorang yang telah berjaya dalam lelongan tersebut perlu menjelaskan baki hutang penyelenggaraan, cukai pintu dan sebagainya oleh pemilik utama harta tersebut. Oleh itu, tuan seharusnya membuat semakan terlebih dahulu mengenai latar belakang sesuatu harta yang hendak dimiliki itu sebelum membuat keputusan.

3.            Dengan penerangan seperti di atas, adalah diharapkan supaya tuan dapat menyelesaikan masalah tuan dengan secepat mungkin.

That's why I ask if the management office not under mpaj, can I do anything?

I see. I think your main grouse is still on the outstanding maintenance fees. Unfortunately, it is assumed under the Building and Common Property Act, the unit owner is expected to pay all outstanding. Because of the way you purchase the property, the bank has effectively transfer all liabilities to you, whether you like it or not. You do have a right not to purchase the property but if you do continue to bid and purchase, the liabilities will be transferred to you. I know of another purchaser who is currently fighting in court but I think it is an ongoing case, so I do not know how the judge will rule. But personally I believe it won't be easy. You will suffer ultimately, because if you don't pay, management will not give you water or other assistance, you won't be able to rent out the unit. How much is the outstanding anyways?

BTW, I think the correct person to check with regards to the legality of the management corporation or joint management body would be commissioner of buildings rather than local council as they have to report to COB.

Oh.. Thanks a lot!!

I'm now request the management office to send me the cob contact and email.. Thanks!!

---

Added on May 5, 2011, 5:15 pmHi, sifu!

If I spend 1 month to get the loan approval, do I still hv time to finish all the process?

& how can I fasten my other process? Thanks..

This post has been edited by present: May 5 2011, 05:15 PM

Malaysia Bank Lelong Property Auction Process and Guideline

Can somebody answer me.

Who is going to pay for the lawyer fees to transfer the name ? Bank or purchaser ?

Who is going to pay to remove caveat, remove charge etc.

All other fees is paid by purchaser.

Bank only help cover what own by the previous owner, such as maintenance fee, assessment and etc.

If all other fees by right purchaser need to folk out.

However, in some cases the bank do not want to cover what own by the previous owner.

So please double check in the POS to make sure before you bid.

How to get the POS ? Can we get POS without agent ?

I'm an agent. But you want it, i straight away give you.

I saw your other post the agent request 1%.

Anyway tell me the address and i will give it to you. And your email also.

This post has been edited by Alvinyeo: Mar 30 2012, 02:02 PM

Finding cheap property thru auction is no doubt a good choice. However there are other better ways to locate for a property below cost. You can find out more from this article http://propertyinvestment.com.my/real-estate-investment

Trillionaire Management
support@trillionairemanagement.com
http://www.propertyinvestment.com.my

1. property is leasehold

2. the master title is not transferred yet to first owner.

3. the condo is more than 10 years old.

4. auction unit (not from high court and not from land office)

Do we need consent from developer too ? If answer is yes, how long will developer take to give us consent ?

This post has been edited by jalsrix: Apr 5 2012, 05:30 PM

Eh sorry tumpang thread.
I thought auction properties are normally free from encumbrances? Or excluded caveat?
I'm going for an auction soon as well. If lets say the reserved price is rm400k. I need to prepared a bankdraft amounted rm40k in order to register as a bidder.
And when the final hammer at 600k, when do I need to pay the remaining 20k to make it equal to 10%?
And do anyone of u advise to use the same auction bank and get loan from them? Or is better for me to engage my own banker and mortgage it?
If the property is in KL, can i apply loan at Sabah?
Do I need to engage my own lawyer to do the transferring or I can use the bank lawyer?

FYI, the property is freehold and individual title.

I am not an expert but auction property usually have bank caveat and also charge.
And also tenants who refuse to move out.

Free from encumbrance means what ?

What kind of consent you need. I'm mean when you change tittle you how also need the developer's consent.

---

Added on April 6, 2012, 7:20 amI'm not sure your 1st question.

But for the reserved price is RM400K and you bought is RM600K. Is depend your auction is in Highcourt or Auction house. If is in Highcourt, i witness mostly no need pay extra but need settle with the bank. For auction house yes you need to pay the remaining 20K, is a must.

Normally the auction bank wouldn't care which bank loan you taking. Most important you can settle their outstanding loan enough ad.

Yes. You can engage your own banker but i not sure west and east Malaysia, but most of my auction case in KL i summit bank in Melaka (My hometown).

You can either use your own lawyer or recommended lawyer by the bank. But just to let you know not all lawyer can do certain loan agreement. The firm need to be in their panel only can.

If you need legal quotation i can send to you for free.

If you need my help in auction just PM me. I will reply you when free.

Good luck anyway.

This post has been edited by Alvinyeo: Apr 6 2012, 07:20 AM

I heard if title broken up into strata but old owner haven't transferred to his name yet, we still need developer consent to transfer
to new owner.

can anyone verify ?