May 19 2012, 01:49 AM
QUOTE(jalsrix @ Apr 26 2012, 01:37 PM)
Went for my maiden auction yesterday.
I phoned up at 12 noon and he said the auction of the unit is still on and ask me to come at 2 pm to register.
When I reach the place at 2 pm, they say the auction unit is WITHDRAWN !
What trick are they up to ? They should at least give 12 hour notice so we dont' waste our time buying bank draft and wasting petrol money and taking leave !
When I went that time to register, there were no buyers for other auction units but a lot of agents there waiting and sitting.
What are the agents doing there ?
Maybe last minute the owner paid up. There have been cases whereby the auctioneer is informed at the very LAST minute. Literally the instruction to call off the auction of a property could be delivered by the legal council in attendance. Of course this applies to LACA auctions and not Court auctions. Don't think court auctions could be called off that easily.I phoned up at 12 noon and he said the auction of the unit is still on and ask me to come at 2 pm to register.
When I reach the place at 2 pm, they say the auction unit is WITHDRAWN !
What trick are they up to ? They should at least give 12 hour notice so we dont' waste our time buying bank draft and wasting petrol money and taking leave !
When I went that time to register, there were no buyers for other auction units but a lot of agents there waiting and sitting.
What are the agents doing there ?
Agents get commission from banks if their client is the successful bidder. They are there to help their client as some of them are unfamiliar with the paperwork and procedures.
This post has been edited by Monstar: May 19 2012, 01:49 AM
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