AUCTION PROPERTY- NEED ADVICE
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 Feb 28 2011, 07:05 PM
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#1
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Senior Member
1,830 posts Joined: Aug 2010 From: Kuala Lumpur   
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QUOTE(henryhing @ Feb 28 2011, 04:24 PM) saw some people staying inside wor. Auction property still can have tenant?? this reason alone, you should stay away from the property  if you insist, talk to the people staying inside politely, tell them that the property is being auctioned. see if they have the intention not to leave. it is troublesome to vacant the people in there. good luck |
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Feb 28 2011, 08:47 PM
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#2
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Senior Member
1,830 posts Joined: Aug 2010 From: Kuala Lumpur
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you can ask them to leave, but whether they leave or not is another story...even if you are the legal owner of the property, what are u going to do?
lawyer latter? report police? go ahead, they are just not moving out worst case is when there are woman and small kids, they cry and beg you dont chase them out because the husband has gamble all their money and cannot afford to pay the bank thats why the house got auction. are you going to mercilessly continue chasing them out? |
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Mar 1 2011, 07:21 PM
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#3
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Senior Member
1,830 posts Joined: Aug 2010 From: Kuala Lumpur
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QUOTE(henryhing @ Feb 28 2011, 08:50 PM) Means they also cant do anything if i ask contractor to totally renovate the house when they r staying inside there?? I tile whole house slowly, remove electricity, water etc.. sure they will move out by then right.. i'm not discouraging you from going for auction property, but want to make sure you are aware of all the risk before you go for it.a lose-lose situation, do you really have to get yourself into this? but if you really really love the property, it might worth the effort and resource Actually I went and saw the house. Dont look like malay family when i read the Proclaimation of sales, the actual owner is a malay.. Can I go talk to the tenant. I really confuse as , if the owner got a tenant sure he can afford monthly repayment what..My assumption only la.. there are times when people do not have a job, owe other people a lot of money, and dont even have enough money to eat. thats when a person will use the rental as living expenses rather than paying the bank installment. in cantonese, this period is known as "pokai"  Added on March 1, 2011, 7:25 pm QUOTE(cody99 @ Feb 28 2011, 09:00 PM) Another note. Please prepare some cash to pay out pending bills. Some banks will offer to pay for the bills until the date of the property being auctioned offPotientially to grow to a big sum Added on March 1, 2011, 7:27 pm QUOTE(surf-it @ Mar 1 2011, 01:44 PM) Nowadays too many uncle aunty bid the property to a price way beyond market price, so wat's the point? right, sometimes a property will be bid till higher than market price. either the bidders are really getting too emotional or in they really cannot find another identical unit in the market.Added on March 1, 2011, 7:29 pmSuggest you invest in a book before invest in a property  http://www.bookplanet.com.my/index.php?tar...s&product_id=59 This post has been edited by property101: Mar 1 2011, 07:29 PM |
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