I would like to know ...

I go to high court auction, facing almost ALL PROPERTIES Call off due to new regulation imposed by high court to Bank (3% of selling price need to pay to High court from Bank b4 auction those houses)....

A lot of banks not willing to PAY YET....

1. DOcument more complete ?? high court ?
2. difference ?
3. Advantage & disadvantages ?

Got any website can list out the HIGH COURT Auction house one instead of waiting for agent to feed back ?

This post has been edited by Irresistible: May 23 2012, 08:48 PM

Previously it was 2k but they changed to certain % of the selling price. And it's an auction deposit. Can get back. Just that some banks slow in giving the deposit to their solicitors.

What do u mean by docs more complete?

Difference as in?

Advantages by auction conducted at the court is that all outstanding (maintenance charges, QRA etc) bear by the bank till auction date.

Other than that not too sure..

U mean the 3% , actually the bank can get it back ??

I don't understand why the bank refuse to pay or pay so late...

I m curious to know that , WHY willing to auction the house to HIGH COURT, instead of auction it by themselves ?

I never seen such regulation before...

Usually is just the deposit of 10%.

I prefer auction house rather than high court.

Personal reason.

auction house is better than high court from what i think

One of the reason from auction house switch to High Court because the property got no bidders for quite some time.

Usually High court will pay all outstanding fees and reserve price more cheaper.

Totally wrong advice mate. High courts deal with properties with proper title or those that has already been stratafied. Auction house deals with master titled properties, or properties whose titles have yet to perfected.

Depending on the security documents the bank has on the borrower, they will dictate on how the auction should be carried out. Even if the property has been stratafied but the title has yet to be perfected, then only LACA can be done. High court will not accept such properties. In fact LACA is not without risks and if anything, anyone who is inexperience should avoid LACA and go for high court auction only as the risks are a lot (and i mean A LOT) lower for high court auction.

1 year plus ago, a lot of high court auctions do not pay for outstanding fees. It is only recently that they standardise the POS across west malaysia, that we find POS telling us the bank will pay for outstandings inclusive of maintenance and utilities. If you read National Land Code, the bank is NOT oblige to pay such outstandings. They are required only to pay quit rent and assessment and anything that the government wants, not private.

Valuation is not cheaper on high court. It is the same. House A will cost X amount of money in both LACA and high court. Valuers will give two values on a property. OMV (open market value) and FSV (forced sale value). FSV is usually 10% off the OMV.

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Added on May 23, 2012, 11:12 amNot true. Please read the above.

This post has been edited by michaellee: May 23 2012, 11:12 AM

Thanks for giving info generously


(unlike that michaellee who is stingy with info when asked, but when we don't ask, he likes to shoot rubbish from his mouth )

LOL.. If you want to pick, also pick the post with the correct info. I have actually corrected the info. IDIOT, where is the name of your lawyer? The more you evade the worse your reputation becomes. Unless of course you admit right away you are nothing but a liar and that you made up those imaginary lawyers! It is a good thing that slowly the forumers are now seeing lights and knows you bullshit your way around!

I have never been stingy with my advices and duly given when asked nicely. People like you thinks I owe you enough to provide you with everything. LIAR LIAR! Come on, give me the names of your lawyers! Now that your lawyer has pointed to you it is legal to rent out daily for service apartment but not for others, I lagi mahu the nama of your lawyers! Unless of course they are imaginary! What an idiot! BODOH! Every property you attempted to buy you sure kena cheated by either the banker, lawyers or agents! How much more of a loser can one get? LOSER AND LIAR!

Post more, you entertain me by allowing me to get back at you non stop.

But maybe my info not 100% correct and always welcome new info.



Personally prefer Auction house cause is easier to get compare with High court.

Rather waiting to fight with 20-30 bidders better off with 2-3 bidders.

Hi Alvin,

Avoid conversation with Jalsrix la. That fella spews rubbish and to date had lied about lawyers giving him ILLEGAL advices which he claimed is legal. I have already issued him a challenge to name the LAWYERS (note plural) and until he does, his reputation is in the gutters. I believe he is trying to hide his lack of experiences but yet still want to look helpful by passing off opinions (which he claimed his lawyers have given him) as genuine legal advice. This person is a very dangerous person on a property forum where any purchases would amounts to hundreds of thousands to millions. He should be kicked off a public forum like this one. Cheers.

agreed with michaellee.
please post/share true facts not lies..

u mean auction house only have 2-3 bidders...?
but i've been to auction house approx 10 bidders... *confused*

To be honest, most auction houses properties have less bidders than high court auction and in some ways Alvin may be right. High court auction attracts a lot of bidders due to a lot less inherent risks compared with LACA properties. A hot property will always be hot. The only difference is whether the property can only be sold via LACA or high court. An auctioneer cannot choose the method of auction, only the property, with or without title will determine the type of auction.

Like "michaellee" mentioned, properties with proper title, the auction will take place at either Land Office or High Court.

If not, it'll be at the auctioneer's office or a specified place, aka private auction.

There's no relation as to what sort of auction will attract more bidders.

If the property's hot, even if the auction is held in a cave also there'll be bidders.

oooh i see...
thanks for the clarification...

I think i'm wrong in that part.

How about land office ? Sometime auction take part in land office at government office there.

What's the reason ?

As per what scorgio had said, those with good title will be auctioned off at either land office or high court, but since 99% actually take place at high court, i usually lump them up and say high court.

actually, my agent told me the same thing... He said High court auction is "safer "...

LACA auction banks bear the maintenance, water + eletric bill owe before auction date right? & by way of buyer pays upfront n later claim back from bank, how long does it takes roughly for bank to refund to buyer?