It imply ms marketing agents did an excellent job, managed to sell even to subprime buyers.

Recap of all lelong unit here:
1. A-17-6, 978 sqft.
2. B-40-03, 978 sqft.
3. A-33A-01, 1188 sqft.

Tower A, 295 units
Tower B, 327 units

To be added more in future.

Lelong meaning the buyers going to get bankruptcy legal actions from the bank?

not necessary.

say owner owned bank 500k.

after lelong and all fees, bank managed to recover 450k. owner needs to coup up pure blood the remaining 50k to avoid bankruptcy order by bank.

I also think there is floor amount for bankruptcy order. cant remember the value, macam 30k or so.

Thanks for the useful info! I always wonder how lelong works.

I see. Those action house much lower than loan amount, the owner must top-up at least $100K

we don't know if owner managed to get LTV90 or 70 or even 50.

but one thing for sure, you certainly cant expect to make money out of bank lelong.

For those who like to say "who doesn't know mother is a woman" and "cocr" promoters; leverage amplify profits as well as losses.

This post has been edited by icemanfx: Sep 30 2018, 04:02 PM

Let's make it 4 lelong unit now!!! Another unit enter lelong market.
Only Tower A & B VP.
Still got C, D, E, F + RUMAHWIP yet to complete. Confirm more to come......


Recap of all lelong unit here:
1. A-17-6, 978 sqft.
2. B-40-03, 978 sqft.
3. A-33A-01, 1188 sqft.
4. B-9-02, no info on size yet.

This post has been edited by AskarPerang: Oct 11 2018, 04:30 PM

This unit auction at 540k today. But no taker.
Price drop again. Updated new price as below:

B-40-03, Tower B, Lakeville Residence
Reserve price🔥🔥RM 486,000🔥🔥
Leasehold
978 sqft
Auction: 10-Nov-2018 (Sat)

With more to vp and foreclosure, won't be a surprised to drop below 400k (eventually, not necessary this unit).

The market needs to wipe out the ppls who wanna goreng but financial weak. Too many non qualified investors in town...also thanks to all property guru training of getting big big portfolio and so called good loans beyond investors mean....seriously these investors deserved to hit by all these lelong journey. They need to be out from this market. Proper and sound investors stay.

Wow this is actually a super good price!

These group of investors are known as subprime in other countries.

I thought subprime was due to homeowner double mortgage their housing loan.

Nope, subprime mean borrowers with subprime/low credit score/rating.

So many auction units now.
My unit gg, dunno when can sell off lol.

This post has been edited by nubJeff: Oct 20 2018, 02:43 PM

Bank need to tk responsibility also..want sales simply approve loan

Many crocodiles eyeing this unit!

Morning~
Many of us received DBKL letter for the tax,
RM 960 🤔. So expensive!!