Are you an agent? haha. Remember in any auction / lelong house to check on the property or ask people who live there. Don't blindly buy lah, it's not RM 1 only with pandemic going on and people are going bankrupt. It's odd that the house sold at 300k years back ( just google for residensiwilayah - Residensi Rimbunan Petaling) suddenly on LELONG add another 20k? Isn't it for auction supposed to be cheaper?

Relax chill. It is always willing seller willing buyer. Anyway, yet to reach the auction date. So it is still unknown whether got buyer willing to grab at that price.

If no bidder, the bank will drop price by at least 10% and auction again in Mac.

This Residensi Rimbunan is RUMAWIP right? So it's bound to 10 years policy? Usually under RUMAWIP ONLY AFTER 10 YEARS can be sold right? If it goes to auction, the same policy would apply too?

10 years from SPA date or VP date?

Rumawip is 10 years from SNP date.

Are you asking about bank rights to sell to recover outstanding loan or subsequent buyer ?

Yes

Banks are allow to auction to recover outstanding loan irrespective. They are chargee and not owner.

Subsequent buyer is bound by tnc of the original purchase unless there is a waiver.

Just checked with the managament the outstanding statement it's rm 1+++. Is it worth to fork still as we need to recover itself? Plus read the reviews on Google not a good sight though. If anyone knows any flat / apt / condo on auction nearby let me know. I think I've to give it a pass

Unit sold at 330K yesterday.
Winner is a Chinese buyer. Let's see whether got any issue during name transfer process after this.
Good catch?