May i know what is the procedure

procedure as in your property kena auction or u want to buy auction property?

Cash is king in lelong property. If you can afford to buy with cash without needing any loan, then you are very mightily strong.

If not, there are few key tips:

1. 10% dp or 5% dp depending on auction bank.
2. CCRIS/CTOS must be perfect. DSR also must comply. you cannot afford to get loan rejected by bank.
3. Not all property can obtain bank loan. Developer bankrupt. Abandon project. less than 100k loan. etc. So it is back to the top first statement. If you got cash, you are king.

Fully agree with these statements.

Id like to add, you can also use an OD facility to source for the cash. Buy these properties using cash after withdrawing from your OD account, and refinance it later to get cash to pay off the OD. rinse and repeat

You wont be double paying for any agreements, the transfer and loan agreement are done once, although not at the same time

Secondly you wont be anxious that your mortgage application is not approved

but you dont want to borrow from the bank using the OD for too long, because the interest is very very high compared to term loans, hence the refinancing I mentioned above

better dont bro.

If we can buy with cash what kind of bargain are we talking about here?

no bargain. price is fixed. just that if you can buy with cash, you no need worry about the stated above loan application problem. stated in point #3.

If you are worried about loan, try to get an informal preapproved amount first. As long as you are not over geared and the final price is within market range you should be okay.

This is true. As long as your DSR is within reasonable levels, your repayment records are good (no arrears in the past 12 months or ever), and that you do actually have commitments... then you are good to go.

Nothing is guaranteed in this world though.