As per my prediction.
Both units no bidder today.
Come January next year only ppl will come out fighting when price drop further 10% cheaper. And price will end much higher than the price today.
Haha.

The FB post was posted base on hearsay.
I doubt this is true.

Bank lost 300k.
AKPK able to restructure a 900k to 1M loan to monthly repayment of 2500 only.
Is not logic.

Here's a case study.
Unit C-23-10 vacant unit.
Unit C-16-05 owner still occupy the unit.
Both unit same size 1055sqft. Same auction date. Same reserve price: 263k

Guess the results:

I see if owner enter bidding only got one main purpose that is to bid just with the intention to jack up the price.
But if he ended up winning, for sure he wont be able to obtain any bank loan.
And if he really got the 10% deposit to enter bidding, must as well he go settle with the bank and bring down the unit from auction.

Another case study to share.

Boulevard Service Apartment @ Jalan Kuching.
Owner bought developer units (meaning after project completed then only buy from developer). No idea how big is the rebate or cash back gain here.
Sign agreement on June 2018.

Less than 6 months down the road, this unit already enter lelong market.

S&P price for unit 21-10 is at RM724,300.
Refer: http://www.summerfield.com.my/wp-content/u...-05-05-2017.pdf

Lelong price now is at 486k.
Refer: http://auctions.com.my/auctiondetails.aspx?ID=106701


Assuming owner took 90% loan, he is standing to lose out more than 150k in less than 6 months time only. And provided got bidder at 486k. High possibility nil bidder at this pricing.

Here is yet another case study to share.
1 year ago, owner bought this OUG Parklane unit via subsale at 500k. No idea this unit come ID renovated fully furnish or this is mark up to max bank valuation price.



Today this unit in the auction market at 500k (first auction) starting since Oct 18.
Now at 405k (third auction): http://auctions.com.my/auctiondetails.aspx?ID=106700

Price will certainly drop to 3xxK before attracting any bidders.
Owner stand to lose out 150+k in just 1 year.

Just sharing lelong unit sold at more than 30% below launching price.
And yet come fully furnish.
What luck.



Opening of this unit:

Klang low cost single storey house.
Reserve price 40k.
Attracted 26 bidders.



Results:



This post has been edited by AskarPerang: Dec 28 2018, 03:50 PM

Sold at 334k only. This is the condition of the unit.
Another jackpot lelong unit.





This post has been edited by AskarPerang: Dec 31 2018, 09:57 AM

Jackpot in term of unit condition.
You do realise that lelong unit is not possible to know how will be the house inside condition be like?
Of course getting a lelong unit in such condition is a jackpot.

And your argument about stamp duty and legal fees. Buying from subsale also you need to fork out the same amount of money. So no difference.
Plus subsale unit selling at 400k ones certainly wont get you a unit in such condition.

Few results update from RHB night of auction!!!





2 bidders.
Sold at 334k just now.
Vacant unit. Already more than 1 years plus access card barred. Water usage zero and TNB usage nil. Unit facing inside swimming pool. Not facing cemetery.
Good catch!!!




3 bidders.
Sold at 302k just now.
Occupied unit.
Still a good catch.




As expected. When price too low will attract many bidder.
Total 7 bidders.
Occupied unit.

Sold at 208k. Much higher than last month reserve price of just 190k. Can win unchallenge and save up 18k.




4 bidders.
Sold at 445k just now.

This is non bumi lot. Anyone can buy. Vacant unit. Very nice view from the unit. This unit S&P price at 900+k. Now sold at half price.

Well, this is lelong. Good catch!!!

More apparent now for newly completed property. Majority still in brand new condition. Maybe keys also not yet taken.
Not only fall below S&P price, but also below 3-4 years ago nett after rebate price. Example:
KL Traders Square
Lakeville Residence, only 2 blocks completed
Savanna Southville City, this one itself is making lelong record

And will last for few years after completion such as
M City
The Elements
Central Residence
Mirage By The Lake
Verdi
Hillpark
Etc. All never ending lelong units in the market

Plenty of lelong units from M City and The Elements.

As of today:
7 units from M City: https://www.lelongtips.com.my/search/M%20City
6 units from The Elements: https://www.lelongtips.com.my/search/The%20Elements

Projects completed like 2 years already. Still never ending lelong from both places.

Bandar Hillpark by MKH is still unbeatable for landed property.
9 units currently: https://www.lelongtips.com.my/search/bandar...?state=selangor

For highrise, is no other than Savanna Executive Suites, Southville City @ KL South by Mah Sing.
8 units currently (some yet to be relisted): https://www.lelongtips.com.my/search/savanna?state=selangor


Few newly completed property, namely:
Arte+, Jalan Ampang: https://www.lelongtips.com.my/search/arte?s...=kuala%20lumpur
H2O (only Block A VP): https://www.lelongtips.com.my/search/H2O?state=selangor
Lakeville (only Block A & B VP): https://www.lelongtips.com.my/search/lakevi...=kuala%20lumpur
KL Traders Square: https://www.lelongtips.com.my/search/No%209...=kuala%20lumpur
Expressionz, Jalan Tun Razak: https://www.lelongtips.com.my/search/Inspir...=kuala%20lumpur

Here you go Imperia auction fight today. Reserve price start at 446k, end up price view video:

Yes: https://www.lelongtips.com.my/property/5699...or-for-RM446300

Subsale transacted at 1M plus: https://www.brickz.my/transactions/resident...ria/non-landed/

This post has been edited by AskarPerang: Jan 18 2019, 12:42 AM

Got clear cut answer from the lawyer today.
Even if you are the only registered bidder. You need to bid to win.
If you didn't bid at all, will be considered no bidder, and unit will be reauction back in the future.

Case study today, buyer throw in cheque for the below 2 units.
Both units no one else registered. He was the sole bidder.



B-15-1 auctioned first at 774k. He didnt bid. Considered no bidder.
B-13-1 auctioned next at 733k. He bidded and sold.

https://forum.lowyat.net/index.php?showtopi...post&p=91155802