Oh my goodness, this story... stressed gila, lol...

Yeah, this part I don't understand...what happens if accidentally sold to syndicate if the noob buyer end up don't bid higher than them? Sorry if I'm missing out on something.

What you are asking is mostly academic for the case of PJ Oldtown, most if not all that had the lease renewed were renewed under the strict condition that the property cannot be sold but could be passed on to next of kin only.

Max given was 30 years and cost around RM500 per year.

If there are 2 houses on the same road and one has a 99 year lease and the other has a 69 year lease, ceteris paribus the one with the shorter lease period would definitely be worth less but quantum wouldn't necessarily be what it cost to renew the lease.

Buyer authorize syndicate to bid on behalf.
Do re-read this post again: https://forum.lowyat.net/index.php?showtopi...post&p=92572449

This post has been edited by AskarPerang: May 5 2019, 06:04 AM

stress case. if im buyer, get refund deposit and chao already

Means syndicate already has a client that wants to bid for the house but the bidder is not going for the auction himself. So he appoints the syndicate to do so on his behalf but syndicate convinces bidder that the house is worth much more than the reserve price, prompting the bidder to authorize to syndicate to bid much higher on his behalf.

So if you are planning to bid for the house, go to the auction yourself, rather than rely on those real estate agents, third party which could be part of the syndicate.

This would be a well planned and executed scam/fraud by people in the know how. Sad that this could be allowed to happen. Luckily bidder got his deposit back from the banks.

So this is the part I missed out... thanks alot! Now it clear to me.

Unit: J-15-12 drop to 324k today. 935 sqft.
And sold at reserve price, single bidder win unchallenged.
Not sure is a good catch or not.

Opening of the unit. Sublet unit with 2 extra rooms.
Also enter lelong.
Edited: Yes is a good catch with so many free gifts inside.

Layout:

Wow, even with added rooms the owner failed to hold on to the property. No takers for the rooms?

thats why not everyone suitable invest property. dont know strategic to rent out to minimise the risk. holding too many risk end up hurting self.

except you cash rich able hold very long without tenant

If there is acute shortage of supply, tenants may don't have choice but to accept partitioned rooms. Given supply>demand, unless there is a significant discount, why would one choose to stay in a unit with more people?

Example of few developers not allowing direct transfer.
Take note that if you buy lelong unit from projects already issued title but the defaulter owner did not do perfection yet. Prepare to pay the extra cost involved to do double transfer.
Stamp duty and legal fees to settle the title to the ex owner first. Then pay another round of stamp duty and legal fees to transfer to your name.
If taking bank loan, is not possible to settle within 90/120 days also. Extension required and penalty will apply.

In bracket is few example of project already issued title by those developer.
1. MKH (Hillpark landed houses)
2. Glomac (Saujana landed houses)
3. OSK (Mirage KLCC -do recheck whether need double transfer coz is freehold & Mirage By The Lake- yes, cyberjaya is limited freehold)
4. Tropicana (Tropicana Avenue)
5. F3 Capital (Selayang 18 & Univ 360)
Etc.

you must havent been stay in theme room before, only one in the area. pay for it or go away

This post has been edited by leodinouknow: May 7 2019, 11:46 AM

Theme or funky i.d may seem intriguing but won't last long and not everyone like it. For reasons, established hotel operators don't deviate much.

Any reason why is like that?

Interesting auction unit. Ion Delemen Genting with GRR scheme.

E7-23-09, 23rd Floor, Tower 7, Ion Delemen
Reserve price🔥🔥RM 585,000🔥🔥
Freehold
988sqft
Auction: 29-Apr-2019 (Mon)




This bank no cover all outstanding.
And still got outstanding amount to developer. 89k as per the video below. Probably buyer stop making progressive payment and bank also didnt release the final few stage payment to the developer.

Like that also fight. Market value 900k?
5 bidders. Sold at 660k. Higher than last month reserve price. Winner seems to be happy and satisfied with the price.
Buyer market is certainly back.

the responsibility of title transfer perfection is with the owners, not developers.

the developers only responsibility is to meet all sum due to master title b4 breaking up.

Ohh i see. Thank you.

Any auction property around bukit jalil area near LRT ? Budget 300-400k.