Most of the buyer of these low cost properties do not rent it out. Most are businessman with many foreign workers working under them.
These properties are for housing those foreign workers.

Low and low-medium cost actually is the same. Got restriction when want to resell back to others, the new buyer need to meet certain requirement.
- Refer to the POS. Will be stated inside.
- Refer to the size. Size 650 sqft and below. (got few places with 700 sqft unit but is still low or low medium cost flat). Any size above that is probably medium cost aparment.
- Refer to the unit balcony. Is without any balcony. Any property with balcony is probably medium cost apartment.
- For landed property, the land size is very small. Below 900 sqft.

rumawip is considered as what cost?

and no restriction before 2019 building right?

Definitely is not under low cost category. Minimum rumahwip size also 800 sqft and above.
However, is under affordable housing scheme. Will have restriction in selling back to new buyer within the 10 years moratorium period. After that period, still unknown actually as government policy always changes.

That's one good reason too.
Thanks, brother. And I didn't know new buyer need to meet certain criteria...it's gonna be hard to find one that fits then.

Ya, I've seen some 700sqft that looked like low-cost too.
And if they're not up for auction, then you can't really find out if Google shows up with nothing.

"

new buyer or project that are starting to build on year 2019?

if buy rumawip project that was previously built since last year no problem, ma bro.. dont give wrong information

This post has been edited by trust4you: May 19 2019, 03:11 PM

Lelong reserve price at 272k. Market Value 340k.
Owner decided to let go at 260k via normal subsale market.
Unexplainable.

C-8-5, Pangsapuri Damai, Jalan Tokoh 25/28, Taman Sri Muda, Seksyen 25, 40400 Shah Alam
Reserve price 🔥🔥RM272,000🔥🔥
1041 sqft
Leasehold until 2107
Auction: 27-May-2019 (Mon)



Previous Auction(s) for this property
Auction Date Price
2019-04-30 RM275,400.00 - no bidder
2019-03-28 RM306,000.00 - no bidder
2019-03-04 RM340,000.00 - no bidder



Owner jual 260k shj. Dan dh ada buyer yg lock deal. Untung buyer ni! Lg murah dari harga reserve lelong.
Blh search iklan. Bnyk agent yg promote unit ni. Contoh:







This post has been edited by AskarPerang: May 25 2019, 04:32 AM

if normal subsale, owner need to settle all outstandings? or buyer?

by law is owner. but dont know if they got undertable thing as selling lower than reserved lelong. still very fishy case

Normal subsale process:
Owner need to settle all outstanding including utilities bill up to the date of full disbursement of the buyer loan.

Lelong process:
Outstanding up until the date of auction only will be deducted from the purchase price. Utilities not covered.

There should be fees incurred everytime it goes to lelong. Probably that's the reason why the owner sold it. Plus, the costs borne is actually lower if sold through subsale.

All cost incurred in foreclosure is borne by borrower and is not cheap.

Yes the auctioneer fees and also the courts commission is definetly lore than the 14k difference

What are the hidden costs when bidding for vacant lots?

foreclosure is the term used by the USA, not here in Malaysia.

Bid of the day at HSBC mega auction today.
Yes people willing to wait for cheapest ever price, and all rush to bid up the price. Usual scene today.
Here example of 2 cases:

-----------------------------------
Case 1:

This is the bid of the day!!!
Point #1: Facing cemetery view
Point #2: Owner still occupy unit

Let's see the history of this lelong unit first:

8th lelong - Rp 174,380 ---> Latest 27-May
7th lelong - Rp 193,760
6th lelong - Rp 203,960
5th lelong - Rp 214,690
4th lelong - Rp 225,990
3rd lelong - Rp 251,100
2nd lelong - Rp 279,000
1st lelong - RP 310,000


So reserve price down to 174,380 today. Guess sold how much.
Sold at 248k. What a surprise. So many months nobody interested suddenly today, ppl willing to bid up the price.
Dont understand.

--------------------------------------------
Case #2:

Total 3 same size active lelong units in the market. All below 700k. This unit first to lelong.
The other 2 units details here: https://forum.lowyat.net/index.php?showtopi...post&p=92795794

4 bidders just now.
Sold at 780k.

OMG!!! Buyer market is still very strong.
Not a good catch. Higher than last month reserve price. Why last month 740k nobody interested?

outstanding bills.

I guess when nobody bids the snakes won't go in and cari makan. When got bidder, the snakes go in and kacao market.

Newbie here,

May I know what are the cost/procedure incurred when purchasing lelong unit?

could be too. if i want a unit, isnt it the best to not enter bidding when there is no bidder so that the price can go lower, and only enter bidding when there is other bidder.

but a bit rugi when the bid goes beyond the previous RP.