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ju146
post Jun 17 2019, 12:34 PM

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Time to pick up dead chicken, especially those >700psf soho unit
AskarPerang
post Jun 17 2019, 12:46 PM

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QUOTE(ju146 @ Jun 17 2019, 12:34 PM)
Time to pick up dead chicken, especially those >700psf soho unit
*
Come come. Plenty to choose from. Small size, big size, etc.
Airbnb hotspot.





DisneyHome
post Jun 17 2019, 06:49 PM

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QUOTE(AskarPerang @ Jun 17 2019, 12:46 PM)
Come come. Plenty to choose from. Small size, big size, etc.
Airbnb hotspot.



*
Hi AskarPerang, please give some web link for above auction property listing, so I can file in for bidder if I interested this property

Thanks

AskarPerang
post Jun 19 2019, 01:12 PM

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Old is gold?

user posted image





24 bidders. High court auction. 1 bid increment 10k. Hahaha.
Expected already. When the price is too cheap, price also jack up beyond last round reserve price.
Why last round everyone still waiting for the price to drop further?

This post has been edited by AskarPerang: Jun 19 2019, 01:13 PM
Lelong King Jeff Low
post Jun 20 2019, 10:38 PM

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This was happen on last week RHB night auction.

There was a bidder registered for this office lot BUT he refused to win at reserved price when he found out he was the only bidder for this unit.

Obviously, he want to create the unit "UNSOLD" and further drop 10% on next round. Even Tauke from auctioneer also unable to convince.

Please remember, bank are as smart as you, bank won't drop 10% in this case. Why bank will drop 10% when there know got bidder registered at this reserved price? Yes, next round reserved price are maintained same as last round.

You think he still can be single bidder on next round?

user posted image
user posted image
user posted image
user posted image
icemanfx
post Jun 21 2019, 05:42 AM

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QUOTE(Lelong King Jeff Low @ Jun 20 2019, 10:38 PM)
This was happen on last week RHB night auction.

There was a bidder registered for this office lot BUT he refused to win at reserved price when he found out he was the only bidder for this unit.

Obviously, he want to create the unit "UNSOLD" and further drop 10% on next round. Even Tauke from auctioneer also unable to convince.

Please remember, bank are as smart as you, bank won't drop 10% in this case. Why bank will drop 10% when there know got bidder registered at this reserved price? Yes, next round reserved price are maintained same as last round.

You think he still can be single bidder on next round?
Whether bank will drop 10% on next round is depending on priority; whether the speed or value of recovery is more important.
coolguy99
post Jun 21 2019, 09:41 AM

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QUOTE(Lelong King Jeff Low @ Jun 20 2019, 10:38 PM)
This was happen on last week RHB night auction.

There was a bidder registered for this office lot BUT he refused to win at reserved price when he found out he was the only bidder for this unit.

Obviously, he want to create the unit "UNSOLD" and further drop 10% on next round. Even Tauke from auctioneer also unable to convince.

Please remember, bank are as smart as you, bank won't drop 10% in this case. Why bank will drop 10% when there know got bidder registered at this reserved price? Yes, next round reserved price are maintained same as last round.

You think he still can be single bidder on next round?

user posted image
user posted image
user posted image
user posted image
*
Maybe he's having second thought above buying the property.


Harry_Bobinski
post Jun 21 2019, 09:42 AM

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QUOTE(icemanfx @ Jun 21 2019, 05:42 AM)
Whether bank will drop 10% on next round is depending on priority; whether the speed or value of recovery is more important.
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For landed, almost always the bank will drop 10%, even if there were interested parties. It could take up to 6 months until the next auction.
sai2
post Jun 21 2019, 12:34 PM

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Can someone pls post some auction beginner guide here for newbie.
Like how to register, requirement, procedure, rules ?
Can know whether the unit is vacant or tenaneted ?
Must register which project you want to bid ?
If you are the only bider, you must pay for the reserve price even you not bid ?


leodinouknow
post Jun 21 2019, 12:46 PM

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QUOTE(sai2 @ Jun 21 2019, 01:34 PM)
Can someone pls post some auction beginner guide here for newbie.
Like how to register, requirement, procedure, rules ?
Can know whether the unit is vacant or tenaneted ?
Must register which project you want to bid ?
If you are the only bider, you must pay for the reserve price even you not bid ?
*
preprare 10% bank draft, then follow auction specialist agent.... they will do all for you.. win only pay, lose then take full refund of 10% learn experience.

experience is learn with body de, not by become keyboard warrior
BEANCOUNTER
post Jun 21 2019, 12:55 PM

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He was player.

His sole purpose there is to jack up prices, not to bid for property.
gobiomani
post Jun 21 2019, 03:43 PM

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QUOTE(BEANCOUNTER @ Jun 21 2019, 12:55 PM)
He was player.

His sole purpose there is to jack up prices, not to bid for property.
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Wait ... if he was the only bidder and he refuse to take the property, wouldn't it mean that he will lose his deposit?
coolguy99
post Jun 21 2019, 03:51 PM

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QUOTE(gobiomani @ Jun 21 2019, 03:43 PM)
Wait ... if he was the only bidder and he refuse to take the property, wouldn't it mean that he will lose his deposit?
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I don’t think that is how it works. You can choose to not bid if I am not mistaken.
gobiomani
post Jun 21 2019, 04:02 PM

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QUOTE(coolguy99 @ Jun 21 2019, 03:51 PM)
I don’t think that is how it works. You can choose to not bid if I am not mistaken.
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I remember when I went to a bank auction a few years ago they did state in the rules that if you are the only bidder, automatically you will become the winner and you must sign the Proclamation of Sale. Failure to complete after (automatic) winning will mean forfeiture of deposit. This is what I remember, not sure if this rule applies to all auctions or this particular bank made those rules for their auctions.
BEANCOUNTER
post Jun 22 2019, 12:14 AM

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QUOTE(gobiomani @ Jun 21 2019, 03:43 PM)
Wait ... if he was the only bidder and he refuse to take the property, wouldn't it mean that he will lose his deposit?
*

U dun bid lah.....

Place deposit to secure yr right to bid only
gobiomani
post Jun 23 2019, 05:19 PM

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QUOTE(BEANCOUNTER @ Jun 22 2019, 12:14 AM)
U dun bid lah.....

Place deposit to secure yr right to bid only
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Good to know. Never knew this.
Jay_AX
post Jun 23 2019, 07:04 PM

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QUOTE(leodinouknow @ Jun 21 2019, 12:46 PM)
preprare 10% bank draft, then follow auction specialist agent.... they will do all for you.. win only pay, lose then take full refund of 10% learn experience.

experience is learn with body de, not by become keyboard warrior
*
to know vacant or not just go visit the property.
which unit just ask the agent.
rules may vary so everything else u can ask the agent.
leodinouknow
post Jun 23 2019, 08:11 PM

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QUOTE(Jay_AX @ Jun 23 2019, 08:04 PM)
to know vacant or not just go visit the property.
which unit just ask the agent.
rules may vary so everything else u can ask the agent.
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yes dont stingy fee on agent. buy their knowledge to your advantage
Bjorn1688
post Jun 23 2019, 11:41 PM

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QUOTE(BEANCOUNTER @ Jun 21 2019, 12:55 PM)
He was player.

His sole purpose there is to jack up prices, not to bid for property.
*
Does the auctions here work like those in UK?

Say this prop's reserve is RM1m.

Buyer 1 bids RM1m as the opening.

Buyer 2 (the Player) Bids RM1.01m

Buyer 1 Bids RM1.05m

Buyer 2 Bids RM1.06m

Auction ends.

Buyer 2 wriggles out of the sale, does Buyer 1 have to buy it at RM1.05m??
AskarPerang
post Jun 24 2019, 01:00 AM

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QUOTE(Bjorn1688 @ Jun 23 2019, 11:41 PM)
Does the auctions here work like those in UK?

Say this prop's reserve is RM1m.

Buyer 1 bids RM1m as the opening.

Buyer 2 (the Player) Bids RM1.01m

Buyer 1 Bids RM1.05m

Buyer 2 Bids RM1.06m

Auction ends.

Buyer 2 wriggles out of the sale, does Buyer 1 have to buy it at RM1.05m??
*
No.
If that case happen (the winner unable to complete or forfeit the process), a new auction will be set and start back at reserve price of 1M. Everyone got another chance to bid again.

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