Latest interest hike (after the 0.25% hike back in early 2018):
CIMB by 0.1%
Bank Muamalat by 0.11%

Heard rumours few other banks will follow increase but no official news yet from other banks.

As posted in this post here: https://forum.lowyat.net/index.php?showtopi...post&p=91499180

Got live video from the FB page. However, NCM took down the video few days later.

https://www.lelongtips.com.my/
VIP account. but not all past auction results will be stated, and sometimes even got typo in the price just like in brickz.

Yes, that's the recent one. The news reported on that night auction.

Once again ppl never learn lesson.
5 bidders. Emotional bidding.
Guess end up how much?

If you buy from subsale, you will still need to pay the same legal fees, stamp duty, etc.
Those that bid above market price will be noob buyer or driven by emotional. Very rare case (like the above latest example: M City unit). Normally newbie that didnt check and compare how much the market is asking for unit of the same size.

Just general info:

For property that got human staying, got demand I mean.
Normally still need 3 rounds of price drop. (10% cheaper each round), then only the reserve price able to attract bidders.

For property that fetching low demand, oversupply, good example is at Cyberjaya (especially studio unit), or for landed property is Hillpark, then will drop beyond 5-6 rounds maybe.

And for bumi lot, will drop like 2-3 rounds extra coz is harder to get qualify bidder.



This post has been edited by AskarPerang: Jan 27 2019, 01:17 PM

For property that got human staying, got demand I mean.
Normally still need 3 rounds of price drop. (10% cheaper each round), then only the reserve price able to attract bidders.

For property that fetching low demand, oversupply, good example is at Cyberjaya (especially studio unit), or for landed property is Hillpark, then will drop beyond 5-6 rounds maybe.

And for bumi lot, will drop like 2-3 rounds extra coz is harder to get qualify bidder.

7 bidders just now.
Bumi lot.
Brand new virgin condition unit. Facing swimming pool. Nice view.

Anyone wanna guess end up sold how much?

Where got so much.
The cost is just like buying from subsale property. You are paying the same thing.

10% as downpayment (for 1st and 2nd property. 3rd property onwards, you will need 30% as bank allow to loan you up to 70% MOF only)
5% as legal fees, stamp duty (assume no 1st home buyer waiver) and valuation fees

For newly completed property, be sure that the 1st owner bank already disburse out all money (especially the final 2.5% payment) to the developer.
Developer is still alive and active to avoid any delay in the later process.

Then that's it. There should not be any additional cost involve.

This post has been edited by AskarPerang: Jan 29 2019, 05:06 PM

Loan agreement legal fees and stamp duty already included as part of the 5%.

Of course, if this is your 3rd property, buying from subsale also bank allow margin of finance up to 70% only.
Is the same.
Anyway noted, will edit the above post to better clarify the costing.

Not many willing to share the experience in dealing with lelong units with occupants still inside.
This is a good free sharing.

No correct answer. Refer to the proclamation of sales. All depending on the bank. But general answer:

1. Most banks will cover fully those outstanding.
2. Some banks will cover partial.
3. Some banks will not cover.
4. Also got case when the reserve price drop to too low, the bank update the POS from fully cover to no cover those outstanding.

Of course will be inform before hand, wont be last minit stuff.

Every re-auction, a new POS will be generated. Many assumed is only to update the new cheaper price, new date and time. All other T&C will remain the same.
But nope. Got bank will change the T&C when the price drop to a very low price.
Therefore, is best to read back everything again each time.

Nope. Remortgage / refinance / top up loan margin of finance (MOF) will still base on how many property you are serving loan.
Coz auction cannot mark up loan.
In her example, she won at 169k.
70% MOF = 118.3k loan.
You do remortgage / refinance / top up loan up to bank valuation in her example is 320k.
70% MOF = 224k loan.

The differences around 100k+ (after minus all the additional costing), you cash out to buy the next below market property. Increase DSR again by giving rental income (minimum 6 months period).
That's how she (or they) can repeat the above cycle again and again.

p/s: take islamic loan so that do not have lock in period.
p/s: some bank allow top up loan, so when they apply for the initial bank loan will inform let the bank / banker know before hand that they gonna do top up loan straight after full disbursement completing settle the auction process.

This post has been edited by AskarPerang: Feb 12 2019, 08:53 AM

Just like low cost units, anyone can buy from the auction market.
But if got bumi quota, will still apply.

Below 300k. Brand new house. KLCC unblock view.

Launch at 300k. Now you can get a unit at below launch price. And no need to be first home buyer to qualify to buy also. Anyone can buy as long as you got the money.

C-33A-07, Block C, Residensi Pandanmas 2
Reserve price 🔥🔥RM283,500🔥🔥
900 sqft
High floor facing KLCC view
Leasehold
Auction: 19 Feb 2019 (Tuesday)
*BUMI lot
*Vacant virgin condition unit



Example view out from the unit (similar facing and height):

Another interesting case to share today.
Last month Jan auction at 648k, nobody interested.
Price drop to below 600k today, attracted 14 bidders. Haha.
No point guessing the price end up how much.
Plus this is not the only house from that area available in the lelong market, still got other choices.

Bank will take from the winning bidding price.

Another interesting case study to share, as below:


Cheap lelong unit available. Almost at half price now.
Location beside the "abandon" selayang star city

No bidder again. Is this place also abandon as well?
Dirt cheap pricing as below:

A-03-02, Block A, 162 Residency
Reserve price🔥🔥RM 159,600🔥🔥
Leasehold
965 sqft
Auction: 19 Feb 2019 (Tuesday)




Bank value for this unit is at 300k.
Already drop price many rounds.

196k previous 2 rounds before this no bidder.
177k previous round no bidder.
159k today, 12 bidders. Hahaha. Sold at 209k.

Video of the bid:




Further details of the unit:



This post has been edited by AskarPerang: Feb 19 2019, 11:23 PM