Why this guy needs to specifically mentioned that he was against 10 Chinese auction agents? I would imagine if a Chinese who wrote that he was against 10 malay auction agents, he will be immediately labelled as racist.

Winning fair and square against 10 other bidders is respectable regardless the races... Does he means win against chinese is more satisfying than own race?

Nothing wrong in marketing.

But should not mislead.

Very often the agents will claim or mislead the buyer into believing the original sale price as the current market value.

The they will Mis-advertise the property has xx% below “market value” and that the buyer will profit by xx%.

This to me is cheating. Dishonest way of doing business.

Usually the property will be auctioned off very close to market price but way below original S&P price. That’s because a lot of properties were sold at inflated prices to begin with.

One can call it whatever one wants and try to justify but to me it’s being place dishonest.

Then is unfair to loan defaulter. He will also incurred additional interest. Not sure the bank is generous to waived.

Right and Left hand also charge interest .... winner for sure.

That is without a doubt.

If the bank forfeit the 10% without extension, whose account the money will go to ?

Has anyone studied the impact when there are large amounts of auctions in a development?

Ie. Creating unequal playing field for the investors which thus leads to more abandonment of the property which leads back to more auctions.

Sad. How to be a first world country when you can’t even protect consumer interests.

It occurred to me that the public on the losing end are genuine homebuyers or aspirational youth who may not be as well informed.

today my fb spam with all these ad

WHAT THE F---?!!  Arte Mont Kiara..
Bid from RM 640k to RM 1.14 mil…
All agent know what is happening, we looking forward for the unit to re-auction again in future…

what does it means by "All agent know what is happening" ??

Maybe developer bid to push up the market price?

It's not subsale now competitive but too many amateur in auction property

The experience ones will only bid for properties that are at least 20% below subsale, but nowadays many inexperience people only look at SPA price and sometimes even bid with emotions.

Is it true? free to stay at subsidised property.

Yeah, the value start should be from below current market. But before a unit going into auction, bank will assign valuer to check the property value first right? Haha at here we can see actually the bank want to help defaultor as well. But of course the bidder will not in at first round. And wait it drop 20 to 30% or even 50%.

I agree the amount we can enter the bid logically should based on the current rental. So I just curious for any investor planning to playing flip game that only see the different price. 30% bmv are referring based on current market value or the bank value. Let said 1st round auction is bank value 850k.

Because I for example current viral m vertical bumi lelong, it start with net price from developer (predicted). I know its new, yet have market value like old sub sale property, but 1st round auction based on bank value is not unrealistic.

Well the newly vp properties that go into auction right away are as good a deal as any still with developer warranty. The only question was how severely overpriced it was on the SPA and how much cash back they gave. I think there were cases where buyers were very happy with 20% below SPA when in reality there was a 30% cash back. Many games to screw your ignorant buyer indeed.

If every investors are well informed, then property invesment aint interesting. Is not that everyone trying to 'cheat' another, but risk is in every investments and greed also goes together.

Not always true.

Some are new bidders just entered the market and would want to buy it no matter the price as long cheaper than subsale.

As for those previous intended bidders who abstained and subsequent fight and lost or won, they 'deserved' it.

Stupidity has no limit.

Every bidders are novice except you.

What makes you think all seek advise from gurus ?

Your students ?

Before iceman reply I already can anticipate the reply 😂

You lousy guru.

You can be pessmitic till sunset, but someone out there is gonna make money no matter bull or bear run.

I repeat ...

You can be pessmitic till sunset, but someone out there is gonna make money no matter bull or bear run.