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jetwash
post Oct 16 2017, 11:47 AM

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QUOTE(landplus @ Oct 16 2017, 02:52 AM)
This here is an example of a listing from an agent.

Most importantly they won't reveal the address of the auction property, because if they do you'll just google it up and find it on the actual auctioneer website.
junbow
post Oct 16 2017, 11:55 AM

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QUOTE(jetwash @ Oct 16 2017, 11:44 AM)
Here's what I do before I bid;

1. Google around for auction properties.
2. Get the Proclamation of Sale. Read terms esp on who pays the outstanding maintenance fees, quit rent, assessment fees etc.
3. Site visit. Estimate for repairs. If owner stays at the property, cancel and go back to step 1. Get a copy of utility bills for checking.
4. Do title search at land office. Can skip this if master title. If got private caveat by individual then go back to step 1.
5. Go for bidding with a set budget (always below bank valuation).
6. Win - sign contract; lose - return to step 1.
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simple and easy to understand thumbsup.gif
AskarPerang
post Oct 16 2017, 10:55 PM

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Good sharing to all regarding bank lelong property. Must always check, double check and triple check.


jcts
post Oct 17 2017, 12:14 AM

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QUOTE(Sand Dust @ Oct 16 2017, 12:11 AM)
What the agent will provide? Site visit, utilities check, infor sharing etc?
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Basically agent will provide you the details of the auction property. Some auction property, bank will settle the utilities outstanding amount. It depends on the auction property.

First auction normally the starting price is 10% off from market price. If nobody bid in the first auction then second auction will lower 20% off.

Each bid is 10k increase.

TaipingTiger
post Oct 17 2017, 12:45 AM

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QUOTE(jcts @ Oct 17 2017, 12:14 AM)
Basically agent will provide you the details of the auction property. Some auction property, bank will settle the utilities outstanding amount. It depends on the auction property.

First auction normally the starting price is 10% off from market price. If nobody bid in the first auction then second auction will lower 20% off.

Each bid is 10k increase.
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Incorrect info. Bid increment will depend on the reserve price of the auction property. For mass market property price below 200k, increment will be only 1k per bid. Above 200k to 500k normally will be 2k increment each bid.

Only high end property and a few rare court case, the bid increment will be as big as 10k.
jcts
post Oct 17 2017, 12:57 AM

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QUOTE(TaipingTiger @ Oct 17 2017, 12:45 AM)
Incorrect info. Bid increment will depend on the reserve price of the auction property. For mass market property price below 200k, increment will be only 1k per bid. Above 200k to 500k normally will be 2k increment each bid.

Only high end property and a few rare court case, the bid increment will be as big as 10k.
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Sorry. I didn't make it clear. I was talking about my own experienced. 10k per bid for 300k over property. It could be higher if auction property is more than 500k. I m just guessing.

This post has been edited by jcts: Oct 17 2017, 12:58 AM
landplus
post Oct 17 2017, 02:39 AM

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QUOTE(jetwash @ Oct 16 2017, 11:47 AM)
This here is an example of a listing from an agent.

Most importantly they won't reveal the address of the auction property, because if they do you'll just google it up and find it on the actual auctioneer website.
*
Agents may not publish the address but will definitely give when asked coz buyers need to examine the property.

trust4you
post Oct 17 2017, 08:19 AM

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QUOTE(AskarPerang @ Oct 15 2017, 01:47 PM)
This is what you called hit jackpot. won at 379k single bidder. 4th re-auction. Drop from first auction pricing of 520k. Subsale price 550k - 600k.



Example only. It will not be all rosy.
Just google search the story someone found a dead body in the fridge of the lelong property he won in Mont Kiara. Many many years ago.
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|

Wrong la bro,
I read the comment, this is Tiara park home in kajang, u see the toilet exactly what it is like from the picture.
subsale home only price at RM360k
http://www.propwall.my/classifieds/2557505...or-sale-by-yuki
cheapest also got RM325K
http://www.propwall.my/classifieds/1409171...le-by-hudsontan

if bigger sqf only rm400k only
http://www.propwall.my/classifieds/2557512...or-sale-by-yuki

Of cos she wanna make it look rosy and all say market price RM600k la blabla bla to make it sounds like she so pro. lol sweat cool2.gif ranting.gif
trust4you
post Oct 17 2017, 08:23 AM

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QUOTE(trust4you @ Oct 17 2017, 08:19 AM)
|

Wrong la bro,
I read the comment, this is Tiara park home in kajang, u see the toilet exactly what it is like from the picture.
subsale home only price at RM360k
http://www.propwall.my/classifieds/2557505...or-sale-by-yuki
cheapest also got RM325K
http://www.propwall.my/classifieds/1409171...le-by-hudsontan

if bigger sqf only rm400k only
http://www.propwall.my/classifieds/2557512...or-sale-by-yuki

Of cos she wanna make it look rosy and all say market price RM600k la blabla bla to make it sounds like she so pro. lol sweat cool2.gif  ranting.gif
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only one thing good is there is kitchen cabinet installed and all, so still untung for her though. haha smile.gif but kajang if RM620MV as she clained why not get a good landed, u could get a landed corner storey lot 3000sqf for RM620K in kajang
http://www.propwall.my/classifieds/1419383...le-by-na-kumarr


junbow
post Oct 17 2017, 08:43 AM

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QUOTE(trust4you @ Oct 17 2017, 08:19 AM)
|

Wrong la bro,
I read the comment, this is Tiara park home in kajang, u see the toilet exactly what it is like from the picture.
subsale home only price at RM360k
http://www.propwall.my/classifieds/2557505...or-sale-by-yuki
cheapest also got RM325K
http://www.propwall.my/classifieds/1409171...le-by-hudsontan

if bigger sqf only rm400k only
http://www.propwall.my/classifieds/2557512...or-sale-by-yuki

Of cos she wanna make it look rosy and all say market price RM600k la blabla bla to make it sounds like she so pro. lol sweat cool2.gif  ranting.gif
*
Those 300k+ is for 900+sf
She bought one is bigger..1483sf, market sell around 500k..still consider jackpot la..100k different tongue.gif

This post has been edited by junbow: Oct 17 2017, 08:45 AM


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AskarPerang
post Oct 17 2017, 10:47 AM

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QUOTE(trust4you @ Oct 17 2017, 08:19 AM)
|

Wrong la bro,
I read the comment, this is Tiara park home in kajang, u see the toilet exactly what it is like from the picture.
subsale home only price at RM360k
http://www.propwall.my/classifieds/2557505...or-sale-by-yuki
cheapest also got RM325K
http://www.propwall.my/classifieds/1409171...le-by-hudsontan

if bigger sqf only rm400k only
http://www.propwall.my/classifieds/2557512...or-sale-by-yuki

Of cos she wanna make it look rosy and all say market price RM600k la blabla bla to make it sounds like she so pro. lol sweat cool2.gif  ranting.gif
*
Please understand the word market value or bank value. Of course in today market everyone is selling asking below market value. Nobody able to sell at market value price today.
noswear
post Oct 17 2017, 12:40 PM

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QUOTE(AskarPerang @ Oct 15 2017, 01:32 PM)
Read the term and conditions. Some bank cover fully all outstanding cukai, maintenance fees, sinking fund, fire insurance and late charges penalty. Usually foreign bank like Hong Leong, SCB, Citibank very generous and will cover all.

AmBank cover partial. Only maintenance fees will cover. Sinking fund and cukai need to own pay.
PBB cover the outstanding with a limit cap base on the value of the property.

Utilities bill you need to pay. TNB, SYABAS, Indah Water. There are ways to check.

Your 100k statement is wrong. It is too general. Mostly will be the same cost involve like buying from subsale. Here I put down the cost:
1. 10% dp of the final winning price. rest 90% using loan or (70% loan + cash)
2. Legal fees for DOA & Loan Agreement. (lelong no S&P so legal cost will be slightly lower compare to buying from subsale).
3. Stamp duty (MOT & Loan).
4. Valuation fees.
5. Outstanding utilities bill.
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If dun need to sign S&P. What documents do you sign in replace of S&P?


AskarPerang
post Oct 17 2017, 01:28 PM

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QUOTE(noswear @ Oct 17 2017, 12:40 PM)
If dun need to sign S&P. What documents do you sign in replace of S&P?
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Proclamation of sales
jetwash
post Oct 17 2017, 02:09 PM

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QUOTE(TaipingTiger @ Oct 17 2017, 12:45 AM)
Incorrect info. Bid increment will depend on the reserve price of the auction property. For mass market property price below 200k, increment will be only 1k per bid. Above 200k to 500k normally will be 2k increment each bid.

Only high end property and a few rare court case, the bid increment will be as big as 10k.
*
I've been in auctions where auctioneers increase the bid size because of the high number of bidders. Even for below 200k props. Basically it's their discretion.
Sand Dust
post Oct 17 2017, 10:27 PM

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The force is too dark

If this would be more transparent, I believe pricing anomalies will be much less.


AskarPerang
post Oct 28 2017, 10:47 AM

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Fully furnished lelong unit. What are the odds?


icemanfx
post Oct 28 2017, 11:58 AM

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The last of dibs development to vp next year, number of auction is expected to climb for next 3 years.

This post has been edited by icemanfx: Oct 28 2017, 11:59 AM
jetwash
post Oct 28 2017, 12:10 PM

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QUOTE(AskarPerang @ Oct 28 2017, 10:47 AM)
Fully furnished lelong unit. What are the odds?


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Tengok jugak kat fb tadi. Legend jugak ni sampai dpt tv 😁
Sand Dust
post Oct 29 2017, 10:42 AM

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QUOTE(AskarPerang @ Oct 28 2017, 10:47 AM)
Fully furnished lelong unit. What are the odds?
Before entering the house after getting the authorization, wont they need to at least inform the owner? Then why the owner will keep their belonging there? Also the door is safety door, quite surprise they can actually able to open it (seem easily)
heavenly91
post Oct 29 2017, 01:15 PM

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QUOTE(jetwash @ Oct 16 2017, 11:44 AM)
Here's what I do before I bid;

1. Google around for auction properties.
2. Get the Proclamation of Sale. Read terms esp on who pays the outstanding maintenance fees, quit rent, assessment fees etc.
3. Site visit. Estimate for repairs. If owner stays at the property, cancel and go back to step 1. Get a copy of utility bills for checking.
4. Do title search at land office. Can skip this if master title. If got private caveat by individual then go back to step 1.
5. Go for bidding with a set budget (always below bank valuation).
6. Win - sign contract; lose - return to step 1.
*
Interesting

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