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Rinth
post Mar 5 2024, 10:36 AM

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Just know that based on the POS, agent are saying bank cover all outstanding included all the management fees, actually not true. Bank only cover management fee, others such as sinking funds, quit rent, water bill, interest bank not covered....my auction have to outlay around additional RM 3k for these charges. =.= next time need to check very very details with agent which bank really cover everything so that won't under estimates the cost.

This post has been edited by Rinth: Mar 5 2024, 10:37 AM
Rinth
post Mar 5 2024, 04:55 PM

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QUOTE(Aldo-Kirosu @ Mar 5 2024, 02:21 PM)
The most accurate is check POS. Bank and Auctioneer will list in the pos. So read it carefully.

If it state all maintenance, then only maintenance.
If it state maintenance, sinking fund, quite Rent, assessment fee, then it do listed in pos.

So it not mentioned, maintenance late payment charge, water charge, fire insurance.

So most of the time people missed read and assume maintenance fee = total outstanding listed in the maintenance fee statement Bill for that particular unit.
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ya not experience enough....next time need to read and clarify carefully.
Rinth
post May 28 2024, 01:03 PM

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QUOTE(AtMostFear @ May 22 2024, 11:19 PM)
» Click to show Spoiler - click again to hide... «

thanks to everyone who provided tips. unfortunately I didn't win. it was my first auction experience. sharing of my experience for others benefits.

1. went to auction office physically, but all biddings were done online using phone/laptop (reason for being physically there as per my auction agent was that just in case our electronic device stops working during bidding, at least we can inform the auctioneer). 6 bidders registered for the unit I'm interested in but only one other bidder was there physically, others just bid online from somewhere else.

2. this was the 3rd round auction for the unit (previous rounds were conducted at different auction house), and because everyone was sleeping (including me) during previous rounds..the final price ended higher than reserve price of 1st auction round  sweat.gif which is still about 10% below market price, but not sure worth it or not since it's bumi unit & auction unit.

3. ALWAYS STICK TO YOUR BUDGET LIMIT - I shamely didn't follow this rule. the price jumped so fast, and I really wanted to buy the unit for own stay. I bidded until the second last bid before the winner won. if I had won then need to eat maggi everyday  rclxub.gif

anyway good experience. maybe better luck next time.

if only there's an automatic service that could notify me whenever a unit that I'm interested in comes up for auction..e.g. insert keyword "klcc", then whenever a unit that has address klcc comes up for auction, an email/SMS/whatsapp/etc. will automatically be sent to me.
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Yes not winning this 1 is good outcome. not worth it to bid above previous round reserved price.

i enter around 4-5 round and only won the last 1 at reserved price, previous round all other bidder bid over the previous reserve price.

Just be patient and wait for next unit to come.
Rinth
post May 29 2024, 09:16 AM

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QUOTE(engm85 @ May 29 2024, 01:56 AM)
taikor here want to ask u all.

won the auction unit and paid cash. can i later remortgage this auction unit to bank to get back my cash? if yes what's the trick?
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Just refinance normally once the auction process is done.
Rinth
post Aug 7 2024, 12:41 PM

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QUOTE(forever1979 @ Aug 7 2024, 07:52 AM)
agent fee shall be pay by bank on behalf of the seller (defaulter) as this expenses will be charge to the account.

while title search is pay when u want to conduct the search. just like if the interested bidder want to find out the outstanding balance on maintenance fee, TNB or water, if he need the service of the agent/3rd party, he may need to pay for it.
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not all bank..iirc MBSB, PBB Affin no pay agent fee, buyer normally need to pay the agent fee themselves.
Rinth
post Aug 14 2024, 09:39 AM

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QUOTE(staind @ Aug 14 2024, 09:16 AM)
The cow got touch the string.

Actually I have been negotiating with the MC but they are like a thug. Lols. In my opinion, the MC also starting the relationship is a bad way. I write in nicely for appeal. i did not want to mentioned all these in my first post as this more towards emotional an d as I just want to know if there is other options available other than don’t pay and pay up.

Basically I am handed a bill which I am not sure if this is really the amount owned. Many questions asked but they are like act blur or reply others. They just change the name to me and stuck it up to me. Not so  happy about it so I am exploring some options. I got feel like paying it and  will be very critical towards the MC in future.

FYI I am also currently staying at G&G community and never miss a payment.  The 3rd party service provider in my current place has contract that if they are able to collect 90%, they will be given bonus. I believe it is the same scheme for this new unit hence the motivation.
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The GNG are established under what act? But no matter what the act thru auction purchase, new owner have to assume all the outstanding, apart from those defaulter bank absorb.

Since the outstanding is 4k+, if they cannot provide a full statement from it, then nego a better price such as 50% discount...otherwise if they can cough up a full statement, then had to pay the full sum.
Rinth
post Aug 14 2024, 09:46 AM

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QUOTE(staind @ Aug 14 2024, 09:44 AM)
I am also not sure. I got ask the 3rd party service provider but she just act blur. It is an individual title and definitely not strata.
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then you also act blur untill they provide full statement...bug them every week untill they either cough up full statement or provide discount to you.

Rinth
post Aug 16 2024, 11:31 AM

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QUOTE(PAChamp @ Aug 16 2024, 10:09 AM)
There is an exception though and that is if the developer had ensured all the original purchasers sign a Deed of Mutual Covenants with the Developer. The original purchasers may have sold their properties to 2nd purchasers and so on. The courts have held that the 2nd purchaser onwards are also bound by the deed of mutual covenants and have to pay for the "maintenance". So if you case falls under this (you can find out from the documents the bank provides), you have no choice but to pay.
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DMC should be only on stratified properties only.

But iirc there are also development whereby the property itself is individual title, but come with common area with stratafied title, basically the GNG stratafied is on the go straight when VP. so for these pretty sure DMC will sure be signed during SPA signing.
Rinth
post Aug 16 2024, 12:22 PM

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QUOTE(Jingle91 @ Aug 16 2024, 12:16 PM)
Gamuda and SP Setia both got landed house with individual title plus DMC also. It work like strata house, got JMb to manage the whole housing area, good thing is the owner can still apply approval from JMB to do extension and follow guidelines and color code, while strata title house can not change the facade at all.
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ya these should be the 2nd scenario i mention

Most likely those new township development all is like this, individual title with stratafied common area with DMC signed.

This post has been edited by Rinth: Aug 16 2024, 12:24 PM

 

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