several missed payment = bank consider that the borrower no longer has the capability to service the loan

the owner will only go bankrupt if the lelong price cannot cover the debt (loan amount + penalty + misc charges) and owner cannot settle the remaining balance.

Lelong cannot view unit because people who wants to bid at auction is not owner yet (only winner of bid have right to access the unit) example: a girl have many admirer but all cannot see her private part but once the successful bidder (husband) get her.. sure can see la

There are a few case of owners pretending to be agent and collect commission from tenant when renting out.

u are looking at wrong auction site.. most probably fake site to scam people

Legitimate auction site post future auction date and no such thing as sold before auction date

This is the only thread in property forum that people are genuinely helping you with honest answer

Other thread are full of property agent and their clones trying to sell their properties

I am not any expert but just a layman. I saw the picture of the caveat, top right says "ditolak".. maybe he could not prove $$ was paid and the application to caveat the property was not accepted?

Let's put it this way, no one in the auction market will pay that high for this property especially when there are so many more to come in the near future

More than half of those active in auction property have a few million $ in spare cash and pay cash for these properties.

If u are new and have limited funds, do proper homework before playing in this game.

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.

My personal experience, bid for a leasehold property in KL, direct transfer from developer as it's brand new unit before handover of key.

Very important to get an experience lawyer if u are getting a loan and must settle within 90 days.

I use a cheap lawyer but I buy cash for my properties so it's not a problem. The process took almost 6 months for me to get keys after settling all paperwork.

I got my lawyer after I have won the bid


Agent fee you will have to pay cash out of your own pocket

Correction: For every 1000/10,000 loser, there will be 1 winner. This world is cruel to those that do not do their homework

it's not who but this is the odds

this world is not fair until for every failure, there are one success. The odds are 1000/10,000 need to fail before you find a single winner.

Why worst than defaulters?? Care to explain?

Loser = gambling in casino and lost. Out of 1000/10,000 loser, there are 1 winner

Defaulter are a different breed, they buy a property way beyond their means and have no ability to pay

Once the price dropped to 10% below ACTUAL market value, sure people will sapu

If things go right:

Owner sells house to you at a price u can accept (must pay high deposit for owner to pay bank to stop auction) without the risk of people bidding to sky high price at auction. Owner takes the deposit u pay and goes to bank to stop auction process at last minute by paying the "default" payment. Then both parties goes thru normal buying/selling procedure

If things goes wrong:

Owner sells house at a price you can accept but owner took the money to buy drugs or pay off relatives/friends and did not contact bank. Auction proceed and the house sold to other buyer. Then u will have a big headache. If owner declares bankrupt, you can kiss your "high" deposit goodbye

Yes, you can go together with owner and hand over cash/cheque to bank directly after successfully negotiate to halt auction. Make sure you do your homework and check outstanding maintenance. Some can be above $20K

How is it possible to have $15K outstanding? Najib's apartment at Pavillion?

Usually 3 months don't pay, TNB will disconnect