Go to the bank with owner to discuss and work out a deal. Make him an offer above reserved price. Nego till happy three sides.

If you bid, you may lose and have to shift unless winner wants to cont renting.

This post has been edited by mini orchard: Oct 30 2020, 09:26 AM

Normally bidder wont mind cont if he is not in hurry to move in....plus immediate returns.

Depends how each interpretate 'As is where is basis'. My opinion...is void.

Unless no other bidders, tenant buy at reserved price. Depends on defaulter whether he wants to take risk and lock the deal.

This post has been edited by mini orchard: Oct 30 2020, 10:24 AM

Can you state a case to your statement ?

This post has been edited by mini orchard: Oct 30 2020, 12:46 PM

Someone successful extension doesnt mean is also applicable to other cases.

Alternatively, apply the loan with the same auction bank to reduce documenation flow .... hopefully it helps.

Finally, if one cannot afford to take risk, buy subsale or from developer.

If a bidder goes into the auction room with a tight cashflow, winning a bid is low.

This post has been edited by mini orchard: Dec 26 2020, 07:20 AM

Date of Loan Agreement when borrower first took the loan.

There are so many lelong units and I am sure the property agent company cannot swallow every unit.

Every successful bid cost money and not guarantee can be resold at subsale.

Those re-auctions are normally units that successful bidders cannot complete the purchase within the time period.

Bank is not interested in the physical structure of the property. Bidder take possession 'as is basis'

Most likely, is chained by the current owner or maybe it could even be the neighbour to prevent unauthorised entry and for his safety since many bidders may want to try to view the inside prior to bidding.

Pay cash, then look for the appointed Liquidator/Receiver to complete documentation

If I were you, I give this property a pass. One wouldnt know how long it takes or further problems may be encountered.

No matter how cheap the property or how much one likes it, if is not a straight forward transfer, ignore it.

This post has been edited by mini orchard: May 16 2021, 01:24 PM

Ownership transfer is uncertain ... not for own stay or investment .... easy to buy, difficult to sell if you are stuck with the transfer problem .... unless you sell cheap like auction .... like how you bought.

Some properties have title problems after 30 years that is bought from bankrupt developers. Potential buyers cannot borrow from bank and can only buy cash like you.

Take my advise .... let it go. There are other better properties in auction.

This post has been edited by mini orchard: May 16 2021, 02:53 PM

Next time, post the link here and forumers will help to check.

As the name suggest, rasmi is for official purpose. Private for own use.

A private search may not contain all informations and is risky to use for official purpose. Wrong decision can be made with a private search.

The risk is your own assessment. No right or wrong asnwer.

Can you afford to lose the 10% if things go wrong ?

The diff between both searches is the price.

You dont do search daily, so cost is not a big concern.

Two way about it. Either pay cash or abstain from bidding

Normally agents fee are paid by some banks. If not, then bidder pays. But agent has to prior inform bidder. Range from 2 to 3%, same as subsale.

This post has been edited by mini orchard: May 24 2021, 02:09 PM

DIY ... if not sure how and for which debt, post here. Forumers will help.

You are refering to quit rent, assessment, iwk, and maintenance ?

In order to call off auction, borrower need to pay quite a sum of money ... not just 1 or 2 instalment, otherwise banks will still proceed.

I followed and attended 1 auction in Tmn Kinrara 1. Seventh time finally sold. Every auction, there is a winner.

Normally winner cannot complete the transaction within certain time but may have few cases where borrowers try to salvage the auction but I doubt they can do it every time.