Yes, actually doesnt matter auction, subsale or buy new undercon unit, cost involved is the same: 10% downpayment, stamp duty (for S&P + Loan agreement), valuation fees etc. Only undercon not required valuation fees, other fees yes.
Just that for undercon, developer willing to bear some of those cost. To make the package attractive for you to buy. Example only need pay 2% dp (remaining 8% they give rebate), free legal fees (if use their panel law firm), etc. Cost involved is the same, just that developer borne those cost on behalf of you.

Hati kena kental in lelong. Always prepare for the worst.

No bidder just now. Another 10% price drop.
4th round re-auction now. Drop from bank valuation of 850k.
Updated details as below:

D-15-03, Block D, Residensi Fennel Sentul, No. 2, Jalan Amra, Sentul
Reserve price 🔥🔥RM 619,650🔥🔥
Freehold
1238 sqft, 1 car park slot
Auction: Mid Jul 19
*Non bumi lot
*Vacant unit brand new condition



Auction date is now out: 17 Jul 19
Less than 10 days from now.
Full info: http://www.ehsanauctioneers.com/detail.php?id=230915082670

Virgin unit condition. Expected to attract many bidders. Possible price will go higher than last month reserve price. As usual.
Good luck.

p/s: By the way, the same bank queue up another unit for lelong as well: http://www.ehsanauctioneers.com/detail.php?id=230915082660


Attracted 9 bidders. Brand new virgin condition unit.
Sold at 720k. Hahaha. As expected, when price too cheap, will jump back up to above last month reserve price.
Why last month reserve price at 688k everyone still wait for price to drop more?

Another astonishing bidding scene happen yesterday at CIMB mega auction.

Case#1:

S1-11-03, D' Sara Sentral, JAlan Welfare, Bandar Baru Sungai Buloh, Seksyen U19, 40160 Shah Alam
Reserve price: 🔥🔥RM 252,000🔥🔥
Leasehold
504 sqft, 1 car park slot
Auction : 20-Jul-2019 (Sat)
*Non bumi lot
*Vacant brand new condition unit
*Possible required commercial loan (coz is a SOVO)



Attracted 5 bidders.
Unit sold at 352k. Crazy bidding. 100k increased in price.

Last month at 280k nobody interested.
Plus hearsay this unit still got unpaid outstanding GST amount = 25k.
Good luck to the new owner.


Case#2:

This office unit Menara RA: https://www.lelongtips.com.my/property/5895...ur-for-RM199100

Previous Auction(s) for this property
Auction Date Price
2019-06-29 RM226,800.00
2019-06-10 RM252,000.00
2019-05-18 RM280,000.00
2019-04-20 RM311,100.00
2019-03-30 RM345,600.00
2018-06-30 RM345,600.00

Attracted 8 bidders. Sold at 312k.
Why so many previous previous rounds before this no one interested?

Strata title issued. Direct transfer allowed from developer Binastra Land.
Owner occupied unit but hand over professionally:

Attracted 5 bidders just now. Sold at 640k. Hahaha.
When price drop too cheap, will jack up past last month reserve price.
Last month only at 607k but nobody interested.

Old video but still the best example. Re-shared again here:

Opening of lelong unit at Casa Kiara 2:

This house (a Dato owner still staying inside): https://www.lelongtips.com.my/property/5930...or-for-RM984200

Bank value 1.5M. Few bidders.
1 bid 10k.
Sold at 1.18M.

Latest reserve price actually drop to 504k now. Possible to drop further 10% each round if nobody interested.

Source: https://www.thestar.com.my/metro/metro-news...l-ibs-treatment

Launch at 42k rumah selangorku sold in the lelong market today.
Ground floor unit.
Non bumi lot.
Brand new condition.

Attracted 32 bidders just now.
Here the final price:

Owner occupied unit. Revealed during auction time when owner attended the auction and ask ppl not to bid.
But no point. It is too late.
Sold at 324k. Good catch but the new buyer will have to deal with chasing out the owner.

Yes. House kena lelong but still can live larvishly some more. Now no house to stay.

The second floor is occupied by wholesale clothes company. Only his unit not tenanted out at all before. Maybe he just let it go and want to forget this nightmare purchase. Be it sold at how low price in the lelong market.

Very short sighted solution. Temporary. Buy more time maybe.
Coz if really all kesian him and decided not to bid. His property will be saved until 1 more round (next month) but with further 10% drop in price. That time surely will attract even more bidders.

5 bidders. 2 decided not to bid. Only 3 bidders fought it out. If without the owner presence, most probably the price will ended up much higher. I heard got buyer willing to bid till 350k.

So the owner attempt actually backfired in the end. Didnr bring him any gain.