Usually 3 months don't pay, TNB will disconnect

Hi all sifu2 here,

got 1 question, if the auction unit we interested have TNB outstanding let's say 15K and TNB deposit paid by previous owner just 1k,

do we as the successful bidder have to pay to TNB remaining 14K?

or can directly change TNB to our name without paying single cents?

Hi all sifu2 here,

got 1 question, if the auction unit we interested have TNB outstanding let's say 15K and TNB deposit paid by previous owner just 1k,

do we as the successful bidder have to pay to TNB remaining 14K?

or can directly change TNB to our name without paying single cents?

My case:
I have bid for this house back in October 2023. Upon signing my lawyer informed me this will be double transfer, even though I check in POS the strata title has yet to be issued (my bad i should've check with land office). Fast forward to after 90 days, my lawyer said still pending with auction bank's lawyer, they need to get their client's consent/instruction before proceeding. I don't understand why bank want to delay this part? I have been granted extension for additional 90 days until April 2024 without penalty but i'm getting restless with bank's delay. Appreciate your constructive advice.

If it's auction bank delay, not thing can do, so they grant your extention without penalty.
If it developer delay, ask lawyer to chase the case tightly for double transfer matter.
Yourself also chase your lawyer tightly for the update.

I used the auction agent's recommended lawyer, because they are familiar and experienced in auction property legal matter especially those caveat case, double transfer, state authority consent, etc etc.

Good luck.

Many years ago same thing happened to me - I wrote to the CEO of the bank - no response then I sent reminder and cced their holding company Chairman in UK.

The CEOs secretary called me for a meeting - bank agreed to pay 3 months rental for their delay.

Woah so inspiring 👏🏻 I sent email to their general enquiry address they have replied and asked for document. let's see if their officer can help me. If you have copy of your letter to CEO, would you mind sharing with me please? 🙏🏻 thank you!

where is the best source (without bleeding my wallet) to see the history of transacted auction price for any particular property.

where is the best source (without bleeding my wallet) to see the history of transacted auction price for any particular property.

where is the best source (without bleeding my wallet) to see the history of transacted auction price for any particular property.

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.

My case:
I have bid for this house back in October 2023. Upon signing my lawyer informed me this will be double transfer, even though I check in POS the strata title has yet to be issued (my bad i should've check with land office). Fast forward to after 90 days, my lawyer said still pending with auction bank's lawyer, they need to get their client's consent/instruction before proceeding. I don't understand why bank want to delay this part? I have been granted extension for additional 90 days until April 2024 without penalty but i'm getting restless with bank's delay. Appreciate your constructive advice.

Hi Askar perang, recently i win a bidding and the lawyer quote me Proclamation of Sale Legal fee & the standard loan legal fee.

Thought from your comment here mention no S&P, so legal cost will be lower? at 1st my impression is there wont be any S&P/POS legal fee related legal fee, only loan legal fees.

There is still legal cost known as DOA (deed of assignment).

Hi Askar perang, recently i win a bidding and the lawyer quote me Proclamation of Sale Legal fee & the standard loan legal fee.

Thought from your comment here mention no S&P, so legal cost will be lower? at 1st my impression is there wont be any S&P/POS legal fee related legal fee, only loan legal fees.

Was this auction a high court auction ?