Case by case basis as determine by few factors such as:
1. Efficiency of your lawyer
2. Developer already inactive / bankrupt
3. Efficiency of the local authority
4. Double transfer if title already issued out
etc.

As long as you got valid reason, you can request for extension. This is only valid for LACA units. Reason such as still waiting for loan approval of course is not a valid reason.

For non LACA auction property, is a straight forward process. Direct transfer. No extension is allowed unless example during MCO period, granted extension. But this is considered very special once in a blue moon case.

MCO is valid reason for non LACA case. This is real case story from client.
Lawyer appeal at high court using MCO as excuse for extension.
Hakim granted extension free additional 30 days without penalty.

where got cover all outstanding charges. read word by word.
Not cover:
- Sinking fund
- Assessment tax (cukai taksiran)
- Fire insurance

- Quit rent? not clearly stated
- Late payment interest? not clearly stated

Refer to the entire POS. This stated what not covered. Will have a statement stating what is covered.

And this considered partial cover only by the bank. Such as AmBank.

Arte Plus @ Jalan Ampang

E1A-17-1, The Tamarind @ Sentul East
Reserve price🔥🔥RM 486,000🔥🔥
Freehold
1346 sqft
Auction date: 10-Nov-2020 (Tue)
*Title issued and perfection done.
*High court auction. Outstanding maintenance fees not covered. Do check with the management office how much this unit owing.

I would say majority bidders in the market will take bank loan to finance the balance 90%/70% amount.
It is always case by case basis. So there is no firm answer here.
Or put it this way: is up to the jurisdiction of the auction bank.

Yes, required to pay the 10% deposit upfront first.
If you are successful and after win, then only apply for withdrawal from EPF to get back the 10% amount.
In the EPF form got a section clearly specific for auction property.

Base on my experience. Post moratorium seeing higher demand from bidders. Many looking to buy from the auction market now currently. One reason is because many agents rather promote auction unit than negotiating down the price with owner in the subsale market.

Good example is expressionz at 30% BMV. Attracted 33 bidders and end up price at maybe only 10% BMV. Meaning at 30% BMV many view this price as worth to buy.

Due to this high demand. Is highly unlikely auction price will fall further anytime soon. Prime location property such as Nidoz for example, will transact at 10% BMV. Outskirts property such as in Semenyih or Dengkil or Rawang probably can still get at 30% BMV.

The main point here is do not wait for 1 more round. If you really feel worth it, then just grab rather than waiting for next round. Happen again and again. Next round attracted bidders fight and price end up higher than previous round reserve price.

Anyway, if you are hardworking to survey and search around. I think you are able to catch better deal from the subsale market instead. Coz as stated above, there is a big switch in demand towards auction unit.

My 2 cents opinion only.

Example case study. Non bumi buyer bought over bumi lot unit (bank didnt check and restrict to bumi bidder only in the POS).
Got back the 10% deposit.

What a surprise. Unexplained thing happened today in the lelong market.

A-04-08, 1318sqft, reserve price 315k.
A-03-07, 1538sqf (dual key unit), reserve price 402k.
Both units under the same owner name.

Guess what. Bigger size unit sold at 410k.
The smaller size unit sold at 421k. Big fight.

Last month at 349k but nobody interested.
2 months ago at 387k but nobody interested.

Morale of the story here is do not wait price to drop until rock bottom. There will be many others with the same intention.
Ended up buying at higher price than another bigger size unit.


Previous Auction(s) for this property
Auction Date Price
2020-02-25 RM349,000.00
2019-05-24 RM387,000.00
2019-04-24 RM430,000.00
2019-03-22 RM477,000.00
2019-02-22 RM530,000.00

Nope no such thing.

If you found out the same unit re-auction again is because currently there is an agency doing private auction. Take note that this is private auction, mean owner willingly put the unit up to be sold via bidding style. Is not bank force auction.

The story is from this agency over the years, many of their client bought the unit from the bank auction market. All bought individual name not under any property agent company. Majority if not all of those units will be renovated nicely back to rent or sell back. Currently all such units under auction again under private auction. This agency try to sell back their client unit using bidding style.

Can check back all units previously bought from the lelong market and now already renovated nicely. The difference between owner auction and bank auction is that if you want to buy, you can go view and touch the unit inside condition for such auction. Less risk. But they tied you down with the process must follow lelong T&C. Mean same must have 10% deposit to enter bidding. And must complete with 90 days. Etc.

Depend on bank policy. But currently all banks also eager to dispose off those lelong units the faster the better.
Used to reset back to the original bank valuation (1st round reserve price).
But now I see all units also will start back with the final reserve price before being called off. Start back from there.