Sifus,

I've been learning and  tried to purchase lelong units in setiawangsa/wangsa maju for few times. But everytime I contacted the lelong agent to ask for info, they all informed property already sold despite i contacted them only few hours or a day after they posted it online.
Is there something im doing wrong or something that i dont know?

Im still newbie to auction here.

are the any service provided to check whether the owner is paying the debt or not?

CCRIS cannot check 3rd party.

LACA case like strata title is out but still under developer name. so this case hardly got any caveat?

Need case study here. what could be wrong in this auction property?

It look like
1) The current SnP owner Liew/Shu bought from Koh in 2007? 
2) What does gadaian menjamin wang pokok mean? Refinance to get more money from bank?
3) Chan paid deposit 400k and log caveat on 2016. Till now still cannot get the house? What’s could be the problem?

https://www.facebook.com/KLSelangorBankLelo...?type=3&theater
https://www.facebook.com/KLSelangorBankLelo...?type=3&theater
https://www.facebook.com/KLSelangorBankLelo...?type=3&theater
https://www.facebook.com/KLSelangorBankLelo...?type=3&theater
https://www.facebook.com/KLSelangorBankLelo...?type=3&theater

Nothing wrong in marketing.

But should not mislead.

Very often the agents will claim or mislead the buyer into believing the original sale price as the current market value.

The they will Mis-advertise the property has xx% below “market value” and that the buyer will profit by xx%.

This to me is cheating. Dishonest way of doing business.

Usually the property will be auctioned off very close to market price but way below original S&P price. That’s because a lot of properties were sold at inflated prices to begin with.

One can call it whatever one wants and try to justify but to me it’s being place dishonest.

Hi AskarPerang, any changes on the rules below since 2017? I was in the impression that legal fee for S&P is a must under I read your post

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.

Hi AskarPerang,

I always wanted to ask this. They say you need to give 10% of the winning price. But you won't know what is the final price you will win right?

Say RP is 300,000 and I am willing to bid until max 330,000. Should I prepare a 33,000 bank draft? What if I win at 310,000?

Thanks

which auction website has free POS? most of the website i.e; Lelongtips need u to have credits to view the POS.....or they dont even have it..... so far only NG CHAN MAU website is the best... provide transparent free POS.
Anyone can recommend?

can recommend top 3 sites? most of them there is a link but once u click inside is empty...conjob yet again.... dont they know if they have complete info and provide POS easily they will get more buyers???

I never buy a property in lelong. correct me if im wrong. Want to ask example im interested on a lelong property value 500,000 bank HSBC. What I need to prepare? I saw need 10% deposit and if win bid, 90% balance to HSBC within 90 days, maintenance fee etc. could claim to HSBC, S&P, legal etc is borne by purchaser.

Process 1 prepare 10% and join bidding. (Assume win)
Process 2 I need to get bank loan (how? walk in to bank?), get a lawyer to handle the S&P, legal etc? Estimated how much needed RM?
Process 3 As this is new project and strata title shall be issue soon, i need to prepare a sum of money for MOT? Estimated how much needed?

today my fb spam with all these ad

WHAT THE F---?!!  Arte Mont Kiara..
Bid from RM 640k to RM 1.14 mil…
All agent know what is happening, we looking forward for the unit to re-auction again in future…

what does it means by "All agent know what is happening" ??

hi all sifus,

Recently I am looking at an auctioned unit - RHB. Leasehold, KL address high rise. Strata title ready and it is not perfect. Double transfer is needed.

question to ask:
1) Does RHB absorb the cost of title perfection (legal + stamp duty) from developer to existing owner?
2) I am thinking to bid it at 4th round. is it too late?

Thanks

Double transfer meaning just pay 2 times stamp duty right? If yes, should be quite straightfoward. Wonder why they will forfeit it?

I read through, some forum members said the 1st auction is normally the market value. But is this always the case?

I see an auction house state that market value is rm810k but 1st auction is rm650k (about 20% lower)

Was wondering which is actually the market value. 810k or 650k?