1. Generally no. Use your own lawyer as long as the lawyer is panel to the bank you taking loan with. If not panel lawyer, ad hoc can appoint but most bankers today will be reluctant to do that.

2. Lawyer.

3. Yes correct. The auction bank only want the buyer to settle the remaining amount. Got few double transfer cases, the loan bank agree to fully disburse out even when the process still long way to complete. Only 1 or 2 bank actually can deal to do that. But this is also base on case by case basis.

4. New project now already got few VPed with title issued out. Or within 1 year time, developer will issue title. So must always check back with developer on this.

Same T&C like lelong. Meaning after winning, you cant forfeit, must proceed and settle within the stipulated timeframe. Extension if required will be based on the stated T&C. There is no turning back unless you are willing to burn the 10% deposit.
Same "as is where is basis". Just that you are allowed to go in and view / inspect the unit first. That's all.

There is no such thing as bank appointed agent.
Or you mean auctioneer?
Bank will provide info details who is the auctioneer and lawyer to contact.

Another 2 lelong unit sold this week.
Block D and Block A unit.

Block A unit S&P price only at 363K.
While Block D unit S&P price 500K++.


Block D unit reserve price 270K. Single bidder won unchallenged.
Block A unit reserve price drop until 224K. Attracted 10 bidders. Sold at 276K. Last month price around 250K only and yet nobody interested.

Learn anything here?

No such thing. If not all owners would stop paying loan knowing that bank not able to sell off the property. Can stay for free.

So far got no rejected cases from any rumahwip or PPAM or RSKU or any affordable housing scheme lelong.

Recent just obtained approval for name transfer for a lelong unit at Skyawani 3.

Famous “haunted” house finally sold.




Got a brave soul grab at 4.4M.
Good catch?

Auction of the year award for year 2022:

Units entering auction market only for year 2022.
I would say many still remain unsold especially for the top rank project.

Arte plus, O2 and Radia top 5 as well in year 2021.

Another lelong unit sold. As usual people never learn lesson.

Another case of non bumi mistakenly bid for bumi lot unit.
Not stated in the first POS.

Lelong unit sold at high price just now.
From 486K, sold at 651K.
Much higher than last month reserve price of 540K.
And even higher than 2 months ago reserve price of 600K.

What happen here?
Not sure.
Die die must have the unit.
Why last month sleeping? or 2 months ago sleeping?






Another lelong unit sold just now.
From 324K, sold at 419K.

Last month at 360K but nobody interested.
2 months ago at 400K but nobody interested.

Now willingly bought at 419K.
Why?







Again and again.
My best advice to all wanting to buy lelong property.
DO NOT wait for price drop.
If too cheap will attract many bidders and you end up bidding at above last month or even 2 months ago price.

Here’s another example.
Last month lelong at 270K but nobody interested.
2 months ago lelong at 300K but nobody interested.

Today bid fight from 240K and sold at 315K.

So why waiting?




This post has been edited by AskarPerang: Apr 27 2023, 02:52 PM

Who say cannot buy subsidised property from lelong market?


Another rumahwip sold in the lelong market much higher than its launching price.
Launching price 198K.
Sold at 262K now.





Opening of this lelong unit. After 3 months. Time required as per the POS.

2 lelong units sold today.
As expected, the cheaper price unit got many bidders.
From 149K, sold at 182K.

But got another lelong unit at 169K.
Smart bidder enter this unit and grab it unchallenged.

Learn something here.

Another rumahwip lelong unit sold early this year.
Single bidder won unchallenged at 255K.
Launching price 300K.

Good catch.




And loan everything already settled:

Another very good classic example of do not wait for price to drop too cheap.
When it is too cheap, will be eyes opener to many interested bidders.

Price bid back up to 2nd round price (only 10% cheaper than bank value).

Good catch?