Few results update:

icity seems to be hot in demand. studio size unit. i wander why. any insider news to share?

here prove people willing to bid until 300k in auction.



another unit sold 250k in auction here:



and now this is last year lelong unit won at 265k. eventually when open the unit, it is fully furnish condition. airbnb unit. lucky buyer.
able to flip at 355k within a month.

Symphony hills got 2 units. 2 storey semi D. Posted in that thread there. Different bank but same valuation. Drop from 1.7M.
Currently is at 1.24M.
Expecting to fall below 1M before anyone bids for the unit.

Depending on what stated in the POS. Some banks cover fully. Some banks cover partially and some bank no cover at all.
Anyway, as a wise buyer, of course you dont simply blindly go and bid without checking first. Sure to check it out.

- Check with the JMB / MC on all outstanding fees. (sometimes water is still under JMB).
- Check with that area Majlis Perbandaran / Bandaraya for all outstanding cukai taksiran.

Utility bill is harder to check. If possible need to korek the mailbox to get. Utility bank wont cover but no harm trying your luck as per a rare case here:

Bank gives out loan for the house but the owner didnt repay the bank.
Easy. Because bank wants to recover the loss. So auction is the fastest method to find a new buyer.

Very rare case today. Low cost flat able to fetch 230k in the lelong market!!!
9 on site bidders + 4 online bidders = 13 bidders total, reserve price starts at 100k only.

Maybe got gold mine inside the unit. Who knows.

p/s: Sri Aman apartment by the way to those wandering. Located just next to Taman Paramout LRT station.







This post has been edited by AskarPerang: Mar 29 2018, 11:08 PM

Yes selected bank and selected auctioneer now able to bid online live.
In near future, I would say 100% all auctions can do online live bidding.

Same. You have to bank in the 10% amount to the auctioneer when registered online at least 1 day before. But refund process will take few days tho if you are the unsuccessful bidder.

Yes but not all property will auction at the same state the property is at.
Coz in KL you can still find property being auction all over malaysia. Like Sabah, Sarawak. So online bidding will serve the purpose for those ppl there buying the property over there and the auction is held in KL.

Part 2 of that low cost lelong unit. No wander hit above 200k. This is not the first time. Last year unit there sold via lelong at 267k for a 650sqft low cost flat! Wow!

8 Petaling size 2024sqft unit sold at 720k today in lelong market.
5 on site bidder + 2 online bidder = 7 bidders
Reserve price started at 626k.



Video online + on site bidding of the unit:

This is public auction. Open to all. Anyone can enter. Free viewing. And free food too. Haha.

As compare with high court auction. Is close door. Only registered bidder or authorized nominated representative of bidder can enter.

If the bumi lot restriction is not stated in the POS, then you will get back the 10% and the unit will reauction back at the last reserve price with bumi lot restriction imposed.

Problem is got some over confident buyer, after winning straight cleared all the outstanding amount with own money. Those of course not able to claim back and will be considered burnt. New bumi purchaser after that will be happy and surprise to find the lelong unit that come with zero outstanding.

Got real case happen for Vista Alam unit. And the chinese bidder actually paid side deal another 2 bidders not to bid for rm5k each. All his effort wasted.

This post has been edited by AskarPerang: Apr 6 2018, 08:04 AM

Don't spoil the market by having this ill intention.

Solstice 2 unit sold at 348k. 2 on site bidder + 2 online bidder = total 4 bidders.
Still cheap but not smart enough. Should just enter at 328k previous reserve price and take unchallenge at 328k last month. 20k wasted.
Yes again experience show that when price drop too low, price gonna end up high above previous reserve price.






This post has been edited by AskarPerang: Apr 20 2018, 05:45 PM

No S&P for auction property. You are using the sales contract.
Valuer also will but this under forces sale pricing in the valuation report.

You appoint lawyer to help you to do the name transfer. Will be based on the force sale pricing.

If you are taking bank loan, then there will be another lawyer to do the loan stuff. For this part is just like subsale property.

2 bidders today. Unit sold at 430k. Congrats.
More than 50% below subsale price, more than 60% below bank valuation.






This post has been edited by AskarPerang: Apr 28 2018, 01:14 AM

This unit: http://www.lelongtips.com.my/property/5431...r-for-RM1150000
3 bidders.
Sold at 1.27M.

JB props. 5 bidders. Dominated by only 1 race.
Bid until exceeded previous reserve price. But a check in brickz, same size unit transacted at 820k before.
Still very cheap in lelong at this final price.

Launch at 1k psf nett (after rebate). Now can get at half price in lelong?