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 Auction properties

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aku_ker
post Oct 26 2018, 11:42 AM

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QUOTE(gld998 @ Oct 26 2018, 08:29 AM)
Yes. Better for me. I bid from SG for auction property. Dont have to squeeze with all the siao lang and all the underhand ghost bidders, shark lawyers etc. If above my budget, i just dont bid. Less emotions and more profit focus with less distractions.
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Sound goods, let say if you didn't win any bid, how they return the bankers cheque and if you win they will post you the auction contract?
dragonnite999999
post Oct 26 2018, 01:22 PM

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QUOTE(AskarPerang @ Oct 25 2018, 12:55 PM)
As mention previous, case by case basis. But are you willing to take such risk?
Here an example, still can pull out even after being declared as the only registered bidder:


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can auctioneers forfeit the bidder 10% deposit bank draft if he is the only bidder & refused to bid?
icemanfx
post Oct 26 2018, 03:13 PM

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QUOTE(dragonnite999999 @ Oct 26 2018, 01:22 PM)
can auctioneers forfeit the bidder 10% deposit bank draft if he is the only bidder & refused to bid?
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No.

forever1979
post Oct 26 2018, 04:12 PM

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QUOTE(icemanfx @ Oct 26 2018, 03:13 PM)
No.
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you sure ?

last time i thought for high court case, the bailiff can do that.
icemanfx
post Oct 26 2018, 04:24 PM

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QUOTE(forever1979 @ Oct 26 2018, 04:12 PM)
you sure ?

last time i thought for high court case, the bailiff can do that.
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Submitting bank guarantee merely qualified one to bid.

AskarPerang
post Oct 26 2018, 04:57 PM

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Yet another lelong fairy tale story to share:

» Click to show Spoiler - click again to hide... «



S1-09-02, Vista Alam, Jalan Ikhtisas 14/1, Seksyen 14
Reserve price 🔥🔥RM284,000🔥🔥
714 sqft, 1CP (dual key unit)
Leasehold
Auction: 19-Sep-2018 (Wed)

Sold at 312k just now. 5 bidders.
Very cheap price. Good catch.

New owner hit the jackpot. Unit tenanted at RM1400 + RM600 = RM2000 monthly.
While his loan installment to the bank at only RM1350. Wow. Positive cash flow with zero effort. Ready unit. Ready tenant. drool.gif
Down to luck actually.


gld998
post Oct 26 2018, 07:15 PM

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QUOTE(aku_ker @ Oct 26 2018, 11:42 AM)
Sound goods, let say if you didn't win any bid, how they return the bankers cheque and if you win they will post you the auction contract?
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Yup. Just return the deposit.
aku_ker
post Oct 26 2018, 07:24 PM

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QUOTE(AskarPerang @ Oct 26 2018, 04:57 PM)
Yet another lelong fairy tale story to share:

» Click to show Spoiler - click again to hide... «

S1-09-02, Vista Alam, Jalan Ikhtisas 14/1, Seksyen 14
Reserve price 🔥🔥RM284,000🔥🔥
714 sqft, 1CP (dual key unit)
Leasehold
Auction: 19-Sep-2018 (Wed)

Sold at 312k just now. 5 bidders.
Very cheap price. Good catch.

New owner hit the jackpot. Unit tenanted at RM1400 + RM600 = RM2000 monthly.
While his loan installment to the bank at only RM1350. Wow. Positive cash flow with zero effort. Ready unit. Ready tenant.  drool.gif
Down to luck actually.


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How much is the maintenance fee?

QUOTE(gld998 @ Oct 26 2018, 07:15 PM)
Yup. Just return the deposit.
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Ok thanks
Zavia/GenX
post Oct 31 2018, 02:53 PM

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QUOTE(AskarPerang @ Oct 24 2018, 08:58 PM)


2 bidders register for this lelong unit. both also refuse to bid.
after 10 mins, auction called off and declared as no bidder.

But you have to take the risk. Jurisdiction totally down on the auctioneer and lawyer on site. So are you willing to risk the 10% cheque and try your luck register to bid but not bidding?
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I didnt realize can video video there.
U were not the 3rd bidder? Or public can kepo kepo masuk?

QUOTE(lucerne @ Oct 25 2018, 12:25 PM)
this case is diff, auctioneer increased the reserve price on the spot (thot that 2 bidders will accept higher price and start bid), but both refused. i think both hope to win at original reserve price.. if the auctioneer start from the original reserved price , maybe can get slightly higher price.

go back to earlier question, if u are the only bidder , and the auctioneer agreed to let go at reserved price then u have to accept.. saw a person regretted after hammered.
*

I thought it was irrevocable. Cant listen now, cos in office.

submergedx
post Oct 31 2018, 05:04 PM

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QUOTE(AskarPerang @ Oct 26 2018, 04:57 PM)
Yet another lelong fairy tale story to share:

» Click to show Spoiler - click again to hide... «

S1-09-02, Vista Alam, Jalan Ikhtisas 14/1, Seksyen 14
Reserve price 🔥🔥RM284,000🔥🔥
714 sqft, 1CP (dual key unit)
Leasehold
Auction: 19-Sep-2018 (Wed)

Sold at 312k just now. 5 bidders.
Very cheap price. Good catch.

New owner hit the jackpot. Unit tenanted at RM1400 + RM600 = RM2000 monthly.
While his loan installment to the bank at only RM1350. Wow. Positive cash flow with zero effort. Ready unit. Ready tenant.  drool.gif
Down to luck actually.


*
If the rental so good, no reason people will lelong the unit de wor
This is like TOTO, good thing happen once in a while
gld998
post Nov 1 2018, 11:29 AM

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QUOTE(submergedx @ Oct 31 2018, 05:04 PM)
If the rental so good, no reason people will lelong the unit de wor
This is like TOTO, good thing happen once in a while
*
thumbup.gif thumbup.gif thumbup.gif
leodinouknow
post Nov 1 2018, 11:35 AM

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QUOTE(submergedx @ Oct 31 2018, 06:04 PM)
If the rental so good, no reason people will lelong the unit de wor
This is like TOTO, good thing happen once in a while
*
thats why TOTO is a must buy even in small amount. who know you is the next millionaire? devil.gif
Zavia/GenX
post Nov 1 2018, 03:50 PM

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QUOTE(submergedx @ Oct 31 2018, 05:04 PM)
If the rental so good, no reason people will lelong the unit de wor
This is like TOTO, good thing happen once in a while
*
Cos sometimes other property they have didnt rent out or losses in forex/stock/emas/premierleague/medical, then cannot bayar the bank the monthly mortgage, so use cc for food and petrol, then when cc maxed out, and friends n family sudah disown, have to jual assets. Then mau jual in short period cannot, bank take n lelong, ggwp.

Our liabilities all are 'dangerous' to carry, car loan house loan credit card unpaid student loan makbapakbrothersisteruncleaunty loan and so on, if we dont juggle our finances well we have to face the consequences.
icemanfx
post Nov 1 2018, 04:05 PM

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QUOTE(Zavia/GenX @ Nov 1 2018, 03:50 PM)
Cos sometimes other property they have didnt rent out or losses in forex/stock/emas/premierleague/medical, then cannot bayar the bank the monthly mortgage, so use cc for food and petrol, then when cc maxed out, and friends n family sudah disown, have to jual assets. Then mau jual in short period cannot, bank take n lelong, ggwp.

Our liabilities all are 'dangerous' to carry, car loan house loan credit card unpaid student loan makbapakbrothersisteruncleaunty loan and so on, if we dont juggle our finances well we have to face the consequences.
*
Many listened to poorperly guru, housing loan is a good debts and didn't realize/mention debts is only good if keeping up with repayment.

This post has been edited by icemanfx: Nov 1 2018, 04:12 PM
forever1979
post Nov 1 2018, 04:31 PM

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loan interest is likely on upward trend...

so if the loan amt is huge like RM1mil, incremental of monthly installment could be significant.
BEANCOUNTER
post Nov 1 2018, 04:56 PM

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QUOTE(forever1979 @ Nov 1 2018, 04:31 PM)
loan interest is likely on upward trend...

so if the loan amt is huge like RM1mil, incremental of monthly installment could be significant.
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Its all relative lah....

Ppl that bought 1mil home and 200k home....different keras.
David_77
post Nov 1 2018, 05:53 PM

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QUOTE(Zavia/GenX @ Nov 1 2018, 03:50 PM)
Cos sometimes other property they have didnt rent out or losses in forex/stock/emas/premierleague/medical, then cannot bayar the bank the monthly mortgage, so use cc for food and petrol, then when cc maxed out, and friends n family sudah disown, have to jual assets. Then mau jual in short period cannot, bank take n lelong, ggwp.

Our liabilities all are 'dangerous' to carry, car loan house loan credit card unpaid student loan makbapakbrothersisteruncleaunty loan and so on, if we dont juggle our finances well we have to face the consequences.
*
but if the person belajar from expert icemanfx, tak akan rugi.

This post has been edited by David_77: Nov 1 2018, 06:27 PM
torres09
post Nov 1 2018, 06:13 PM

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QUOTE(Zavia/GenX @ Nov 1 2018, 03:50 PM)
Cos sometimes other property they have didnt rent out or losses in forex/stock/emas/premierleague/medical, then cannot bayar the bank the monthly mortgage, so use cc for food and petrol, then when cc maxed out, and friends n family sudah disown, have to jual assets. Then mau jual in short period cannot, bank take n lelong, ggwp.

Our liabilities all are 'dangerous' to carry, car loan house loan credit card unpaid student loan makbapakbrothersisteruncleaunty loan and so on, if we dont juggle our finances well we have to face the consequences.
*
ad***n w**?
😁😁
nexona88
post Nov 1 2018, 06:16 PM

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QUOTE(David_77 @ Nov 1 2018, 05:53 PM)
but if the person belajar from expert icemax, tak akan rugi.
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laugh.gif laugh.gif laugh.gif

u sure about it ahh brows.gif devil.gif

profit all the way huh rclxm9.gif
David_77
post Nov 1 2018, 06:17 PM

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QUOTE(nexona88 @ Nov 1 2018, 06:16 PM)
laugh.gif  laugh.gif  laugh.gif

u sure about it ahh  brows.gif  devil.gif

profit all the way huh  rclxm9.gif
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super sure boss.

she gives FB lah, bitcoin lah, jjptr leh... all profit making vehicles.

people buy popoti are lousy sad.gif

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