Opening of this unit with plenty of free gifts.
Good catch.

Same unit. And is a he. Won by Dr Ishaq. No idea he bidded for his own or for a client.

Just sharing an interesting finding:

A quick search in lelong for newly completed unit that head straight into auction market.
Can see that majority owner got burnt from newly completed property gang is from the late 80s.

Here few example:


Silk Sky, owner born year 1984:
https://www.ngchanmau.com/pos/4188/pos_en?v=1529650908



Lakepark Residence, owner born year 1986:
https://www.ngchanmau.com/pos/4095/pos_en?v=1529651050



BTP 5, Acacia Park, owner born year 1989 & 1991:
https://www.ngchanmau.com/pos/4014/pos_en?v=1529651084



M Residence 2, owner born year 1986 & 1989:
https://www.ngchanmau.com/pos/3939/pos_en?v=1529650797

Any registration done with "agent" is not counted, is not valid actually.
Real actual registration need to be done 30 mins before the auction start, that's the usual cut off time.
You need to submit in your banker cheque in.

If you are still in doubt, then just dont submit the cheque in, that's all.
Don't worry you wont be black listed coz you havent even register at all in actual fact.


p/s: unless is an online bidding. current new trend now. then yes, you must register before hand to entitle to bid via online.

Not possible. Have to forfeit the deposit and let go the won lelong unit. The unit will then be reauction back again starting at the last auction reserve price.

When price drop to too cheap, hard to expect to win at cheap price. Especially when got change in front figure, example 400k maybe nobody will check out that unit but 395k then many ppl will open eyes and check out further. Physcological effect.

Another interesting story to share:

Astonishing bidding today. 9 bidders fight.
From 236k bid until 310k.

Lelong fairy tale story to share:

A-22-03, Block A, Central Residence @ Suria Sungai Besi, No. 366, Jalan Sungai Besi
Reserve price🔥🔥RM 235,700🔥🔥
Freehold
643sqft
Auction: 14 Jul 18

Single bidder won it today. So lucky. Very cheap.
This Dr got it:



Wow. Immediate break in with plenty of free gifts.
Lelong jackpot of the year this unit.

He already counter check with the management. Access card already barred for more than 1 year. That's why so confident can break inside the unit right after winning. Most probably the owner couldn't be bother anymore about the house.

But is still down to pure luck to get a unit with so complete so many free stuff. Once in a blue moon.
You will never know what you will find inside the house actually. Also got horror story. Hahaha.

Here is a case study:
2 winner and 1 loser in this scenario.

First owner bought at 356k back in year 2012.
Sold in 2017 for 430k. Big winner here. Still able to flip in this dying market now.

2nd owner who bought at 430k. Big loser. Got terminate and ran out of work. Not able to afford this unit. House kena lelong.

3rd owner grab the lelong house when drop until 333k in 2018.
Another big winner here. Able to buy something cheaper than 6 years ago developer price.

And yes, there are many many more newly completed property now you can get cheaper than developer launching price in the lelong market today.

Guess what. This unit got thrown back into the auction market now.
Hahaha. Apparently is a bumi lot.

Moral of the story : Do not bid if u never check the status of the property...😣😣😣😣

This condo under master title with malay name, document never stated bumi lot. 2 chinese bidder bid and one of them won on 21/4. Today the unit reauction back with bumi lot status..Actually ordy know the result but i can't stop them to bid as ppl might think i am kepoci (busy body) or sindiket to stop them from buying...i am not sure their deposit how, but should be able to claim back( hopefully they have experience on it or agent to help them )

Here is the tips :

🤔master title + malay name

( please confirm with developer whether non bumi can buy or not as we need developer consent)
❌ if cant confirm, DO NOT BID.

🤔 individual or strata title + malay name

(Do title search at land office, usually auction at high court, anyone can buy unless malay reserve land)
❌Do not assume freehold is mean anyone can buy


C-3A-5, 7 Tree Seven Residence, Jalan Cuepacs 3
1056 sqft (Type B2)
3+1 rooms, 2 Car Park
Freehold
Reserve price 🔥🔥RM 291,600🔥🔥
Auction date: 18-Aug-2018 (Sat)

Sold at 585k. 8 bidders.
If you scroll above, can actually win without fight at 567k back in Jul last month. Haha.

Coz still under master title. Developer needs to fulfill and meet the quota. If oversell out to non bumi, later when want to get individual strata confirm will face problem.

Applicable to all freehold project but still under master title. Doesnt matter lelong unit, subsale unit or developer unit. Unless the developer already applied and get approval from authority no need to meet the bumi quota.

Buying power is trully back? Million dollar props ppl also fight.
Or maybe everybody tries to buy before SST kicks in?
But then again ppl saying SST will actually decrease house price? No?

Not bad deal. Free grill, kitchen cabinet, aircon, water heater, etc.

Opening of the unit:

I dont think that is the process for rumahwip if ended up in auction.
So far no real case example for rumahwip but already got lelong unit for rumah selangorku.

Process same like low cost flats. No restrictions. Anyone can bid. No salary restriction. Not restriction to first house buyer only. All those low cost or affordable home restriction is throw out of the window in auction.
Only restriction is bumi / non bumi. That quota still apply.

The name transfer process not a problem. No restriction as mention above.
But after buying, you still have to follow the low cost restriction meaning you cannot sell within 5 years. But you can still "force sell" via lelong. Haha.
See the loophole there?

This post has been edited by AskarPerang: Sep 10 2018, 12:22 AM

Will be same like low cost properties. Investors willing to bid above market price coz that is the only method they can own those props.

Anyway I beg to differ regarding rumahwip will be lesser quality compare to normal condo.
Rumahwip majority own stay.
When a place majority owner own stay VS normal condo majority investors rent out not staying around, the place with majority owner own stay will be better managed. And as a whole, the place will improve. Compare to a place where majority tenants staying. Sure they couldn't be bother about the place.

VIP account of famous lelong website able to check. But sometimes not all units updated and some units also wrongly update. If you call auctioneer, you definitely need to know the auction date and lot number if got many units auction on the same time.