This guy whack all 9 units of Park Avenue office at Damansara Damai. Been there before and is a total dead place. I wander.

got mrt2 in near future.
its cheap, auction starts about 100psf

Why if owner stay, cannot bid ? Scared he won't move out if U win the auction bid ?

How to find out if 1st auction, 2nd auction or 3rd auction, etc ?
Better bid for the 9th auction, then 90% off market price !

Some investors don't mind. Some just don't like the hassle.

I successfully negotiated with the owner (a lawyer some more, haha) for my first auction property. But there are much more complicated stories that has happened to other bidders.

Yeah but that never happens. Well expect maybe Bukit Beruntung in the good old days.

Price goes down 10% from the last reserve price each time, not from the initial price. So it's not quite 90% off at the 9th auction.

This post has been edited by jetwash: Dec 21 2017, 03:30 PM

Windows On The Park@ Bandar Tun Hussein Onn, Cheras
2395sf ,4rooms 4baths, Freehold
Market Value RM920K. Reserve Price: RM745K
Total 5 bidders fight.
Sold at 792k.

still about 40 percent lower than market asking price. good deal for own stayer. the maintenance is hefty tho for that size.

RM700 now. very reasonable. few years time when cant keep up with costs to maintain such a condo, expect it to breach RM1k lah

Updated info selected units on sale this month.

Alliance Auction ( Expected ⚠️ 27/1/18)
- M-city RM 488,430 674sqft
- Bayu Sentul RM 398,600 1630sqft
- Amara B caves RM 283,500 998sqft
- Paragon Pangea RM 324,000 675sqft
- 38Bidara KL RM 461,700 689sqft
- 3elements SOFO RM 210,000 647sqft
- Armanee Terrace1 RM 769,500 2282sqft


OCBC Auction @ ⚠️25/1/18⚠️
- Quartz Melawati RM 1.674 mil 5658sqft (B)
- V12 SOVO RM 177,300 500 sqft
- Sunway Eastwood RM 1.458 mil 3196sqft SemiD
- Simfoni heights RM 275,400 947sqft
- Prima u1 RM 275,600 1050sqft
- Solstice RM 279,000 450sqft
- Amaya Saujana RM 801,900 1890sqft
- Clover garden RM 1.44 Mil 3200 sqft SemiD

are lelong prop really on the rise as compared to before? or is it perception only because more ppl exposed to lelong scene?

which one value for money from this list?😁

Probably yes but the main factor is nobody buying. Meaning you are seeing the same unit entering the auction market again and again and again.

Bayu Sentul probably worth looking at. Vacant unit. Reauction #7. First auction 750k. Now drop till less than 400k.

More of similar or cheaper are or will be available. those with bullets have many choice, need not rush to bid.

This post has been edited by icemanfx: Jan 9 2018, 11:55 PM

my pov - more VP units now go to auction unlike before....

Property club & bulk purchasers not interested in auction scene? Seems like got plenty of deals out there....

Property club ppl don't usually go for auctions. They go for Developer units and can usually cash out 15-20% cash from the bank loan after disburse. Then they use the cash go shopping spree or cover bank loan for a few years then hoping to flip after that.

Wait til their cash out finish, they'll be doomed

Auctions have huge potential than under con, only cash buyers can enter in this playground

lelong is the playground for the cash rich bro...property club or whatever their mantra is as less cash as possible during purchase. developers only can offer that mang coz usually they already sell at future price.LOL

so the bulk purchaser can get "discounts, cash rebates, yada yada"

truly below market value is at the lelong scene. but no easy also. lots of traps for the inexperience. from lelong u can get cashflow and capital appreciation (coz buy wayyy cheaper than market value). but still sometimes got retards who bid similar or above the market value.LOL

bro what are the risks and traps?

Property club business model is like Geneva gold, will work only in bull market. Property market is likely to remain stagnant longer than their cash could last.