Unlikely to be 850 as forced sale value aka auction price should be below bank value, otherwise no bidder.

Buying auction is oredi a 'disadvantage' with no viewing and winner accepts the property as is basis. If the reserve price is not attractive, bidders better buy subsale UNLESS the subject property is HOT in demand.

In a property valuation report, there will be 2 prices indicated ... current market value and forced sale value.

Banks DONT promote the property market value. They only want to recover the loan. Whatever terms or wording in auctions used are by agents and bidders have to be careful.

This post has been edited by mini orchard: Nov 10 2022, 08:27 AM

If every investors are well informed, then property invesment aint interesting. Is not that everyone trying to 'cheat' another, but risk is in every investments and greed also goes together.

Buyers have choices. Greed has no limit.

This post has been edited by mini orchard: Nov 10 2022, 11:41 AM

Not always true.

Some are new bidders just entered the market and would want to buy it no matter the price as long cheaper than subsale.

As for those previous intended bidders who abstained and subsequent fight and lost or won, they 'deserved' it.

Stupidity has no limit.

This post has been edited by mini orchard: Dec 24 2022, 12:47 PM

Every bidders are novice except you.

What makes you think all seek advise from gurus ?

Your students ?

You lousy guru.

You can be pessmitic till sunset, but someone out there is gonna make money no matter bull or bear run.

I repeat ...

You can be pessmitic till sunset, but someone out there is gonna make money no matter bull or bear run.

For every loser there is a winner.


You can be pessimistic till sunset, but someone out there is gonna make money no matter bull or bear run.

This post has been edited by mini orchard: Dec 24 2022, 06:23 PM

These are the groups I like.

As if is my problem to solve.

This post has been edited by mini orchard: Dec 24 2022, 06:26 PM

Who is this 1 winner ?

Lets wait for his answer.

You are telling all those 999/9,999 successful bidders in the auctions are losers ? Then they are worst off than the defaulters, .... yes ?

This post has been edited by mini orchard: Dec 24 2022, 10:18 PM

For every defaulter who lost their property tbrough an auction, there will be a winner bid.

If a winner bidder cannot sell the property more than the price he bid later, then he is worst off than tbe defaulter and should abstained.

And not every defaulter buys a property beyond their means and landed in auction later but majority are.

In any wager or casino game, is always the gambler against the promoter, ie. 1 :1. So is either the gambler or promoter wins in a game. A gambler dont bet with another gambler in a casino. The numbers of gamblers win or lose doesnt matter..

A group of 10 friends combined a pool to play against the promoter is still consider 1:1 and not 10:1



This post has been edited by mini orchard: Dec 25 2022, 01:14 AM

Of course you can. Is termed owner's auction. If is diy by owner in subsale is termed FSBO.

But the cost is 1.5x or more compared to sale by agent. Unless you are very sure there are enough bidders to come in and not just one or none.

Again the starting bid price must be attractive to entice bidders coming to bid.

If you want to start with market price, better go through agent or diy.

Unless your property or location is sought after piece, a miracle can happen similar to the Temasya Glenmarie unit.

This post has been edited by mini orchard: Dec 25 2022, 03:46 PM

Msian sellers are generally greedy and prefer low risk selling. Few are willing to start the bid below market price to entice bidders.

Most, if not all only willing to pay cost AFTER a sale and NOT BEFORE.

Msian property owners must first learn to accept exclusive sale by an agent which is a standard practice in Western markets.

In auction, whether banks or owners,, starting bid matters.. Haunted or facing htc or etc, there will always be buyers.

Eg, facing iwk is better than facing foreclosure thereafter.