I has a question hope can get answer from all the senpai.

What is the problem buy a lelong property if
1. Developer bankruptcy? (With or without liquidation)
2. Owner staying the unit?
3. If title haven't issues/not yet perfect done

For 1st one I am more concerned about the how was the maintenance for the condo?
1. Electric, water, all the utility will still useable?
2. How was the maintenance for condo like facilities maintenance, Bomba maintenance, lift maintenance, sinking maintenance, guard security.
3. Need any extra money except the house price we bit? Like double transfer? Or is we still can get our title?
4.if developer in liquidation, is my property (successful bidder) will facing any problem?

Sorry the question is a lot. Hope can get a clear picture.

This is an unit status my mum interest to bid.
Biggest problem is cash buy and yes we are cash buyer, we may still consider if the upper question can be answered. Thank you

Because it near to my sister working place.
And it's gated and guarded, safety for 1 girl to stay
And it's nearby to the area we familiar, shopping mall, all the public transportation system.

But sound fool when you know a lot of problem but your mum still want that unit so bad. Haha 😂

And of course take this opportunity to learning about this.

Indian onwer
Don't know who is he

I only know need to spend another 2 to 3k to get banishment order from lawyer site and helped by police to banish the owner if owner not willing to corporate.

During MCO, a lot of online course is provided, and auction property investment course is one become viral as well. Can see now a day more investors start playing Auction market. Is it a good or bad sign for property industry? Haha

Since Auction market is hot now, hope this thread can be keeping update frequently. And sharing the story like unit reauction etc.

M vertiva auction viral rise a issues, is it real if the buyer not paying progressive interest, bank will auction the unit? (i know m vertica block A B obtain vp already).

scenario
1. Not pay progressive, unit was auctioned before vp
2. not paying progressive, unit was auctioned after vp (immediately)
3. not paying progressive, unit was auctioned after vp 3 month (not serve the installment as well)
4. Any abandon unit auctioned before? if the buyer failed to serve the interest.

But some of the auction case required winner to settled the outstanding (downpayment) before able to claim the key from developer.

For what i know and thinking is, Buyer loan 70%, left 10% downpayment. Buyer unable to pay the installment, and then the unit has been auctioned. After several round, a buyer win the auction and get the unit. So once everything settled, want to get the name transfer from developer then only know, this unit not yet vped due to left downpayment. so the winner buyer responsible to pay the defaulter downpayment then only able to claim the unit.

some auction bidder not even do the due diligent at developer park before bidding.

Is it true? free to stay at subsidised property.

Should be, but if the project yet to name transfer, still under developer name, and most of the time rumahwip is leasehold property. Need to get the consent as well. So unclear about this situation.

Opr increase 0.25 again. 2.75 ATM.

Is it compusolary to pay the installment based on interest rate increasing?

If failed to do, will the unit become lelong? Or just the loan amount accumulated for longer loan tenure. But at least the unit not getting lelong.

I have a question regarding auction value. A lot of investor sharing, to get good roi and profit, better looking property below 30 - 40%

So if let said an auction unit when should us in?

10 year old condo
Spa price with developer 1million
Net price with developer 900k
Bank value 850k
Market value average from property search engine + transection record 750k

So the word below market value should be based on 750k? Or 850k?

Let said bank auction based on back value 850k as starting.

Yeah, the value start should be from below current market. But before a unit going into auction, bank will assign valuer to check the property value first right? Haha at here we can see actually the bank want to help defaultor as well. But of course the bidder will not in at first round. And wait it drop 20 to 30% or even 50%.

I agree the amount we can enter the bid logically should based on the current rental. So I just curious for any investor planning to playing flip game that only see the different price. 30% bmv are referring based on current market value or the bank value. Let said 1st round auction is bank value 850k.

Because I for example current viral m vertical bumi lelong, it start with net price from developer (predicted). I know its new, yet have market value like old sub sale property, but 1st round auction based on bank value is not unrealistic.

Yeah if ready remove the house became empty, people will still think this is haunted property? Compare to haunted property in lelong, I think illegal med lab property is even worst. But congrats to winner.

I think pudu prison go through this ritual before, haha now who will worry about the resident* before?

Spent 4.4m for ultra natural seen like a great deal. Hope this buyer can contribute more experience and proof of ultra natural thing in this world and deeper the ulta natural research topic. So that in feature we will have more research topic or maybe have business with ultra natural resident.

What is the appropriate step to enter won unit?

After loan disbursement?
Or after name transfer?

Which party is the authority to allow new owner go into won auction unit?

Bank? Jmb? Develop? Defaultor? Lawyer? (bank site or developer site)

Hmm yeah I believe this is the norm step. But for a case on sqwhere, leasehold + double transfer taken 396day to access the won unit. From the page owner (agent) said loan disbursement early (which mean within 120day) so why want to wait so long to access to auction unit? Just curious somethings beyond the norm to defend auction winner to access the unit even after loan disbursement & clean the maintenance outstanding

I have a question regarding what ownership change name process need to do for auction property?

Title : name transfer done by lawyer
Assessment & quite Rent : done by lawyer or winner need to go website or office to change the new owner name?
Maintenance & water: done by jmb / menagement office
Tnb: go to tnb change ownership
Indah water: this one need to change? At website or office?
Just curious I missed any other things?

Auction market is hot now, not because mco ended, a lot people participated the auction online class, and all of them was been taught bid when below 30%. So from what I observed, except bumi lot / problematic unit (cash buy) and very infamous location, mostly auction unit will drop to 30% and bid up to around 10% below market value only. Not too bad as it still below market value, but the risk involved not worth the price. Now a day, if it drop below 19% (2round) can go in liao.

Pity to those been auctioned property owner, especially property was auctioned during Pandemic.


Let saidRM500Kloan 35year payment period 4.5% interest rate monthly repayment is RM 2366, if became 10%, month installment will be 4298

extra RM1932 interest.
1932+ 1864 (interest portion from 2366) =3796 every month add into principle accumulatively every month since the interest adjusted? Horrible.