Read the term and conditions. Some bank cover fully all outstanding cukai, maintenance fees, sinking fund, fire insurance and late charges penalty. Usually foreign bank like Hong Leong, SCB, Citibank very generous and will cover all.

AmBank cover partial. Only maintenance fees will cover. Sinking fund and cukai need to own pay.
PBB cover the outstanding with a limit cap base on the value of the property.

Utilities bill you need to pay. TNB, SYABAS, Indah Water. There are ways to check.

Your 100k statement is wrong. It is too general. Mostly will be the same cost involve like buying from subsale. Here I put down the cost:
1. 10% dp of the final winning price. rest 90% using loan or (70% loan + cash)
2. Legal fees for DOA & Loan Agreement. (lelong no S&P so legal cost will be slightly lower compare to buying from subsale).
3. Stamp duty (MOT & Loan).
4. Valuation fees.
5. Outstanding utilities bill.

This is what you called hit jackpot. won at 379k single bidder. 4th re-auction. Drop from first auction pricing of 520k. Subsale price 550k - 600k.



Example only. It will not be all rosy.
Just google search the story someone found a dead body in the fridge of the lelong property he won in Mont Kiara. Many many years ago.

Good sharing to all regarding bank lelong property. Must always check, double check and triple check.

Please understand the word market value or bank value. Of course in today market everyone is selling asking below market value. Nobody able to sell at market value price today.

Proclamation of sales

Fully furnished lelong unit. What are the odds?

Just to name a few (all can be found on FB):
Shariza Abd Latif - Lowcost specialist. Many info can be found on her page.
Azrie Zaid - Lowcost specialist
Adlan Hafiz / Adlina MN - Brother & sister team
Muhammad Ishaq - A doctor. Miliion2 high end property also enter.
Ibrahim Iderus - Many info can be found on his page.
Izwan Latiff
Yusuff Azlan
Mohd Hafiz Bin Kamaruddin - Famous guy in white spec. Attention seeker.
Shafie Bustan - Doing kontena business. Already turn into money oriented guy. Can unfollow him.
Selangor Auction Property - Very updated with the auction results.

Here's another interesting case.

Is the 'new' developer that want to buy over the land who bought up the unit. at least will save them a unit of less hassle and no need to compensate as well.

Some agent provide assistant as runner to help you change the following details as well.
All the below mention stuff you have to settle yourself as you are buying via lelong. Cheap things surely need more work of course.

p/s: for TNB. got trick no need pay the outstanding amount. can absorb to the ex owner name. just change name and start brand new account number.

Membuka rumah lelong lowcost. Cash flow game.

High end property auction fight!!!



Some random results:



This post has been edited by AskarPerang: Nov 22 2017, 11:10 PM

Summer Suite RP 400k. 4 bidders. CIMB Mega Auction. Sold at 482k. Subsale 500k.

Low cost flat won at 200k.
Property market crashing?

This?

icemanfx

Refer: https://forum.lowyat.net/index.php?showtopi...post&p=87122915

BBB at Bukit Beruntung. 2013 -> 2017.

BBB at Bukit Sentosa this time.

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