Auction properties
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 Aug 3 2021, 08:23 AM
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#1
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Senior Member
2,834 posts Joined: Dec 2020  
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Has anyone studied the impact when there are large amounts of auctions in a development?
Ie. Creating unequal playing field for the investors which thus leads to more abandonment of the property which leads back to more auctions. |
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Aug 3 2021, 12:56 PM
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#2
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Senior Member
2,834 posts Joined: Dec 2020
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QUOTE(icemanfx @ Aug 3 2021, 11:49 AM) Poorperly investment has never been a equal playing field. leverage may lower the barrier of entry but carry heighten risks which poorperly guru and those vested conveniently omitted to mention. Sad. How to be a first world country when you can’t even protect consumer interests.most if not all valuers do consider recent auction price in their valuation. lower valuation and ltv will reduce number of loan dispersed/transacted. stressed vendors that holding on to whim and fancy price may become default and subsequently lead to more auction later.  It occurred to me that the public on the losing end are genuine homebuyers or aspirational youth who may not be as well informed. |
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Nov 10 2022, 08:08 AM
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#3
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QUOTE(Aldo-Kirosu @ Nov 10 2022, 07:50 AM) I have a question regarding auction value. A lot of investor sharing, to get good roi and profit, better looking property below 30 - 40% It’s not an exact science. I don’t know if you can get it 30% below subsale. But consider current ongoing rents as well as that feeds into the sustainability of it as an investment.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? Aldo-Kirosu liked this post
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Nov 10 2022, 08:42 AM
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#4
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QUOTE(mini orchard @ Nov 10 2022, 08:19 AM) Unlikely to be 850 as forced sale value aka auction price should be below bank value, otherwise no bidder. Well the newly vp properties that go into auction right away are as good a deal as any still with developer warranty. The only question was how severely overpriced it was on the SPA and how much cash back they gave. I think there were cases where buyers were very happy with 20% below SPA when in reality there was a 30% cash back. Many games to screw your ignorant buyer indeed.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. |
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Dec 16 2022, 05:58 AM
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#5
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Senior Member
2,834 posts Joined: Dec 2020
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Got serious “grudge” vibes. Gonna have hefty priest/ bomoh fees and future buyers will want proof this actually happened.
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Dec 24 2022, 04:29 PM
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#6
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Senior Member
2,834 posts Joined: Dec 2020
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Merry Christmas everyone!
Lelong properties are the coals to be made into diamonds. Happy investing or getting Lelonged (if it works for you). Sorry if it doesn’t and there’s always a new year and new opportunities on the horizon. |
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Dec 24 2022, 07:18 PM
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#7
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Senior Member
2,834 posts Joined: Dec 2020
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QUOTE(mini orchard @ Dec 24 2022, 05:52 PM) I repeat ... Yes these are Malaysians who dumped money into Singapore or any other country. Currently you have deflationary property as well as a currency that is at its historical weakness as well as the threat of becoming the next Iran. What do you do?You can be pessmitic till sunset, but someone out there is gonna make money no matter bull or bear run. |
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Dec 24 2022, 07:25 PM
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#8
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Senior Member
2,834 posts Joined: Dec 2020
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QUOTE(icemanfx @ Dec 24 2022, 06:25 PM) Yes, contemporary history shows, the rich became richer, the poor remains poor and the middle class become the new poor. This is trickle down economics gone wrong or Meleleh down your legs. You vote for what you deserve. Until people start worrying about the present and not the after life this is what you’ll contend with. |
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Dec 25 2022, 04:40 AM
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#9
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Senior Member
2,834 posts Joined: Dec 2020
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QUOTE(AskarPerang @ Dec 24 2022, 08:19 PM) Auction of the year award for year 2022: Did Arte Ampang make the list 2 years in a row? Cumulative would be grand prize winner? |
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Dec 25 2022, 02:14 PM
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#10
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Senior Member
2,834 posts Joined: Dec 2020
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QUOTE(sc07 @ Dec 25 2022, 12:15 PM) Hi sifus, can we list a non default property in the auction so that may sell at higher price? Since overbid situation may occur during competitive bidding. I mean list my private property in the auction market. This is standard practice in Western markets. People routinely pay above the odds but I doubt this works in Malaysia.When the day comes where we are viewed as a tolerant and free market with good governance then property prices will go up. Till then endeavour to make it happen. This post has been edited by Cavatzu: Dec 25 2022, 02:16 PM |
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Dec 26 2022, 08:18 AM
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#11
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Senior Member
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QUOTE(icemanfx @ Dec 26 2022, 12:10 AM) With supply > demand, few foreigners are buying, lacking prime location with magnificent view, it is not easy to sell by bidding. Nowadays Malaysians will consider not facing HTC or cemetery as a win already on top of the usual feng shui considerations. Even then there’s buyers for things with remarkable self convincing. |
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Dec 26 2022, 05:57 PM
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#12
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2,834 posts Joined: Dec 2020
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QUOTE(mini orchard @ Dec 26 2022, 03:24 PM) Those who said property market bad still havent wake up. This is called being opportunistic rather than the market being hot.[attachmentid=11365532] Looks like an Airbnb operator or co living company etc |
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Dec 31 2023, 06:10 AM
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#13
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Senior Member
2,834 posts Joined: Dec 2020
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QUOTE(AbbyCom @ Dec 30 2023, 12:09 AM) This one I no experience but many oversea property gurus like Kiyosaki ask you to approach these motivated sellers and try to work out a deal. Culturally this is not done in Malaysia. Higher end properties do occasionally change hands this way. I’ve heard of neighbours making an offer if they want to buy over your lot for example. But ultimately US property is huge and very diverse compared to ours.Any more experienced seniors here or agents can advise? |
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