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Patent
post Aug 1 2025, 08:05 PM

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QUOTE(jetwash @ Oct 16 2017, 11:44 AM)
Here's what I do before I bid;

1. Google around for auction properties.
2. Get the Proclamation of Sale. Read terms esp on who pays the outstanding maintenance fees, quit rent, assessment fees etc.
3. Site visit. Estimate for repairs. If owner stays at the property, cancel and go back to step 1. Get a copy of utility bills for checking.
4. Do title search at land office. Can skip this if master title. If got private caveat by individual then go back to step 1.
5. Go for bidding with a set budget (always below bank valuation).
6. Win - sign contract; lose - return to step 1.
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Sorry for replying to 8 years old message,

But how do I check for another person's condo unit electric/water bill?
For the maintenance fee I assume I can just walk in and ask the management office? hmm.gif
Patent
post Aug 2 2025, 10:03 PM

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QUOTE(mini orchard @ Aug 1 2025, 09:26 PM)
Electricity bill is under tnb, so you have to approach the utility co.

As for water, it depends if is under bulk meter or Air Sgor, Bulk will be under mgmt, otherwise will be under Air Sgor, then approach the utility co.

You need to show the POS before the utility co or condo mgmt will let you know, otherwise they won't tell anything. Furthermore, you also need to know the name and nric of the account holder for them to check, which is mentioned in the POS.
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Is it true you can change TNB name without settling for the unpaid bills?
Is is the same for indah water in KL?

Also in case of units with outstanding bills and fees, do they have to be paid in lump sum or can be paid in installments?

Patent
post Aug 4 2025, 07:41 PM

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QUOTE(thenazek @ Aug 4 2025, 10:45 AM)
Hi, i bought an auction unit before with 8k TNB outstanding. Crazy af, i know. Somehow the guy pays off the technician or something, to avoid his tnb being cut off.

Long story short, i manage to change TNB to my name without clearing off the previous bill. Just show them my DOA, said im applying for a new unit, and can settle dy. Different case with indah water/air selangor where u cant create a new account without clearing the previous bill.

Maybe its just my case, i dont know.

But i have bought 3 auctions units so far, none have i ever paid for the previous TNB outstanding.
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Great to hear, that's one less payment to worry for laugh.gif
Patent
post Aug 8 2025, 06:05 PM

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QUOTE(AtMostFear @ Mar 22 2025, 11:26 PM)
Hi all, I joined my second auction after this event. Won it at reserved price, 4th round auction for the unit.  smile.gif

Anyway the first thing I was very worried about was adhering to the 90-day timeline to complete the payment. Auction bank was PBB, and I used MBB loan.

So I asked my lawyer to provide a timeline how to achieve this. This was what was given.

14 working days for the developer to revert on the direct transfer
7 working days to comply to the developer request
14 working days for the developer to execute the MOT to transfer to you
14-21 working days for leasehold consent
7-14 working days for your loan execution depending on bank
7 working days to stamp your loan agreement and lodge caveat on bank's behalf
7 working days to advise and disbursement


My property is leasehold, bumi lot, in KL & developer agreed to do direct transfer. So your miles may vary.

In overall, we managed to complete loan disbursement within 68 calendar days. (could've been earlier if I didn't take 1 week to decide which bank to sign for my loan)

I created a whatsapp group with the law firm and followed up the progress diligently every week. Hope this helps for others who plan to join auctions.
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Did you go to each bank and apply loan from them?
Also how do you know a lawyer firm can be trusted to handle it within 90 days? Is google reviews reliable enough? hmm.gif

 

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