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TaipingTiger
post Oct 15 2017, 10:15 AM

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lelongtips
or just PM me with you budget and area of interest.
TaipingTiger
post Oct 15 2017, 02:26 PM

Getting Started
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Junior Member
68 posts

Joined: Nov 2009
QUOTE(Donald Trump @ Oct 15 2017, 12:31 PM)
never buy auction if u dont have experience and skill require....dont have cash as much as ur bidding price better dont touch
many agents other place cannot make it now getting comm from bank to push buyer bid....later many problems is not their problem
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commission will be paid by the bank to the agent of the winning client.
got some agents will still ask the client to pay the commission even if lost the bid. some agents charge for to give you the auction POS.
my service is free of charge but some client will still pay me to cover the petrol money and effort after losing. not that i insist them to pay. I will help you settle up to the point of evicting the tenant out if the unit is tenanted.

newcomer better choose and select a good agent. not all agents are bad agents that only want you money.
TaipingTiger
post Oct 15 2017, 03:34 PM

Getting Started
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Junior Member
68 posts

Joined: Nov 2009
QUOTE(jetwash @ Oct 15 2017, 03:26 PM)
Ah you guys make it sound difficult. I've never bid at an auction using an agent, wasting money only.

Lelongtips is quite ok, google up the full address as given on the free listing, most of the time you'll find the POS or a link to the actual auctioneer.

Otherwise, you can go through auctioneer (not agents) listings here;

Credit Ibrahim Khalil's FB

    http://auctions.com.my
⏩http://www.jtraj.com/
⏩http://arenaauctioneers.my/home/
⏩http://www.leongauctioneer.com
⏩http://cahaya-auction.com
⏩http://masterauctionhouse.com/
⏩http://www.heritageauctionhouse.com.my
⏩http://www.ehsanauctioneers.com
⏩http://www.mnp.com.my/mnp/
⏩http://www.rsmaniam-auctions.com.my/
⏩http://www.proauctionhouse.com/
⏩http://www.auctioneers-sejahtera.com
⏩http://www.ngchanmau.com
⏩www.rajanauctioneers.com
⏩http://www.eszamauctioneer.com/
⏩http://www.srico.com.my/
⏩http://www.kenauction.com.my/
⏩http://swt-auction.com.my
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For most banks, they will be the one paying the agent the commission money. Not the client.
If you bid on your own then bank of course will be happy. Save up their cost.

And for first timer, it's surely better to use a reliable agent. Not everybody got the time to do site visit, check this and that etc.
TaipingTiger
post Oct 16 2017, 11:03 AM

Getting Started
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Junior Member
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Joined: Nov 2009
QUOTE(Sand Dust @ Oct 15 2017, 11:45 PM)
Still confuse if you apply new account for electric, water and undah water, you still need to pay off the previous outstanding bills?
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Yes, you need to clear the outstanding amount before able to change name. Cannot offset the amount from the ex-owner deposit as well. Cannot cash out the ex-owner deposit. You need to place a new deposit.

QUOTE(Sand Dust @ Oct 16 2017, 12:11 AM)
What the agent will provide? Site visit, utilities check, infor sharing etc?
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Depend. Some property need to do title search. Some property is a sure hard to obtain bank loan. Need use liquidator.
I will mention this again. Engage a good agent to clear your doubt.
Auction is not everyone cup of tea.
TaipingTiger
post Oct 17 2017, 12:45 AM

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Joined: Nov 2009
QUOTE(jcts @ Oct 17 2017, 12:14 AM)
Basically agent will provide you the details of the auction property. Some auction property, bank will settle the utilities outstanding amount. It depends on the auction property.

First auction normally the starting price is 10% off from market price. If nobody bid in the first auction then second auction will lower 20% off.

Each bid is 10k increase.
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Incorrect info. Bid increment will depend on the reserve price of the auction property. For mass market property price below 200k, increment will be only 1k per bid. Above 200k to 500k normally will be 2k increment each bid.

Only high end property and a few rare court case, the bid increment will be as big as 10k.

 

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