Bumi ?

By the way - the buyer better be a real tough person - wouldn’t be easy to evict current tenant

And all the free food and petrol that he used to give !

One has to be extremely thick skin

Wonder how he sleeps at night

Guess 10% down next

Find out who the developer is and call them. They will tell you. They will ask from which law firm etc. Just say some name lah. No one cares. I usually get my girl to call them.

This post has been edited by Thasmita: Jul 23 2019, 07:26 AM

Not necessarily - I have seen many bidders who get emotional and bid at prices higher than market.

Yup can be done

Three ways of dealing with this. One - talk nicely. If that fails then two options - legal and tough. Legal means going to court etc. Tough can be mild tough and tough tough. Mild tough is cut of water and electricity - make a report for unlawful occupation. Photocopy the report and paste all over the area. But some people are thick skin and can miraculously live without electricity and water. Then tough tough - is get some tough guys to visit the place.
I have tried all but legal means and managed to get rid of them.

Do land search for caveat.

For utility bills - give unit address to Syabas or tnb. Just state that you are tenant and the bill is all wet because of rain. Usually they will oblige. They will ask name of landlord - state the name in POS.

Too low also not good

Mate - land search will have details of the caveat including type, name of the person who entered the caveat and his or her interest in the property in which he/she has placed the caveat

He is going to be shafted kaw kaw. Auctioneers fees, valuer and most killing is the lawyers fees. Banks have no mercy - trust me. I bought an auction unit and accidentally got to view the banks solicitors fees- I fell of my chair. Poor borrower left with so little money.

It is high time that the solicitors remuneration order with regards to conveyancing fees is abolished. It should be a free and competitive market. Conveyancing is generally a clerks or technicians job. The fee scale in malaysia is exorbitant. It shouldn’t be tied to the value of the property.

Sad reality

Not sure why original poster doesn’t use agent

You can actually nego to share the agent commission 50/50

I totally agree. HLBB is very difficult to deal with

Not really - just be prepared that’s all.

If it is a landed property - most probably HC Auction. Unless it’s a strata development.

Then it’s 120 days - no compromise.

IMHO - The delta of 10% isn’t enticing.

I usually consider only if the delta is about 20% at least from real actual market value not advertised prices. As a yardstick I’ll take the lowest actually transaction in the past 12 months - as market value +!off course calling up some agents who advertised and see how low I can go.

The guardian of the rakyat is supposed to be the government. I’m sure they can impose a restriction if they want.
They have let the poor people down.

Yes mate. My bad.

Not necessarily poor but the needy.

Very unfair.

I wonder how the guy can be so happy making money by depriving the truly needy.

Depends mate - I saw one land office auction - reauction after bidder default at 10% down

Bro - need details of the transaction to answer why transfer can’t be done. Usually for auction unit state will not withhold consent. At least not in my experience.

Syndicates as I know are there To make money. Mainly to make money. Those days in 1999 - usually they target newbie- look as if many bidder then they Pau bidder some money then walk off from auction.

Nowadays mostly broker to negotiate deal amongst bidders. At the right price all the other bidders will withdraw and you ca get the unit at reserve price or something within a certain threshold - depends on the auctioneer also.