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 Auction properties

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coolguy99
post Jan 24 2018, 11:57 PM

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is it true that if you won the auction but failed to get loan your 10% deposit will be forfeited?
coolguy99
post Jun 22 2018, 09:33 PM

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QUOTE(AskarPerang @ Jun 22 2018, 08:45 PM)
Just sharing an interesting finding:

A quick search in lelong for newly completed unit that head straight into auction market.
Can see that majority owner got burnt from newly completed property gang is from the late 80s.

Here few example:
Silk Sky, owner born year 1984:
https://www.ngchanmau.com/pos/4188/pos_en?v=1529650908
» Click to show Spoiler - click again to hide... «

Lakepark Residence, owner born year 1986:
https://www.ngchanmau.com/pos/4095/pos_en?v=1529651050
» Click to show Spoiler - click again to hide... «

BTP 5, Acacia Park, owner born year 1989 & 1991:
https://www.ngchanmau.com/pos/4014/pos_en?v=1529651084
» Click to show Spoiler - click again to hide... «

M Residence 2, owner born year 1986 & 1989:
https://www.ngchanmau.com/pos/3939/pos_en?v=1529650797
» Click to show Spoiler - click again to hide... «

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And govt is mulling to make it easier for rakyat to get housing loan. For me, the criteria of getting a housing loan is pretty fair today. If it is further loosen, this will happen.
coolguy99
post Nov 1 2018, 07:56 PM

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Is there auction unit on KL Traders Square already?
coolguy99
post Dec 17 2018, 09:35 PM

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QUOTE(Adorable @ Dec 17 2018, 09:16 PM)
any good buy auction property can recommend? Thanks
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I think you can follow Selangor Auction Property on fb. He is pretty up to date on his auction postings.
coolguy99
post Feb 16 2019, 06:09 PM

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QUOTE(AskarPerang @ Feb 16 2019, 02:21 PM)
Another interesting case to share today.
Last month Jan auction at 648k, nobody interested.
Price drop to below 600k today, attracted 14 bidders. Haha.
No point guessing the price end up how much.
Plus this is not the only house from that area available in the lelong market, still got other choices.  doh.gif


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Sometimes ego got in the way haha
coolguy99
post Jun 21 2019, 09:41 AM

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QUOTE(Lelong King Jeff Low @ Jun 20 2019, 10:38 PM)
This was happen on last week RHB night auction.

There was a bidder registered for this office lot BUT he refused to win at reserved price when he found out he was the only bidder for this unit.

Obviously, he want to create the unit "UNSOLD" and further drop 10% on next round. Even Tauke from auctioneer also unable to convince.

Please remember, bank are as smart as you, bank won't drop 10% in this case. Why bank will drop 10% when there know got bidder registered at this reserved price? Yes, next round reserved price are maintained same as last round.

You think he still can be single bidder on next round?

user posted image
user posted image
user posted image
user posted image
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Maybe he's having second thought above buying the property.


coolguy99
post Jun 21 2019, 03:51 PM

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QUOTE(gobiomani @ Jun 21 2019, 03:43 PM)
Wait ... if he was the only bidder and he refuse to take the property, wouldn't it mean that he will lose his deposit?
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I don’t think that is how it works. You can choose to not bid if I am not mistaken.
coolguy99
post Jun 30 2019, 10:40 PM

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QUOTE(heavensea @ Jun 29 2019, 10:54 PM)
Cyberjaya can do airbnb?
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I think the demand for short term rental in cyberjaya is pretty low. Usually it is more towards long term rental for working class who work in cyberjaya.
coolguy99
post Jun 30 2019, 10:43 PM

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QUOTE(heavensea @ Jun 30 2019, 10:41 PM)
I thought it's a quote ghost town.
No offense to any party though
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Yeah it is pretty much a ghost town. I work in cyberjaya so I can relate a bit.

Even during weekdays dpulze is pretty dead, can't imagine during weekends.
coolguy99
post Jun 30 2019, 10:51 PM

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QUOTE(heavensea @ Jun 30 2019, 10:47 PM)
Can't imagine who invested in cj property..
Especially guided by their beloved property guru
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I think few years back cyberjaya was booming with potential as many IT companies set up their companies there due to low rental (MSC status).

But the progress has been stagnant since as it is mainly infested with IT offshore companies.

Shopping malls is few and far between there. Eateries can barely survive and they mainly rely on work crowd during weekdays.
coolguy99
post Jul 16 2019, 08:30 AM

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QUOTE(Lelong King Jeff Low @ Jul 15 2019, 11:12 PM)
NO BIDDER...
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Haha serves the guy right. Hope it drops a couple times more and someone manages to grab it on the cheap.
coolguy99
post Aug 5 2019, 09:19 AM

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QUOTE(BillCollector @ Aug 4 2019, 04:12 PM)
Owner of 5 landed houses that I bought through auctions over the last 10 years.
All of them were below market value and for a reason. Some had been through several rounds at auction.
Some pros and cons as well as tips :-
+You can get a house below market value and sometimes you do strike gold.
+You never know what you get inside. It isn't always as empty as you would think it is.
-You cannot check out the interior. If you own a drone you could use it to take a look from the windows which might give you some clues.
-You have to move very quickly.
-You do need to do your ground and home work thoroughly and know what you are getting yourself into and who assumes what, this is especially so with unpaid taxes, utility arrears and strata maintenance fees.
-Have to check for caveats.
-Is the owner still living in there? If he is expect trouble.
*If you are using leverage and will need rental to cover the mortgage or require a quick turnaround time you better not buy at real estate auctions and you might want to consider if your stamina can last up to a year with no income.
*Do you think you are smart? Many are smarter than you. Check out why it hasn't sold in previous rounds.
*Visit the premise more than 1 time and especially at nites.
*Plenty of frauds going on lately as the whole industry is beset with syndicates and crooks.
You can read about my experiences in the spoilers if it is off interest to you.
House 1
» Click to show Spoiler - click again to hide... «

House 2
» Click to show Spoiler - click again to hide... «

House 3
» Click to show Spoiler - click again to hide... «

House 4
» Click to show Spoiler - click again to hide... «

House 5
» Click to show Spoiler - click again to hide... «

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Wow a very good read indeed. Thanks for sharing your experience here!
coolguy99
post Nov 12 2019, 11:11 PM

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QUOTE(AskarPerang @ Nov 12 2019, 04:39 PM)
A bigger size lelong unit sold few months ago.
971sqft sold at 576k. Single bidder win.

user posted image

Opening of the unit (airbnb / homestay condition). Hit jackpot. Lucky new owner.


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In awe of the unit, it's like hitting jackpot...
coolguy99
post Aug 17 2020, 05:16 PM

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QUOTE(cy91 @ Aug 17 2020, 03:06 PM)
Stupid lift design, leasehold and pure commercial title
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Its like a maze in there.
coolguy99
post Sep 3 2021, 05:27 PM

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QUOTE(OrdernPay @ Sep 3 2021, 04:41 PM)
today my fb spam with all these ad

WHAT THE F---?!!  Arte Mont Kiara..
Bid from RM 640k to RM 1.14 mil…
All agent know what is happening, we looking forward for the unit to re-auction again in future…

what does it means by "All agent know what is happening" ??
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Maybe developer bid to push up the market price?

 

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