Welcome Guest ( Log In | Register )

Outline · [ Standard ] · Linear+

 Auction properties

views
     
drbone
post Jul 29 2019, 05:10 AM

Regular
******
Senior Member
1,757 posts

Joined: May 2011
Looking for fennel
drbone
post Aug 7 2019, 06:28 PM

Regular
******
Senior Member
1,757 posts

Joined: May 2011
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... «

*
Bro this is off topic but what do you think about land purchases? Am looking into plantation land mainly for capital appreciation and wealth preservation.

drbone
post Aug 21 2019, 07:35 PM

Regular
******
Senior Member
1,757 posts

Joined: May 2011
QUOTE(Thasmita @ Aug 19 2019, 10:19 PM)
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.
*
How will this help to find out who has issued a caveat? The owner is not the caveat.
drbone
post Nov 12 2019, 05:13 PM

Regular
******
Senior Member
1,757 posts

Joined: May 2011
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.


*
Not bad !
drbone
post Dec 8 2019, 10:44 PM

Regular
******
Senior Member
1,757 posts

Joined: May 2011
What is the best website for e-lelong? Anyone can share where to get more info on choosing lelong properties online, so that the visits to the auction events can be minimised?

 

Change to:
| Lo-Fi Version
0.0197sec    0.52    7 queries    GZIP Disabled
Time is now: 9th December 2025 - 09:04 PM