Loan approval can be done within 3 working days.
(I have seen 1 day approval also, but above statement is more realistic)
You need to personally sign the loan offer letter from bank. So 3 weeks away is an unwanted delay.

cc: wild_card_my to provide better insight.

Hi all, I joined my second auction after this event. Won it at reserved price, 4th round auction for the unit. 

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.