Auction properties
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 Jun 21 2019, 03:43 PM
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#1
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Junior Member
709 posts Joined: Jun 2019 
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QUOTE(BEANCOUNTER @ Jun 21 2019, 12:55 PM) He was player. Wait ... if he was the only bidder and he refuse to take the property, wouldn't it mean that he will lose his deposit?His sole purpose there is to jack up prices, not to bid for property.  |
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Jun 21 2019, 04:02 PM
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#2
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Junior Member
709 posts Joined: Jun 2019
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QUOTE(coolguy99 @ Jun 21 2019, 03:51 PM) I don’t think that is how it works. You can choose to not bid if I am not mistaken. I remember when I went to a bank auction a few years ago they did state in the rules that if you are the only bidder, automatically you will become the winner and you must sign the Proclamation of Sale. Failure to complete after (automatic) winning will mean forfeiture of deposit. This is what I remember, not sure if this rule applies to all auctions or this particular bank made those rules for their auctions. |
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Jun 23 2019, 05:19 PM
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#3
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Junior Member
709 posts Joined: Jun 2019
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QUOTE(BEANCOUNTER @ Jun 22 2019, 12:14 AM) U dun bid lah..... Good to know. Never knew this.Place deposit to secure yr right to bid only |
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