Here's what I do before I bid;

1. Google around for auction properties.
2. Get the Proclamation of Sale. Read terms esp on who pays the outstanding maintenance fees, quit rent, assessment fees etc.
3. Site visit. Estimate for repairs. If owner stays at the property, cancel and go back to step 1. Get a copy of utility bills for checking.
4. Do title search at land office. Can skip this if master title. If got private caveat by individual then go back to step 1.
5. Go for bidding with a set budget (always below bank valuation).
6. Win - sign contract; lose - return to step 1.

Good sharing to all regarding bank lelong property. Must always check, double check and triple check.

Hidden Charges (Pindah Milik)
=============
Utk kes lelong.. Ia antara sbb kenapa bakal pembeli keberatan nak mencuba auction ialah takut akan risiko unforseen entry cost..
Tidak semua kes lelongan ada hidden charges..Kebarangkaliannya ialah pd kes-kes dibawah:
1. Unit Baru VP or Virgin Unit
- hidden charges berkaitan ialah outstanding progress payment (1%/ 2.5% dr harga terdahulu)
2. Developer Bankrupt
-hidden charges yg berkaitan ialah:
❗a. outstanding progress payment
❗b. liquidator admistration fees
❗c. GST charges keatas item #a
❗d. Misc payment
❗e. Vetting Fee
❗f. Jika ada lbh dr 1 pemegang gadaian. Utk discharges item a to e kena byr lg..
3. Kaveat
- hidden charges ialah fee2 berkaitan pembatalan kaveat termasuk court order
4. Dll
Kwe bagi contoh kes yg pernah kwe handle.. case study
+++ Cth 1+++
Dev Bankrupt..Liquidator yg uruskan.. Pemegang gadaian ada 2 iaitu bank RH+ dan Malaysia Trust++.. Harga belian terdahulu Rm251K
-charge M"sia Trust++ Rm6+++
-charge Liquidator Rm5+++
+++ Cth +++
Unit Virgin.. VP 4 thn lepas.. Dev PK++. Harga belian terdahulu RM215K
-payment o/s progress 2.5%
Macam seram ja kan.. Buat lah carian dan semakan sebelum decide membida.. Jika nilai belian below market dan sangat berbaloi.. WHY not take the risk? Huhu

Lol get this kind of unit i also will scared. Think logically why would owner want to leave behind so many things and maybe hastily without taking all their things?    #somethingToPonderAbout
#nothingComesFree

Yes exactly what i am talking about.. sometimes things too good to be true is indeed too good to be true