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silverong
post May 13 2024, 11:58 PM

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344 posts

Joined: Mar 2010


QUOTE(AtMostFear @ May 13 2024, 11:41 PM)
Hi all, planning to join LACA auction next week. It's for a serviced apartment where I'm currently renting, but different unit. Please let me know if I've missed any steps.

1. Surveyed the house. Nobody staying there. Checked with the janitors, so far nothing unusual about previous owner.
2. Land search done. No caveat on the house. (Tanggungan dan endosan-endosan lain - Tiada)
3. Bumi lot. Leasehold. Strata title already issued. Called the developer, they agreed to do direct transfer with admin fee.
4. POS from auction house checked. Only maintenance fee can claim from bank (it's Ambank by the way), others I need to pay myself. Already checked all outstanding amounts (cukai tanah, pintu, etc.), so far I can cover it.
5. Pre-loan approval with 2 banks (PBB & RHB) got positive feedback. interest ~3.9%

Next step:
1. Get bank draft 10% value of reserve price. any additional amount (if bid price increase) to just transfer online later.
2. Just noticed the auction house organizing this also doing the bid online. Shall I go in person or just join online? scared if go in person become nervous or someone kacau, but if go online what if something goes wrong with internet/computer/etc. during auction  doh.gif

any other tips appreciated, thanks
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most easy get an auction real estate agent to help?

silverong
post May 14 2024, 09:15 AM

Casual
***
Junior Member
344 posts

Joined: Mar 2010


QUOTE(IAmYourFather @ May 14 2024, 08:17 AM)
why not engage with auction agents? They normally don't charge as commission is from bank. However, be aware as I've met so many people saying their agents pushed them to over bid
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quite a lot agents do that, just remember to set your limit, dont get sweet talk

 

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