but rpgt rules apply, he try n sell it early sure mati.

Otoh, willing seller rule should apply kua. I don't believe the bank cares if its undervalued. I mean you are securing your smaller loan against a more valuable asset.
In fact if you can remortgage ur existing property to a better raate/term, and get 80k cash, buy out right may be a good idea.

@FerrariST
Can I bid 81k?