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 Buying LELONG property, Advice needed

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AskarPerang
post Apr 22 2019, 01:27 AM

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QUOTE(farhanz95play @ Apr 21 2019, 06:31 PM)
Hi, new here, how do i know the date the property start become individual title or first VP, for example at Saujana Damsansara property developed by Maxisegar Sdn Bhd, auctioned month ago, it is leasehold 99 years, so how do i know what remaining years left since it havehave been individual titled,

just want to ready information about this property,
thank you.
*
Info can be found inside the POS. Whether is still master title or strata / individual title already issued. Remaining years of the leasehold also will be stated inside the POS.
Can do a title search at the land office to be more confirm.

Suajana Damansara apartment? At Damansara Damai? I think this is by MK Land.
A google search on "Maxisegar" show up link with the famous Talam developer.


wow1wow2
post Apr 22 2019, 03:23 PM

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better think x10 times and make sure u know your shit before enter into auction or else better stick to freehold + with title property.

personally handled alot of loans not able to disburse, pos cancel, deposit forfeit
SUSShopper's
post Apr 22 2019, 03:36 PM

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I remember last time before auction, auctioneer must publish POS in newspapers and distribute copies to neighborhood.
10+ years ago they begin published in their official websites, post up complete POS. Slowly website info became formal and legit, no more advertise in newspapers.

Nowadays very hard to see legit POS in newspapers and websites. For website they put half details, you need to request and give them your particulars like name, ic, phone, email etc still can't get full details ( usually the house number) then they will ask you sign up premium membership only can see real POS. Banks do the same. Sometimes need to deal with third party like agent for POS.

Is it legal by law for auctioneer not to publish full POS openly?
PeinEVO
post Jul 30 2019, 05:55 PM

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Eh if lets say i found house with "bank lelong" at the front gate .. how do we know which bank is doing the lelong and whether its still available?
froz3nnoob
post Aug 1 2019, 01:13 PM

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QUOTE(AskarPerang @ Apr 22 2019, 02:27 AM)
Info can be found inside the POS. Whether is still master title or strata / individual title already issued. Remaining years of the leasehold also will be stated inside the POS.
Can do a title search at the land office to be more confirm.

Suajana Damansara apartment? At Damansara Damai? I think this is by MK Land.
A google search on "Maxisegar" show up link with the famous Talam developer.
*
What is POS ya? sorry newbie here biggrin.gif

QUOTE(Shopper's @ Apr 22 2019, 04:36 PM)
I remember last time before auction, auctioneer must publish POS in newspapers and distribute copies to neighborhood.
10+ years ago they begin published in their official websites, post up complete POS. Slowly website info became formal and legit, no more advertise in newspapers.

Nowadays very hard to see legit POS in newspapers and websites. For website they put half details, you need to request and give them your particulars like name, ic, phone, email etc still can't get full details ( usually the house number) then they will ask you sign up premium membership only can see real POS. Banks do the same. Sometimes need to deal with third party like agent for POS.

Is it legal by law for auctioneer not to publish full POS openly?
*
website for lelong unit? any website recommend? I do see a few lelong unit on chinese newspaper hmm.gif hmm.gif hmm.gif

bristlebb
post Aug 1 2019, 03:36 PM

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QUOTE(LimauKering @ Mar 1 2019, 11:09 AM)
my friend bought one last time, before buy cannot go in and see. after get the key, open main door smells something funny. then realize the previous owner's dead body is in the fridge. it is a police case where the previous owner was murdered and hidden inside the fridge. you dare to live or not.
*
Good luck to your friend
SUSBillCollector
post Aug 3 2019, 12:19 AM

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QUOTE(froz3nnoob @ Aug 1 2019, 01:13 PM)
What is POS ya? sorry newbie here biggrin.gif
website for lelong unit? any website recommend? I do see a few lelong unit on chinese newspaper  hmm.gif  hmm.gif  hmm.gif
*
Piece of Shit???

It is actually Proclamation of Sale.
froz3nnoob
post Aug 3 2019, 07:48 PM

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QUOTE(BillCollector @ Aug 3 2019, 01:19 AM)
Piece of Shit???

It is actually Proclamation of Sale.
*
ohhhhhhh
SUSRyuGW90
post Aug 4 2019, 12:03 AM

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Interesting
AskarPerang
post Aug 4 2019, 01:17 AM

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QUOTE(froz3nnoob @ Aug 1 2019, 01:13 PM)
website for lelong unit? any website recommend? I do see a few lelong unit on chinese newspaper  hmm.gif  hmm.gif  hmm.gif
*
Example auctioneers official website:
https://www.ngchanmau.com/
http://auctions.com.my/
https://leongauctioneer.com/
http://www.ehsanauctioneers.com/
http://www.jtraj.com/
http://www.rajanauctioneers.com/
https://arenaauctioneers.com/

But best is just search at: https://www.lelongtips.com.my/
MGM
post Aug 4 2019, 04:44 AM

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QUOTE(AskarPerang @ Aug 4 2019, 01:17 AM)
Thank you very much.
JonSpark
post Aug 4 2019, 03:16 PM

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QUOTE(WebDpot @ Jun 4 2018, 06:07 PM)
Pros
- you buy at below market price, that's all

Cons
- you don't know the house condition, damages
- owner might won't move out
- owner might holding a grudge against you (happened to me)
*
What happened?
SUSBillCollector
post Aug 4 2019, 04:17 PM

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Owner of 5 landed houses that I bought through auctions over the last 10 years.


All of them were below market value and for a reason. Some had been through several rounds at auction.


Some pros and cons as well as tips :-


+You can get a house below market value and sometimes you do strike gold.
+You never know what you get inside. It isn't always as empty as you would think it is.


-You cannot check out the interior. If you own a drone you could use it to take a look from the windows which might give you some clues.
-You have to move very quickly.
-You do need to do your ground and home work thoroughly and know what you are getting yourself into and who assumes what, this is especially so with unpaid taxes, utility arrears and strata maintenance fees.
-Have to check for caveats.
-Is the owner still living in there? If he is expect trouble.


*If you are using leverage and will need rental to cover the mortgage or require a quick turnaround time you better not buy at real estate auctions and you might want to consider if your stamina can last up to a year with no income.
*Do you think you are smart? Many are smarter than you. Check out why it hasn't sold in previous rounds.
*Visit the premise more than 1 time and especially at nites.
*Plenty of frauds going on lately as the whole industry is beset with syndicates and crooks.


You can read about my experiences in the spoilers if it is off interest to you.


House 1
» Click to show Spoiler - click again to hide... «



House 2


» Click to show Spoiler - click again to hide... «



House 3


» Click to show Spoiler - click again to hide... «



House 4


» Click to show Spoiler - click again to hide... «



House 5


» Click to show Spoiler - click again to hide... «

yunodie
post Aug 4 2019, 04:42 PM

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QUOTE(BillCollector @ Aug 4 2019, 04:17 PM)
Owner of 5 landed houses that I bought through auctions over the last 10 years.
All of them were below market value and for a reason. Some had been through several rounds at auction.
Some pros and cons as well as tips :-
+You can get a house below market value and sometimes you do strike gold.
+You never know what you get inside. It isn't always as empty as you would think it is.
-You cannot check out the interior. If you own a drone you could use it to take a look from the windows which might give you some clues.
-You have to move very quickly.
-You do need to do your ground and home work thoroughly and know what you are getting yourself into and who assumes what, this is especially so with unpaid taxes, utility arrears and strata maintenance fees.
-Have to check for caveats.
-Is the owner still living in there? If he is expect trouble.
*If you are using leverage and will need rental to cover the mortgage or require a quick turnaround time you better not buy at real estate auctions and you might want to consider if your stamina can last up to a year with no income.
*Do you think you are smart? Many are smarter than you. Check out why it hasn't sold in previous rounds.
*Visit the premise more than 1 time and especially at nites.
*Plenty of frauds going on lately as the whole industry is beset with syndicates and crooks.
You can read about my experiences in the spoilers if it is off interest to you.
House 1
» Click to show Spoiler - click again to hide... «

House 2
» Click to show Spoiler - click again to hide... «

House 3
» Click to show Spoiler - click again to hide... «

House 4
» Click to show Spoiler - click again to hide... «

House 5
» Click to show Spoiler - click again to hide... «

*
stuff of legends. thanks for sharing. can write a book out of this.
WebDpot
post Aug 4 2019, 04:49 PM

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QUOTE(JonSpark @ Aug 4 2019, 03:16 PM)
What happened?
*
The house is empty, I move in after acquire the grant, but the owner came and start creating scene, spit and throw rubbish, we go lepak mamak, belanja him makan, turn out he in deep financial situation, I gave him rm500 and I didn't see him around anymore. That is a few years ago and now house got cctv.
SUSBillCollector
post Aug 5 2019, 12:51 AM

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QUOTE(yunodie @ Aug 4 2019, 04:42 PM)
stuff of legends. thanks for sharing. can write a book out of this.
*
A long way to writing books and hardly a legend.

There are people in the market that have purchased many times more than me on this and gain far more returns than I do.

They do keep it quiet though as often auctioned properties do tend to carry a certain stigma in them and would be shunned by superstitious buyers.
YoungMan
post Aug 5 2019, 08:25 AM

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QUOTE(yunodie @ Aug 4 2019, 05:42 PM)
stuff of legends. thanks for sharing. can write a book out of this.
*
Great sharing indeed. But I can say only if you are tuff and strong enough to endure all this challenge can you success in this market. Bro you are 1 of them. notworthy.gif notworthy.gif
PulseAngel
post Aug 6 2019, 09:08 AM

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QUOTE(BillCollector @ Aug 4 2019, 04:17 PM)
Owner of 5 landed houses that I bought through auctions over the last 10 years.
All of them were below market value and for a reason. Some had been through several rounds at auction.
Some pros and cons as well as tips :-
+You can get a house below market value and sometimes you do strike gold.
+You never know what you get inside. It isn't always as empty as you would think it is.
-You cannot check out the interior. If you own a drone you could use it to take a look from the windows which might give you some clues.
-You have to move very quickly.
-You do need to do your ground and home work thoroughly and know what you are getting yourself into and who assumes what, this is especially so with unpaid taxes, utility arrears and strata maintenance fees.
-Have to check for caveats.
-Is the owner still living in there? If he is expect trouble.
*If you are using leverage and will need rental to cover the mortgage or require a quick turnaround time you better not buy at real estate auctions and you might want to consider if your stamina can last up to a year with no income.
*Do you think you are smart? Many are smarter than you. Check out why it hasn't sold in previous rounds.
*Visit the premise more than 1 time and especially at nites.
*Plenty of frauds going on lately as the whole industry is beset with syndicates and crooks.
You can read about my experiences in the spoilers if it is off interest to you.
House 1
» Click to show Spoiler - click again to hide... «

House 2
» Click to show Spoiler - click again to hide... «

House 3
» Click to show Spoiler - click again to hide... «

House 4
» Click to show Spoiler - click again to hide... «

House 5
» Click to show Spoiler - click again to hide... «

*
u are a legend notworthy.gif notworthy.gif
kbhai
post Aug 6 2019, 02:55 PM

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QUOTE(BillCollector @ Aug 4 2019, 04:17 PM)
Owner of 5 landed houses that I bought through auctions over the last 10 years.
All of them were below market value and for a reason. Some had been through several rounds at auction.
Some pros and cons as well as tips :-
+You can get a house below market value and sometimes you do strike gold.
+You never know what you get inside. It isn't always as empty as you would think it is.
-You cannot check out the interior. If you own a drone you could use it to take a look from the windows which might give you some clues.
-You have to move very quickly.
-You do need to do your ground and home work thoroughly and know what you are getting yourself into and who assumes what, this is especially so with unpaid taxes, utility arrears and strata maintenance fees.
-Have to check for caveats.
-Is the owner still living in there? If he is expect trouble.
*If you are using leverage and will need rental to cover the mortgage or require a quick turnaround time you better not buy at real estate auctions and you might want to consider if your stamina can last up to a year with no income.
*Do you think you are smart? Many are smarter than you. Check out why it hasn't sold in previous rounds.
*Visit the premise more than 1 time and especially at nites.
*Plenty of frauds going on lately as the whole industry is beset with syndicates and crooks.
You can read about my experiences in the spoilers if it is off interest to you.
House 1
» Click to show Spoiler - click again to hide... «

House 2
» Click to show Spoiler - click again to hide... «

House 3
» Click to show Spoiler - click again to hide... «

House 4
» Click to show Spoiler - click again to hide... «

House 5
» Click to show Spoiler - click again to hide... «

*
Wow, this is interesting!!!.. An eye opener & really need deep pockets 2 play in lelong house gamez. TQVM 4 info sharing.. salute!!
NMB
post Aug 22 2019, 11:42 PM

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QUOTE(BillCollector @ Aug 4 2019, 04:17 PM)
Owner of 5 landed houses that I bought through auctions over the last 10 years.
All of them were below market value and for a reason. Some had been through several rounds at auction.
Some pros and cons as well as tips :-
+You can get a house below market value and sometimes you do strike gold.
+You never know what you get inside. It isn't always as empty as you would think it is.
-You cannot check out the interior. If you own a drone you could use it to take a look from the windows which might give you some clues.
-You have to move very quickly.
-You do need to do your ground and home work thoroughly and know what you are getting yourself into and who assumes what, this is especially so with unpaid taxes, utility arrears and strata maintenance fees.
-Have to check for caveats.
-Is the owner still living in there? If he is expect trouble.
*If you are using leverage and will need rental to cover the mortgage or require a quick turnaround time you better not buy at real estate auctions and you might want to consider if your stamina can last up to a year with no income.
*Do you think you are smart? Many are smarter than you. Check out why it hasn't sold in previous rounds.
*Visit the premise more than 1 time and especially at nites.
*Plenty of frauds going on lately as the whole industry is beset with syndicates and crooks.
You can read about my experiences in the spoilers if it is off interest to you.
House 1
» Click to show Spoiler - click again to hide... «

House 2
» Click to show Spoiler - click again to hide... «

House 3
» Click to show Spoiler - click again to hide... «

House 4
» Click to show Spoiler - click again to hide... «

House 5
» Click to show Spoiler - click again to hide... «

*
[B]

this is by far the best n most interesting post i have read about auction property. Respect your guts, its definitely not for the faint hearted...thanks for sharing.

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