Can u elaborate on the double transfer? What are the procedures and extra cost/hassles involved.

Tqvm, keep up the effort.

For understanding,
First owner = Owner that default paying the bank and property kena lelong
Second owner = Buyer who win the lelong unit

Double transfer happen when:
- Individual strata title issued but the first owner did not settle the strata transfer process.
- Second owner won the lelong unit.
- Depending on developer. Some developer allow direct transfer. Then is good. If not allow, then:
- Need to settle the transfer from developer to first owner first. Lawyer and stamp duty need to pay by the buyer (second owner).
- After that another name transfer from first owner to second owner. Another time payment of lawyer and stamp duty fees.
- Plus consent from authority if for leasehold property will take 3 to 6 months time per transfer. So double transfer may take up to 1 year long duration. So need to ask for extension. If kena penalty by the auction bank, will end up paying (up to 10% pa) late payment interest until the process settle.

So conclusion, it is still better to just buy a property that is still under master title as long as it is still faily new. Less than 5 years completed.
To avoid the headache as above.

But master title is harder to get loan approved by bank though?

For property age less than 10 years, still can get bank loan.
If more than 10 years, then only selected bank will give bank loan such as Public Bank and Ambank. So your choice bank selection will reduce.

Good thread. Parking to follow

nice thread!. TS im looking for landed property in oug/kuchai area. Any auction units here? preferable semi d

Penang coming auction buy 1 free 1. 1900sf RM 335.8k

The name of the property is krystal suites .

wow! wow!

Park park.Thanks TS.
Question: Normally how do u turn to profit on these auction props? By flip or rental?
How long does it normally take to resell once you win providing that can get quick buyer?

I'm only have 1 house atm, bought undercon. Thinking to join auction prop as investment.

If a property got good demand, easy to rent or sell, prime mature area, then even in the auction market also will not end up cheaply.
Most likely at 10% below subsale pricing only. So your profit will be less as well.

Is best to aim at non-prime local area you are familiar such as for example Rawang, Puncak Alam, etc.
Then you will face less competition and can get lelong units at maybe more than 30% below subsale pricing.
And since you know the market there, you will know how much able to rent out or flip the unit.

Another choice is to aim at places that gonna have new development coming in. Such as MRT2 stations, or new shopping mall, etc.
Then you grab a unit there first at cheap lelong pricing and wait for the development to complete. Current rental and sale price maybe at a low, so need to hold until the area boost up. However, this will require a lot of analysis and research.

Good luck.

https://forum.lowyat.net/topic/2494173/all

follow..waiting ridgefield th kajang townhouse..hehe

parking

Parking.

park

interesting thread. park first.

thanks so much bro, very helpful

Seems like the place has been turned into a carpark. I thought only can simply park at kopitiam. But still I salute to AskarPerang for this good work.

Good day sifu and bosses

I have an aim at one of the auction unit but it is still first auction. Should I wait for 2nd auction? The current price is already 20k lower than what people are selling

Rental is higher than monthly loan payment.

What is the market asking price now?

How much is outstanding for maintainance and others?

Occupied or vacant now?

RM20k difference cannot view property and or if occupied is too low.

Looking at the unit at nilai. But bro @askarperang told me already aborted. So need to hunt others