Welcome Guest ( Log In | Register )

Outline · [ Standard ] · Linear+

Others Recommended listing of property auction / lelong!, all info you need to know inside......

views
     
lotter92
post Jan 4 2019, 03:51 PM

Getting Started
**
Junior Member
108 posts

Joined: Oct 2018
Nice thread. Can I request listing around Sri Permaisuri / Bandar Tun Razak / Pandan?
lotter92
post Jan 25 2019, 10:10 AM

Getting Started
**
Junior Member
108 posts

Joined: Oct 2018
QUOTE(AskarPerang @ Jan 24 2019, 07:12 PM)
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?

 

Change to:
| Lo-Fi Version
0.0136sec    0.68    7 queries    GZIP Disabled
Time is now: 12th December 2025 - 12:21 AM