What if it is owner's voluntary auction? Will they do the same?

I am exploring this avenue to dispose off one of my properties (low medium apartment with a market value of not more than RM250k) which have been passed it to real estate agent for more than a year but still can't find buyer.

Of course they would.. They will get the 2-3% agent fees, the same way subsales agent do.

Noted with thanks.

Low medium cost unit got the same criteria as low cost unit for potential buyer wanting to buy. Criteria is according to state. But generally must be first home buyer and income not exceed xxx, and etc other criteria.

Therefore i dont think can sell via owner volunteer auction.
Need to let go under real bank auction. Meaning you stop making loan repayment and allow bank to auction the unit. That way, then anyone can buy. Coz no need to meet all the criteria required by the state.

This post has been edited by AskarPerang: May 9 2019, 09:32 AM

im actually trying to dispose a property which i've just gotten the VP 3 months ago..but the rental returns are so bad and i dont think i have the holding power, so the best option would just to cut loss by disposing this.

High rise unit?
At which area? Cyberjaya?

yup condo in Bkt Jelutong.

3 months cannot tahan already? Why did u buy? Ah yo ...

so fast give up?

well.technically, im not losing..yet...have another 4 months to burn from the cash back. .it's a sime darby prop but didnt gain much traction as i've expected... so have started the ground works to dispose it.. i will admit that i may have made a wrong decision in this one

well..i wouldnt say it's giving up...but being financially smart instead....

Hi. I have an unit in cyberjaya too. No tenancy, high instalment each month, my pocket is bleeding... Planning to dispose it too... But all the agent kept telling it's hard to find buyers. Can anyone give me any advice? I need to go to auctioning it off I guess...

Which project?
Yes, majority project at Cyberjaya can be found in the lelong market. But if sale in auction definitely way below your loan amount. So you will have to think how to recover this loss.

Yes you can conduct owner auction by approaching license auctioneer but again they will evaluate if make sense to conduct it based on market price and demand, alternatively Maybank2own could be a viable platform for RTO.

Good luck

Owner auction is not popular in malaysia unless your property is one of the kind mansion.

If you let bank auction it off, banks will onky take care of their interest, and wont be hesitate to receive any offer bcos the shortfall will be bear by you or your future.

I would say lets start the first step

1. List your property at least 30% off market price.
2. Treat your agent as friend....offer them 3% or more commission. Appoint as many agents that you can. l

All the best.

A poorperly investment.

Banks dont involved in private auction.

Close tender is another option.

This post has been edited by mini orchard: Dec 4 2019, 06:02 AM

the highlighted part is for????????

I didn't say private auction or owners auction involving bank, did I?

I am reading this topic as private auction. Maybe we have different understanding.

For private vendor to sell quickly, unless reserve price is substantial cheaper than m.v., is unlikely to attract bidders. However, Dutch auction could almost certain be sold.

This post has been edited by icemanfx: Dec 4 2019, 02:38 PM