Is it possible to sell house in auction style?, Even though you’re servicing the loan
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 Dec 3 2019, 03:50 PM
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#1
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Probation
22 posts Joined: Dec 2019  
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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...
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Dec 4 2019, 04:17 PM
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#2
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Probation
22 posts Joined: Dec 2019
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QUOTE(AskarPerang @ Dec 3 2019, 04:04 PM) Which project? Yeah but may I know what method to repay the balance? Is there any way other than bankruptcy? I am mentally prepared for the worst case but is that possible for me to pay the balance by monthly instalment? I would rather pay than to keep holding the property.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.  |
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Dec 4 2019, 04:45 PM
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#3
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Probation
22 posts Joined: Dec 2019
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QUOTE(mini orchard @ Dec 4 2019, 04:27 PM) Talk to your banker about converting the balance to personal loan and work out a fixed monthly payment you can afford. Thanks so much for the explanation. Btw I am sure the interest rate of the personal loan will be super high then?The bank wont sue for bankruptcy if they can recover the money. Is of no benefit to them if you have no other assets. Prove to them that you can commit to the new repayment term. |
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Dec 4 2019, 11:52 PM
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#4
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Probation
22 posts Joined: Dec 2019
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QUOTE(lirakira @ Dec 4 2019, 09:50 PM) Anyway, which project and what is the rate you are looking for? It's an office lot in Kenwingston Square Garden. |
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