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 Auction vs Subsales, what is the cautions need to take!"?

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icemanfx
post May 14 2020, 07:21 PM

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QUOTE(LarryPizzaGuy @ May 14 2020, 03:56 PM)
If buy from Auction, you're buying the house As-Is.
You will own any problems, repair bills that belongs to the house.
Worst case when you open the doors and found out the house got body (crime scene) or got druggies/unwanted tenants. They will become your problem.
No one will know what's good/wrong with an Auction house; that's why its a gamble.
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Typical scare tactics by r.e agent.

This post has been edited by icemanfx: May 14 2020, 07:21 PM
icemanfx
post May 14 2020, 07:49 PM

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QUOTE(LarryPizzaGuy @ May 14 2020, 07:42 PM)
I beg to differ.

I'm no real estate agent, but at least I keep myself updated with the latest news and delve into property from time-to-time.

https://www.thesundaily.my/local/crimes-tha...urder-FM1952447
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How often in one year?

This post has been edited by icemanfx: May 14 2020, 07:55 PM
icemanfx
post May 14 2020, 10:56 PM

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QUOTE(al_madd @ May 14 2020, 10:47 PM)
auction is okay..

however please do site visit and make sure buying price always 30% below market...

if the same price with subsale..better go for subsale
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+1
icemanfx
post May 15 2020, 12:19 AM

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QUOTE(amphard @ May 14 2020, 11:16 PM)
typical stereotype by ignorant

TS, to add on to all the cons that larry pointed out:
1. they are legally obligated to inform you about the address of the property. go do a site visit if its landed house. ask the neighbours about the property
for condo, abit more difficult to see the unit, but u can check with mgmt office for outstanding maintenance and utility bills and previous occupants
2. 99% of the time u wont find gold nor deadbody, but repair bills can be hefty since you dont know the inside condition of the unit [it could be pristine condition, it could be trashed by previous occupant [like cluster kayangan quarantine center]
3. depending on location and property, the hammer price could exceed market value. hence, always check for bank/fair market valuation first, and know ur max limit you are willing to pay for the property. know ur limits. stop when it exceed. do not bid with emotion [if u are bidding for investment]
4. prepare a contingency amount for repairs [refer #2] if u manage to bid without ur required budget

as for subsale:
nothing much at risk unless the unit has defect that owner failed to inform, or didnt know of such defect
you get to see the unit in entirety, and ask as many questions as you want
you can bring your wife mother father auntie uncle pet cat mistress to view the property as many time as u want before u decide on buy.
u sometimes, also can check for loan eligibility before u decide to pay deposit [auction is only ONE DAY, and its harder to check your loan qualification this way]
and if u pandai nego, you can get ur deposit refunded if ur loan fails. auction cannot [though u have 120 days to settle full amount, instead of 90 days for subsale]

PM me if u have further questions

p/s: yes i'm a real estate agent. and yes i've been to auctions
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Again typical real estate agent scare tactics. auction is not for novice, many of those in auction are regular or in the trade, know what they get in to and prepared, and made $$$ from flipping auction units. Only novice and impulsive buyer would bid above valuation price.

Thanks to loan compression, virgin units on auction is rising. Need of repair on virgin unit is minimum.

This post has been edited by icemanfx: May 15 2020, 12:41 AM
icemanfx
post May 16 2020, 08:42 PM

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QUOTE(pendekartauhu @ May 16 2020, 07:29 PM)
He is just purely seasoned posts accumulator. Posting everywhere with his imaginary facts.
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The fact remains property trends in the last few years was more inclined to my opinion than yours. Wonder who is living in the imaginary world.

This post has been edited by icemanfx: May 16 2020, 08:42 PM
icemanfx
post May 16 2020, 09:08 PM

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QUOTE(amphard @ May 16 2020, 07:25 PM)
rofl...stating the fact = scare tactic...
you must be a pro seasoned realtor investor with billions of ringgit worth of property, bro
rclxms.gif  rclxms.gif
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Real estate is illiquid and there are better investment opportunities elsewhere.

Buy when blood is knee deep on the floor.

This post has been edited by icemanfx: May 16 2020, 09:08 PM

 

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