Dear all Sifus in Auction cases,

I would like to seek assistance / expert advice on below case:-


Background of the case:
I successfully bid for a property from Ambank Islamic Bank (Assignee bank) in early Oct 2019. The developer had insisted for double transfer of title where title to be transferred into Assignor / Defaulter (a foreigner) prior to it being transferred to me. In fact, developer had twice requested Ambank to exercise their rights under Power of Attorney to execute Memorandum of Transfer and Charge on behalf of Defaulter before the auction of the Property but Ambank didn’t take any action and yet proceed to have the property auctioned and I, being the successful bidder is now required perform double transfer of title after Developer rejected my request for direct transfer.

My query:
1. Does anyone has experience for double title transfer involving defaulter who is a foreigner for a condo of which its strata title had been issued? Could anyone kindly advise on the expected timeline required? It had been 9months since i bid for the property and yet still till to date both Ambank and the developer have yet to furnish documents to request for 1st transfer of title as per required by Land Office. My lawyer had been following up with Ambank lawyer, Ambank & Developer but yet the action by each party is very slow.
2. In view of the complexity of this case which involves double transfer of titles, high expenses (estimated RM30k for 1st transfer, settlement of maintenance & assessment arrears, payment of RM70k for downpayment) I have incurred, bad economic situation amid Covid 19, documentation delay which is not due to my fault, I have requested Ambank to waive interest for extension period from 7/1/20 till 31/8/20 but Ambank had rejected all my requests for interest waiver and interest waiver only granted for MCO period 18/3/20 till 12/5/20. This is very unfair for me as I have to be liable for delays beyond my control. Any advice for me in order to obtain interest waiver? Are there any avenue that i can lodge a complaint?
3. I was told one possible option is that i make cash settlement for the property (costs more than RM600k) in order to save the penalty charged by Ambank. Is this the only option? Even with cash settlement, my concern is how long more that this case will take to complete the double title transfer?

Thanks in advance.

This post has been edited by chiaumeigan: Jul 5 2020, 09:29 PM

How much is the market value of similar property now and bank interest ?

If I am the bank, why should bank pay mot for a defaulter borrow and is also not the responsibility of the bank as the chargee. They only want recover the outstanding. Not even sure the 600k can cover the debt and have to pay 30k more.

Sorry to say, but this case is a reference for those new wannabe auction bidders.

This post has been edited by mini orchard: Jul 5 2020, 10:12 PM

If bank dont want to entertain, i afraid the only way is to make full cash settlement.. normally double transfer properties,only cash buyer will buy. You did not check on that prior to bid?

Is this a high court auction, land office auction or private auction?

Next, your lawyer is rather incompetent.

Cannot be high court or land office auction.
This case is title issued but perfection not done. considered as LACA case.

Mere statement is not helping.

Share with TS what your lawyer could have done ?

This sounds like the right advice. Now kantoi cos didn't check double transfer requirements.

You should have checked with your lelong agent (if any) on the title status - they would have cautioned you in advance in regards to the double transfer issue.

For now, I would say that the bank had been generous enough in allowing you to extend beyond the usual 90/120 days settlement period - so your only option for now is to do a cash settlement else incur more penalty and/or eventually your unit end up being re-auctioned and you loose your deposit.

Not only losing your 10% deposit but potentially the differential between your auction and new auction price shall re-auction happen

Wont be surpised bank will net another water fish with a reauction.

Either you cash the property now or you walk away from the deal & forfeit the deposit. The interest amount on your purchase is probably quite high already and soon to be almost the same amount as your deposit.

Auction is not for the weak. To be honest, the Developer or the Bank has no obligation to act hurriedly for you. If they act hurriedly it is out of goodwill. By right if double transfer, you have been ready to pay the property in cash in the first place by the time 90 days have arrived

Bro Banks in Malaysia have absolutely no conscience. You should complain to bank Negara. I’m well aware that caveat emptor applies - buyer beware. But come on lah- banks make billions of ringgit in profits every year - they have tonnes of lawyers at their disposal. Either get the perfection done before conducting the auction or clearly state all the possible risks associated I.e double transfer, time etc.

Problem is in Malaysia - the consumer prefers to be a lame duck hence kena buli.

I don’t know why banks advertise their CSR initiatives in the webpage and annual report- charity begins at home- just treat your customers fairly - that charitable enough

This post has been edited by Thasmita: Jul 7 2020, 07:29 AM

It was being auctioned by Arena Auctioneers Sdn Bhd. Is this considered as LACA? Do you have any suggestion on how can i expedite this case? Thanks.

Both bank & bank lawyer had been acting very very slow in responding on the documentations required. I did check with my lawyer before i bid and was told usually direct transfer will be allowed, but to our disappointment, developer refused to despite me visiting their office and speak to them on our request for direct transfer.

I am exploring if anyone else have such experience of performing double transfer without cash settlement. Could someone shed some lights pls?

Yea, i have actually lodged a complaint to BNM on this case and hopefully BNM would be able to assist. As of now, i do not know what else that i can do.

Need your honest answer ...

1. Did you follow up with the developer or Ambank or the bank's lawyer handling the case prior to the auction date with regards to the title.

2. You read the POS and fully understoood the TnC and clarify with the auctioneer office for any queries.



In a subsale, a buyer should always perform a title check with the land office prior to payment of earnest money. How many buyers do that ? ... NONE !

Sharing with you a true case ..


I bought a property 4 years ago directly from the seller. B4 paying the earnest deposit, I did a title search at the land office. The record shows a different owner.!

I asked the seller directly whether she is the owner and she showed me the SnP and Loan Agreement plus her receipts for monthly payment. All details matches the property description in the title. Even the chargee bank name is not endorsed in the title !

To cut the story short after investigation, all the documents are sleeping the the lawyer's office !

Mistakes of buyer ... did not follow up asking for photocopy of the title after registration of transfer.

Mistake of banker ... did not collect the ORIGINAL title deed for safe keeping after endorsement.

The lawyer didnt do anything for 8 solid years ! and buyer and banker couldnt bothered !

The question ...

What would have happened if I paid the earnest money and the seller is NOT the registered owner ?

This post has been edited by mini orchard: Jul 7 2020, 09:36 PM

Ts issue is double transfer and the developer is the obstacle. Why blame the bank?

Bank has no obligation to waive interest incurred during MCO but it did, and you want more and complained to bnm?!


This post has been edited by icemanfx: Jul 7 2020, 09:19 PM

Direct transfer from developer and by passing the 1st purchaser is fraud ! ... evading stamp duty payment !

There is no benefit to the developer for such request !

This post has been edited by mini orchard: Jul 7 2020, 09:32 PM