Is there anywhere to check if a property is listed for bank lelong?
Let's Talk Properties. The Q&As, What would you like to know?
Let's Talk Properties. The Q&As, What would you like to know?
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Nov 3 2020, 05:06 PM
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#1
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Junior Member
393 posts Joined: Nov 2006 |
Is there anywhere to check if a property is listed for bank lelong?
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Nov 4 2020, 04:27 PM
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#2
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Junior Member
393 posts Joined: Nov 2006 |
QUOTE(YeohKW @ Nov 4 2020, 04:22 PM) Check with auctioneers. You can try https://www.ngchanmau.com Huh? Is there no way of evicting people staying inside? Let's say if I eventually bought the property, doesn't it count as wrongly trespassing into my private property? No one can enforce it, e.g. the police?But do understand the risk of going for auctioned property. Especially if the property is currently tenanted. Understand that bank only sell the property, they do not be responsible on evicting the people staying inside. |
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Nov 5 2020, 09:43 AM
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#3
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Junior Member
393 posts Joined: Nov 2006 |
QUOTE(YeohKW @ Nov 4 2020, 04:42 PM) Worth taking note that currently in Malaysia we do not have a tenancy law. And the current law actually pro tenants than owner. Of cos there's way to evict the tenant, but it will be a long process and you need to get an eviction notice from the court. And that I heard some waited more than 6 months to get it. And there's not confirmation that you will get it. The other alternative is to engage a lawyer and file a civil case against the tenant. Thanks for the tips bro! Appreciate that. Looking to buy the property for own stay. Will try to dig as much info from the neighbours as possible.I would say this is one of the main concern when buying an auctioned property. There are other concerns too, such as the condition of the property. For auction properties, while you might get a great price, especially during this point of time, but at the same time, you are buying a property without looking at the inside of the property. So buyer better be prepared to fork out more for renovation cost if the conditions is bad. And they might end up paying more for the property due to the renovation cost. My advise is, make sure you know why are you buying it. Own use or investment. If own use, then not much issue as you probably buy it because u like the location, and an auctioned property comes with a rare good price. But for investment purposes, make sure you get as much info as possible. Maybe buy a fruit basket and get to know the next door neighbour to learn more about the person staying in the house. |
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