Lelong units fr affordable & medium cost units
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 Feb 1 2021, 07:38 PM, updated 5y ago
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#1
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Junior Member
356 posts Joined: Jun 2018 
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I m fr Penang... I see some lelong units are from affordable project.
But, affordable projects binding ALL OWNERS FOR MINIMUM 5 YEARS. If I buy via lelong, will I need to bind 5 yrs too? And for condo OUTSTANDING maintenance fees, who will pay? BANK OR ME? THANKS |
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Feb 1 2021, 07:49 PM
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#2
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All Stars
23,688 posts Joined: Aug 2007 From: Outer Space  
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QUOTE(hotguuy @ Feb 1 2021, 07:38 PM) I m fr Penang... I see some lelong units are from affordable project. If I buy via lelong, will I need to bind 5 yrs too?But, affordable projects binding ALL OWNERS FOR MINIMUM 5 YEARS. If I buy via lelong, will I need to bind 5 yrs too? And for condo OUTSTANDING maintenance fees, who will pay? BANK OR ME? THANKS  Yes, low cost term remain the same. Next purchaser (regardless buy from lelong market or subsale market) will be imposed 5 years cant sell restriction (depends on state regulation). And for condo OUTSTANDING maintenance fees, who will pay? BANK OR ME? Refer to the POS. Each auction case depends on the bank T&C. Mostly will cover outstanding. Some will cover partial. (Example, cover max 10k or max up to 6 years default only). And got cases also that will not cover anything. |
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Feb 1 2021, 09:17 PM
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#3
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Senior Member
1,322 posts Joined: Jun 2019 
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How about those Rumah WIP / PR1MA / Selangorku? Also same?
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Feb 1 2021, 09:37 PM
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#4
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Junior Member
356 posts Joined: Jun 2018
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QUOTE(AskarPerang @ Feb 1 2021, 07:49 PM) If I buy via lelong, will I need to bind 5 yrs too? U seems Knowledgeable. Yes, low cost term remain the same. Next purchaser (regardless buy from lelong market or subsale market) will be imposed 5 years cant sell restriction (depends on state regulation). And for condo OUTSTANDING maintenance fees, who will pay? BANK OR ME? Refer to the POS. Each auction case depends on the bank T&C. Mostly will cover outstanding. Some will cover partial. (Example, cover max 10k or max up to 6 years default only). And got cases also that will not cover anything. If affordable units, need to bind 5 yrs even lelong? D 5 yrs calculated fr date of purchase fr d lelong units? |
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Feb 2 2021, 08:33 AM
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#5
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Senior Member
1,559 posts Joined: Apr 2007
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QUOTE(hotguuy @ Feb 1 2021, 09:37 PM) U seems Knowledgeable. Of course knowledgeable. He's the master of auction If affordable units, need to bind 5 yrs even lelong? D 5 yrs calculated fr date of purchase fr d lelong units?  |
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Feb 7 2021, 05:27 PM
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#6
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Senior Member
3,274 posts Joined: Sep 2005
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QUOTE(AskarPerang @ Feb 1 2021, 07:49 PM) If I buy via lelong, will I need to bind 5 yrs too? Thanks for the info. Yes, low cost term remain the same. Next purchaser (regardless buy from lelong market or subsale market) will be imposed 5 years cant sell restriction (depends on state regulation). And for condo OUTSTANDING maintenance fees, who will pay? BANK OR ME? Refer to the POS. Each auction case depends on the bank T&C. Mostly will cover outstanding. Some will cover partial. (Example, cover max 10k or max up to 6 years default only). And got cases also that will not cover anything. Then, it's not recommended to buy affordable project? |
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