Feb 1 2021, 07:49 PM
QUOTE(hotguuy @ Feb 1 2021, 07:38 PM)
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
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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