Hi all,

Asking for family member.
Currently they have try to ask around for buyer, no buyer interest.
There's multiple unit on bank lelong and also many units sells below market price.

This just example
The leasehold property initial price is 1 mil. Loan at 900k
Bank lelong around the area unfurnish 800k, online property price tag around 800-850k.

Urgently need to dispose this property. Due to not able to coop with it.

Few question,

1) if the property sell at loss, how does the offset amount been paid? The bank will still give another loan for that offset?
2) it's RPGT still in effect if sell at a loss?

Appreciate the answer

have ur family member go to akpk? they can help to restructure the monthly loan repayment thus it will be lower. then get an agent to sell it at above lelong price, 900k maybe? so ur family member loss will be minimal. can pay it lower every month while waiting for the agent to get any potential buyer. because if the area is not hot area, it will take time, this is just to minimize the loss. hope this suggestion helps.

Just hope everything is fine.
Definitely will go seek AKPK.
Just don't want other family member worse case declare bankrupt or insolvency. And their entire life is ruined