Any dangers/pitfalls that I should know about? I'm looking into buying M Vertica lelong. In what scenario would I need to fork out more than 10% downpayment for participating in the auction. Are there any chances that I'll have to buy the whole unit in cash if I'm not able to able to get a mortgage? I've calculated my DSR & I qualify for ~RM800k. Pls educate me sifus thank you

If you can't get the loan, its either you forfeit the 10% or u pay cash.

Lelong is not child's play

If you calculated your dsr, you still need to prepare the 10% deposit

M vertica relatively new, so shouldn’t have too much hidden cost. Just need to check bumi/non bumi only. If DSR pass then just do it

And if strata done whether developer willing to direct transfer

What factors will prevent me from getting a loan despite having more than enough DSR?

Is this something the auction agent will know beforehand or will I only find out once I won the auction?

Do proper research - auction not always cheaper than market price. Never rush. Try to find a resident agent - view a few open market Unit - only after thorough research and you are satisfied that auction unit is cheaper or better - you go in. Factor in a 10% discount at least for the unknowns.

My personal strategy is 20-30% below real market price- don’t believe the auction agent market price.

Best to have the cash back up. But if really cannot, then try to buy freehold without needing to get consent. Do your research and get a lawyer to help you check the pitfalls of the case.

you need to prepare at least 18% cash. 10% deposit, the rest lawyer fees, etc.

if strata title is out, better check the developer agree to direct transfer or not. MS i think they dont want.

if double transfer, not sure u can complete within 90days or need to pay interest.

Yes rightfully agent will be able to advise else you can always call the developer offfice

can submit your docs to a banker or morgage expert to help check

if ur pay is fixed usually is okay

Need to do title search and only deal with lelong experts like selangor auction property

1st requirement.

Before you bid, you gotta make sure you have enough cash to pay final price. in case anything happen which requires full cash payment without loan.