If the caveator is not related to the chargee bank lar ... meaning of others 😅

This post has been edited by mini orchard: Jul 27 2025, 09:12 AM

that SD project one is it?

Good luck bro

Bro, if I were you, I skip and choose other house.
Unless the price and location are super attractive? Makes it worthwhile to get through the hassle

My guess of the caveat is that the borrower might have another loan with the bank, maybe personal loan and is in default. The reason for the recent caveat, since the property is going under the hammer.

The foreclosure sum may only covers part of the housing loan and the bank has to sue the borrower for the remaining.

The caveat is indirectly asking the bid winner to settle the PL for the borrower 🤔

Unless, one can find out the outstanding PL, to bid or otherwise will be left to the bidder decision..

This post has been edited by mini orchard: Jul 27 2025, 10:33 AM

so, better call the foreclosing bank to confirm whether i need to settle their PL as well la

No, ayam not becoming neighbour with sunkist oren

Ask what is the reason for the caveat first because I am just guessing and what the bank wants before they remove it.

This post has been edited by mini orchard: Jul 27 2025, 11:22 AM

Let me share what I did for my last auction.

It was a new vped property.

What I did ....

1. Received emailed from the developer to confirm a direct transfer to the new owner and also other money due to developer prior to handing over keys.

No title search done since still under master.

2. Received emailed confirmation from LPHS for approval to registered the property in new buyer's name prior to auction date.

3. Emailed the property mgmt to confirm outstanding maintenance fee.

4. Do site visit to confirm the actual unit no stated in the POS. Took photo of the unit front door with pos attached.

All confirmation received in writing prior to auction date.

Won the unit as a single bidder on the reserved price and was 20k above the developer's selling price.

Legal documents completed within the stipulated date in the POS but received the keys another 3 months later due to the passing the buck within depts of developer 😡

Whatever thing the bidder do with bank, developer or others, call and follow-up with email so that no disputes later.

I have to pay another 1k above the final price to the developer which is due from the first buyer before they handover the key.

For this unit, my budget for the final price is 30k above the reserved price. Luck was on my side as there was no other bidder. So use the 30k for reno 😅

Current asking price now for subsale is 60k above my purchase price. Is oredi 3.5 years now since I bought the unit. Small paper profit but most importantly no lose money 🤭

This post has been edited by mini orchard: Jul 27 2025, 12:27 PM

ahahahah u remember

for own stay or to flip?

condo subsale price nowadays varied. but many dropped from dev's selling price

Another small family home.