So, I am looking at an auction property right now.

The property has a bank caveat. not personal caveat.

Does this mean I can savely purchase the house?
if auction over, bank caveat automatically lifted?


some say caveat need to purchase cash, cannot get housing loan.
This the case for both personal caveat or bank and personal caveat also same?

This post has been edited by Porkycorgi5588: Jul 26 2025, 08:28 PM

If you are asking these questions...means you are not prepared for auction

Ppl dont know thats why they ask. U need to go around putting down ppl who took the courage to ask? Why?

typical old fag mentality lo.

sendiri dont have answer, then give sohai answer to make oneself look smarter and belittle others

How many bank caveats? If it is the same bank that placed placed the property for lelong, then suggest you check with that bank first. I've encountered a property that has multiple bank caveats. My lawyer said cannot proceed.

This post has been edited by yeeck: Jul 26 2025, 09:15 PM

You didn't engage agent?
I too have been contemplating buying an auction property but totally clueless, so may get an agent that specialises in auction to help.

Are you sure is a caveat and not a Charge ?

Which is the foreclosure bank and which bank lodge the caveat ?

If you want better advise, upload the title search report here. You can blank out owner's details. Just want to read the 'caveat'

The foreclosure bank has the first right to the property being auction followed by the bank caveat.

The auctioned price will go towards settling the outstanding loan and if insufficient (in most cases), then the foreclosure bank will sue the borrower for the remaining and cancel the Charge so the bidder will get title to the property. This is without caveat.

The second bank caveat gets nothing, so they won't lift the caveat unless whatever money owed is settled. Meaning, the bidder must pay above the auction price to get title to the property.

This post has been edited by mini orchard: Jul 26 2025, 09:55 PM

If lodge by the same auction bank, its fine.
If multiple banks then problem unless cash purchase.
Ask for the Proclamation of Sales (POS) and engage agent.

This guy does almost all auction(s) and his services are paid by the auctioning bank. You dont pay him anything.
https://www.facebook.com/banklelong123

Why would the same bank lodged a caveat ?

same bank.

single bank

This post has been edited by Porkycorgi5588: Jul 26 2025, 10:36 PM

Where? How much starting bid?

750k, residential. klang

this title search for current caveat
owner name removed.

My agent said if same bank lodge caveat means the owner refinance.

The caveat was lodged only few days ago.

The charged is oredi a good hold on the property.

When is the POS dated and the auction date ?

Surrounding market value how much?

auction date is 30 days from now.
i first got POS from my property agent 19th july.



what do you mean good hold on the property?

hear say this sohai not in country anymore.
I assume jump aeroplane.

but, you not yet complete your mortgage, can refinance? pre-2020, house was owned by another person.
meaning, this guy probably bought during COVID lows.

A chargee (auction bank) get preference over others.

Not sure why would the same bank refinance the same property when it is going into foreclosure as mentioned by another forumer's agent.

Learning something new today.

This post has been edited by mini orchard: Jul 26 2025, 11:38 PM

The chargee (auction bank) get preference over others to buy the house that it itself is auctioning?

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.