750k, residential. klang

No, ayam not becoming neighbour with sunkist oren

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 🤭