Hening Terrace House For Sale Presint 16 Putrajaya
How to buy property auction in Malaysia?
Property auction is an event where foreclosed properties are sold to bidders, and it is managed by an auction house such as Property Auction House Sdn Bhd. Nowadays, it is one of the popular ways for a property investor in Malaysia to purchase property at much lower than the market price.
There are two types of property auction. The first type is Loan Agreement Cum Assignment (LACA) auction, and it is conducted by banks for properties without an individual or strata title. The second type is Non-LACA property where the auction is conducted by the High Court for properties with an individual or strata title.
For LACA property, the bidder must pay 5% of the purchase price as a deposit to the auctioneer and the balance must be settled within 90 days. For non-LACA property, the deposit is higher, at 10% while the balance should be settled within 120 days.
Before you go for a property auction, you may want to read the following guides.
No | Steps | Details |
1 |
Identify | Identify the desired property and find the relevant information as per your preferred location and within your budget. |
2 |
Inspect | Conduct an external inspection of the said property to understand of the condition. If possible, do an internal inspection. |
3 |
Independent research | Make some general enquiries with the relevant Land Office, developer or management office. Also, seek some independent legal advice on the property. A common problem is evicting occupants from the property, so be prepared to spend time and effort on this. |
4 |
Call the auctioneer | Get additional information about the property by calling the auctioneer or agent. |
5 |
Preparation | Take note of the auction time, date and venue. Prepare a bank draft for the required deposit (either 5% or 10%) of the Reserved Price.Prepare additional cash on the auction day to top-up the difference on the deposit sum between the successful bidding price and the reserved price. The sum must be paid immediately after the auction. |
6 |
Registration | Register your details prior to the auction. You may also register on the actual day before the auction. You have to get a copy of the Proclamation of Sale (POS) and Condition of Sale (COS). Make sure you understand all the terms and conditions. |
7 |
Bidding Time | The auctioneer will announce the commencement of the auction, and then provide a briefing on the bidding process. He will then read out the important clauses in the COS and the property information. After the auctioneer announces the starting price, the bidder should raise his/her bidding card to signify interest and also to indicate the bidding price. |
8 |
Successful bidder | The bidding process will stop when the highest price is called out three times by the auctioneer and no further bids can be made. At the fall of the hammer, the property is sold. |
9 |
Signing the contract | The successful bidder is required to sign the Contract of Sale and pay the remaining difference on the same day itself if there’s an increment to the successful bidding price. The balance of the purchase price must be paid within 90 to 120 days. Contact the bank to arrange for financing. |
10 |
Legal matters | Once you officially own the property, you can apply for a distress order on the occupants through a lawyer before you get a court order. It takes about three to four weeks to process a distress order, which costs around RM1,500-RM2,000. |
11 |
Unsuccessful bidding | If you are not the successful bidder, you may redeem your bank draft or cashier’s order at the registration counter immediately after the auction. |
2-Storey Terrace Seri Kembangan @RM475k
Rumah Teres 2 Tingkat
Location : Taman Taming Ria, Seri Kembangan ( berdekatan The Mines, Balakong )
Size : 20 x 70 , 1400sqtft
4 Rooms 3 Bathrooms
Freehold
Grill & awning, with new main gate
Extend kitchen 5 feet
Accessibility with strategic Location:
– 3 min to The Mines Shopping Centre
– 5 min to South City Plaza
– 7 min to Jusco Cheras Selatan
– 20 min drive to KL City Centre
– Public Transport available
– Near Primary & Secondary school & UPM
– Easy access to East-West Link , Silk Highway, Kajang, Cheras, , etc
-Nearby Putrajaya, UKM, KLUC, UNITEN, UKM
**Urusan Pinjaman Bank dan Peguam diuruskan
Price: RM475K (Nego)
SERIOUS BUYER ONLY!
10% Deposit ( Pastikan anda ada 10% cash deposit & layak loan sebelum menghubungi saya)
3% Booking & 7% upon signing SNP
Jika berminat dan ingin melihat sendiri rumah tersebut, sila hubungi saya di:
016-212 5909 (Rosniza)
– See more at: http://www.property-lovers.com/2-storey-terrace-seri-kembangan-rm475k/#sthash.5eayrQ7e.dpuf
Villa Impiana Semenyih, Taman Pelangi Semenyih (RM380,000-Nego)
Other Infomation
2 car parks 24 hours security
Air Conditioning Brand new
Build-in cabinet Covered car park
Face north Food location
Fully air-cond Gated-guarded
Kitchen cabinet Low density
Marble flooring Morning sun
Move in condition Near Amenities
Near college Near hypermarket
Near school Near shop
Partly furnished Quiet location
Urgent sales
Community Features
Bike Paths Controlled Access
Playground/Park
=====2 storey link, Villa Impiana, Taman PelangiSemenyih for sale urgent====
> 2 years old, bumi owner, freehold, 20′ x 65′,4r3br,2 living hall, kitchen
extended, matured neighbourhood, gated guarded
community, facing field
> Easy access to LEKAS highway
> Selling with 4 aircond, 2 water heater, 6 remote fan, water filter
Hubungi 016-212 5909 ( Rosniza Tanidi)
Ejen hartanah Anda!
Wilayah saya adalah Putrajaya, Cyberjaya, Bangi, Kajang, Bandar Seri Putra, Bandar Bukit Mahkota, Sepang, Salak Tinggi, Nilai dan kawasan sekitarnya.
~I’m very committed, Professional & friendly 🙂
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