Tuesday , 21 May 2013
Berita Hartanah!

6 Things to Watch Out For Purchase of Properties Through Auction!


1) Always READ the Proclamation of Sales (POS) carefully, as it will denote few important details such as : 

- the earnest money payable to 
- terms and condition 
- who’s paying the maintenance fees, sinking fund,indah water (IWK), assessment and quit rent and utility bills owed? 

(2) Watch out for syndicate 
- don’t worry about them, just ignore them and make your bid, they are NOT genuine bidder 

(3) Watch out for timing 
- especially for highcourt cases, always make sure your solicitor can complete the transfer within the prescribed time, usually 90 days or 120 days, if not, your 10% earnest money will be forfeited without questions 

(4) Watch out for *caveat* 
- always do a title search before auction date, should u find any caveat lodged against the property, the BEST way is to buy CASH. If you are thinking of getting partly funding from the banks for the caveated property, think twice. 

(5) Watch out for the previous ownings 
- always check and verify the prevous owner’s owning to the Management Corporation, Indah Water, assessment , quit rent and utility authority. 
- In most cases, the bank will be responsible to maintenance fees, quit rent and assessment,however, this is not automatic, please always check with bankers or POS. 

(6) Auction property is always sold without vacant possession 
- it simply means that it the property is tenanted, you got to let the existing tenant to continue occupy the premises until the end of the tenancy period, however, i would always advise you to sign a brand new tenancy agreement with the tenant. 



Anybody interested in purchasing auction properties ?
Rumah untuk dilelong. Auction properties.

i can be contacted at
016 310 6500
-tuanbri-
bri(at)satusolution.com
Satu Solution Corporate Services

About tuanbri

Tuan Bri adalah seorang yang pakar dalam Bidang Hartanah khususnya d Malaysia. Berpengalaman selama 7 tahun didalam bidang hartanah. Beliau juga adalah specialise dalam membantu merancang kewangan anda menuju financial freedom.

3 comments

  1. You should not proceed when there is caveat. Buying cash does not remove the caveat. Please ponder this. If it is still a master title, always there are lists of caveats entered, most of the time, the caveat entered does not mention on which property the caveat is entered for. A lot of matters have to be considered.

  2. Saya pernah tanya perguam mengatakan caveat tidak sah sekiranya beli lelong di perjabat tanah.

Leave a Reply

Your email address will not be published. Required fields are marked *

*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>


CommentLuv badge

Subscribe without commenting