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Tag: Auction Articles

Pecah Rumah atau Pecah Muka


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Location : Henry Butcher, Ng Chan Mau, Ehsan Auctioneer


PAH



Time : 10:30am – 1130pm


Date : In the month of July, 2009

Few auctions we went for bidding and it amazed me that nowadays, there are a lot of potential buyers through auction. Whether they have money, real money (please find the definition) or they are gambling. Gambling with interest rate, BLR, future income, credit card, personal loan etc.

We managed to win some of the auction we entered but in this posting i would like to mention a little bit on what happen next, after the auction.

Legally, the unit won is still not YOURS! Remember that. You have only paid the deposit of 10%/5% to purchase the property. Immediately after winning the auction, usually the successful bidder will pay a visit to the said unit and hiring someone to do “Ops Masuk”. Why ?


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The reason that there is a clause in your POS stating that whatever happen to the unit won, it is the responsibility of the buyer. I would like to question the authority on this matter as we are legally not the Owner of the Property but……..it is our responsibility ????

“Ops Masuk” Definition


– Pecah Rumah, property is well locked. Hire someone with expertise to enter the house (eg. Locksmith).


– Jumpa Penyewa, immediately request the tenant to pay rental to you. “Legally, you are responsible but not yet the Owner”.


– Jumpa Pemilik Rumah, meeting the owner of the unit would be difficult. There are cases whereby the owner is not willing to move out from the house even though we have the electricity and water supply being cut off from the unit. We meet one Malay owner who politely invited us in and served us cold drinks while we chatted with him. He can accept the facts. The facts that his house has been auctioned and we bought it legally.


-Pecah Muka, this is when Pecah Rumah is completed, but the owner came during the OPS MASUK. What happened next ? Can you imagine coming back from work, tired and when you reach your door, there are 2 young guys trying to break your door lock ? Would you be confused ? At that moment, can you think rationally ?

Lu Pikir La Sendiri!

This served as a reminder to myself.

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Rumah untuk dilelong. Rumah lelong.


Siapa nak register dengan saya untuk unit lelong Mentari Court ?


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Wow! Apartment with swimming pool, located in Subang.
Nak sewa pun senang. Nak jual pun senang.

-tuanbri-

016 310 6500
bri(at)satusolution.com
Satu Solution Corporate Services

Why Invest In Properties ?

FD Satu Solution (3)


Why do we want to invest in Real Estate ?


I will give you 4 reasons: (there are 5 actually)

1) Rental property.


The monthly payments responsibility has been taken over by the Tenant, provided that the Rental adequately covers your loan payment. This is what we called “+ve Cashflow”.


Not many people can actually afford to hold and maintain multiple properties over an extended and indefinite period of time while waiting for the value to rise. 0607_1911090219_PenaraJai (7)

2) Pre-construction investment.


This is a highly speculative! and very risky!.


But the fact that many millionaires have been created through pre-construction investing and many more will be created in the future. Wow!


This is very popular in high demand areas that are known to experience housing shortages as prices often rise quickly and the units are often sold before they are completed. 0425_1809560528_161000

3) Flipping houses.


More and more people have decided to pursue this sort of investment in hopes of creating big profits in a short amount of time and with minimal investment.


The problem, of course, is that it always looks like “kacang putih”. Many people have unrealistic expectations when it comes to costs and ability and there are plenty of risks involved with this type of investment as well.


4) Buy and hold.


Real estate tends to gain value over time. Even if the buildings are in desperate need of repair the very land they are standing on is more often than not gaining value as the years pass by.


Purchasing several houses and holding on to them for as long as possible before selling can often fund


a. college educations for children,


b. for weddings, or


c. greatly supplement retirement funds.


The longer these properties are held the better in most cases as this provides the greatest opportunity for the value of the property to increase. I am suggesting this for most of my clients, with a minimum of 5 years holding period. These are only some of the investment opportunities that exist for those who are interested in real estate for an investment avenue. Needless to say real estate investing offers many opportunities to the savvy investor.



-tuanbri-



016 310 6500


bri(at)satusolution.com


Satu Solution Corporate Services

Problem @ Saujana Ria Apt

Location : Wangsa Permai

Time : 3.00pm


Satu Solution went to meet the tenant of the unit won by our client somewhere in May.


Actually our survey report stated that there was no one staying in the unit or in another word, the unit is empty.

SaujanaRia (1)

We wanted to do our Ops Masuk as usual for empty units. When i went there, i heard water running in the bathroom. eventhough there is no sign of light inside. So i decided to knock the door a few times, just to make sure.


A lady, indonesian opened the door. I quickly explain the situation to her. Showed her the signed and stamped contract. She was a little bit confused. According to her, she already spoke to the x owner regarding this matter. X owner assured her that he already settle the matter with the bank. She was already looking for another house.


She understood the matter and agreed to pay the next month rental to the new owner.

Even her husband was very nice to us. Soft spoken.

Saujana Ria (2) Saujana Ria (1) Saujana Ria (4) Saujana Ria (3)


Few days later, one guy called me and started to scold me. I was a little bit taken off guard.


This guy claimed that he is a ’Datuk’ and he is already suing the Bank for auctioning his house. He told me that he has already paid the O/S to the bank and yet his house was auctioned. And the worse thing is…he want to sue me for seeing his tenant. I spoke to him politely, this could be a misunderstanding. How come you want to sue me as i have not done anything wrong? Why you have to shout at me?

“No, no, no. You dont ever dare to come near to my house. Who is your lawyer? I will make sure my lawyer sue you.”


Bona fide.



OD/ASB ? Property investment ?

bri(at)satusolution.com

Satu Solution Corporate Services

016.310.6500

Bagaimana membeli rumah lelong

 

1. Menyediakan Deposit
Amaun deposit adalah bersamaan 5% ATAU 10% daripada Harga Rezab.
Anda perlu memastikan amaun ini daripada terma-terma di dalam Pengisytiharan Jualan (Proclamation of Sales) di iklan-iklan lelongan tersebut di akhbar atau pun melalui pelelong berkenaan.
Contact the auctioneer for a copy of the POS.

2.
Membuat Bayaran Deposit
Kebiasaannya 2 jenis bayaran yang diterima untuk deposit adalah melalui ‘Bankers Cheque dan ‘Cashiers Order’.
Ada juga pelelong yang terima Kad Kredit atau Tunai.
Sekali lagi, anda perlu dapatkan maklumat ini di dalam Pengisytiharan Jualan atau menghubungi pelelong berkenaan.  Adalah sebaiknya untuk mengelak daripada membayar secara Tunai.

3.
Mendaftar Diri sebagai Pembida
Hadir awal 1/2 jam sebelum lelongan untuk pendaftaran.

Pastikan anda membawa bersama deposit anda untuk pendaftaran dan mendapatkan resit bayaran/borang pendaftaran pembida daripada pelelong.
Sila pastikan juga no. lelongan hartanah adalah sama dengan hartanah yang ingin dibida oleh anda.  *Elakkan daripada memaklumkan kepada orang yang tidak dikenali daripada mengetahui hartanah yang ingin anda bida dan juga harga tertinggi yang sanggup anda bida.  Ini adalah untuk mengelakkan daripada diketahui oleh sindiket di lelongan tersebut.
keyword “Ulat”. Ini akan saya kisahkan dalam artikel yg lain.


4.
Menggunakan Ejen sebagai wakil anda
Boleh mendapatkan khidmat ejen hartanah yang boleh bertindak sebagai wakil kepada anda untuk membuat bidaan.

Pastikan ejen tersebut adalah daripada wakil syarikat ejen hartanah yang sah, seperti saya.



5.
Membuat Bidaan
Anda akan diberikan pad bidaan untuk membuat bidaan apabila giliran hartanah yang ingin dibida anda tiba.  Pelelong akan membaca sedikit maklumat asas mengenai hartanah sebelum bidaan dimulakan pada harga rezab.  Pelelong juga biasanya akan mengumumkan amaun kenaikan setiap bidaan jika terdapat lebih dari satu pembida, contohnya kenaikan RM1,000 pada setiap bidaan.  Anda hanya perlu menunjukkan no. bidaan anda apabila ingin membuat bidaan.  Lelongan akan berhenti apabila tiada lagi persaingan untuk bidaan.

6.
Pengumuman pembida berjaya
Setelah tiada lagi pembida yang memuat tawaran lebih tinggi, pelelong akan mengira sehingga 3 (1,2,3) dan seterusnya mengetuk tukul menandakan lelongan ditutup dan mengumumkan pembida yang berjaya. Pembida yang berjaya kemudiannya dikehendaki untuk menandatangani borang penerimaan belian dan membayar baki deposit kepada pelelong selepas lelongan berakhir pada hari yang sama.
 

7. Mendapatkan Pinjaman
Dalam tempoh 90 atau 120 hari (tengok balik dalam POS), pembeli dikehendaki menjelaskan baki harga jualan sama ada dengan mendapatkan pinjaman ataupun membayar tunai.  Jika tidak dilaksanakan, pembeli berisiko berhadapan kehilangan wang deposit melainkan kelewatan adalah bukan disebabkan oleh pembeli. Boleh minta lanjutan tempoh drpd pihak Bank tetapi atas budi bicara bank tersebut untuk memberi lajnutan tersebut. (bahaya!) 

Tidaklah begitu susah untuk membeli rumah lelong. Cuma perlu penuhkan ilmu di dada dahulu sebelum membida.


Ingat tuan tanah, ingat tuanbri.

Anybody interested in purchasing auction properties ?
Rumah Lelong 2009 Auction properties.
CIMB RHB OCBC

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

Rumah Lelong – Selecting The Right Property at Auction

Be “Crystal Clear” with the financial side first.

 

How do you know the right property when you see it?

How do you get the best auction property at the best price?

How do you know which property is right for you?

 


Do not even think about bidding before you are 100% sure of all the costs involved.

 

We believe an educated bidder is a smart bidder.

 

Other factors you need to consider are:

Your budget

Costs – all costs – especially ones you may not have considered

Key location factors

Whether the neighbourhood is on the up

 

Determine your budget

The clearer you are on exactly what you want to invest in, the quicker you will find property for sale at auction.

 

You have to first consider what you can afford before you even think of the range of properties and the location of the house on auction.

 

Generally you will be looking at financing the property with a 5-10% deposit and also you will have the costs of buying, refurbishment etc to get the property in a condition where you can rent or sell it.

 


Visit the property

Visit the property at least twice to determine all the costs involved and use professional tradesman to give you three estimates on any work needed. If you cannot view it, do not buy it.



Costs you may not have considered

Examples of costs you may not have considered are major arrears on the property or local authority debts on the property. (see explanation below) 

The simple fact is, if you want to make a smart investment decision, if you want to make a profit, you have to buy a property that will give you a profit. Neglecting the costs involved is one way of losing money instead of making it.

Major arrears

Major arrears come into play if the property is rented and the tenants owe an amount of money to the vendor. Once the vendor has sold a property it is relatively difficult for them to get the tenant to pay the outstanding arrears. It is common for the vendor to provide in the contract of sale (Special conditions of sale) a clause stating that the purchaser at auction pays a sum at completion equal to any arrears outstanding. This leaves the buyer in a bad position in that he has paid out in full and has to get the money back from the tenant. The arrears could be uncollectible or might take a lot of effort and time to obtain.

 

Local Authority debts on the property

When the legal searches are obtained by your solicitor it could reveal a local authority charge against a property. You should be sure that the conditions of sale provide for this. 


What to look out for when choosing location:

Transport links

Schools

Doctors/ Hospitals

Sports facilities

Shops

Restaurants

 


What to find out when choosing location:

Local Crime rate

Social Mix

Council Tax rate

Rubbish collection

Parking

 

Is the area on the up?

An attractive property in a sought after area will ensure both strong rental returns and attract ongoing tenancy. It will also be easier to sell, and sell more quickly.

 

As you want to benefit from as much capital growth as possible, the first rule is to buy in a growth area.

 

Experts define suburbs located up to 10 kilometres from a city’s central business district as likely to be a growth area.

 

Have more questions about property auctions? Find “Satu Solution” for you answers.

 

Don’t pay too much for a piece of property.


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

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

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