My experience on Auction Property

Recently I targeted a landed properties at mahkota cheras (Auction Unit). So I call up a few agent and different agent say different thing. Who to believe??? Kanasai.

Agent 1:

Pay 1% commission if success.

Agent 2:

Pay RM 300 for administration (Land search for private caveat) and RM 1000 commission if success.

Agent 3: ( My friend)

No need to pay the agent. Only 3 bank lelong that don't pay the agent commission ( Maybank, MBSB and can not remember)

Every agent have a auction database that can search for the POS ( Proclamation of Sale).

From the POS, you can call the lawyer to find out whether it is " PRIVATE CAVEAT " (mean you have to pay by cash to buy the property and loan is not applicable, after 6 to 8 months you unfrozen the caveat only can get loan)

You can also ask for the quit rent, electric bill to the auctioneer lawyer which state in the POS...

And worst still the auction property can call off 1 day before the auction, (KANASAI)

A very good experience indeed. Ha ha ha.

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