How much deposit is needed to join the auction?

For auction cases, you generally need 10% of the reserve price. In some LACA cases, the bank may allow for 5% deposit to participate.

Can I view the property before joining?

For auction properties, you cannot view the interiors of the property. However, you can view the property from outside. If it is a condominium / service apartment, viewing outside the gate is subjected to management approval.

Can I take loan when buying auction properties?

Yes, you can take loan when buying auction properties, just like how you would take loan for buying any property in Malaysia. Loans up to 90% can be taken from the bank. However, no mark-up loan is available for auction units. You can only take loan based on the successfully bided price.

How much cash should I prepare to join the auction?

It is recommended that you prepare up to 20% of auction sold price to comfortably acquire the auction property. Case to case basis, each auction unit may require different amount of cash on hand. We will advise you based on the due diligence checking.

Do I need to do the due diligence checking?

If you engage with us and appoint us as your agent, you do not have to do the due diligence checking. Our team will assist you to do the due diligence and uncover whatever hidden cost that the unit may face.

How to participate for the auction?

Please do not hesitate to contact our team to participate in a property that you are interested in. You can reach us via +6011 5640 8150 (Wesley).

What happens if I lose the bididng?

If you lose the bidding, your deposit will be fully refunded to you. We do not charge for attempting to bid and the bank will not take your deposit if you lost the biding.

What happens if I decide to cancel the sale after winning?

If you decide to cancel the sale after winning the bid, the bank will not refund you the deposit. Even with good reasons such as 1. Bumi lot (unable to transfer title to your name) 2. Caveated unit (unable to disburse the remaining 90% via loan) 3. Developer under liquidation (lawyers unable to process the documentation within the time frame) And any other reasons you can find. Do consult us before participating in any auction unit as we will help you uncover these details and advise whether it is safe to proceed or not.