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AUCTION PROPERTY 

iherng
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Link to Jeff's FB page: / lelongkingjeff
Besides new property, subsale property, bulk purchase, one of the hot topic right now would be the marketplace of auction property.
It took me quite some time in updating my knowledge in this particular topic as it has transformed tremendously with the application of technology. So, hope you guys liked it.

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14 окт 2024

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Комментарии : 64   
@grailsgarden5910
@grailsgarden5910 3 года назад
I still remember participating in an auction with my uncle. He won a bungalow for 2.6M near shah alam but the situation got really sticky. The previous owners and his family do not want to budge nor move out, keeps bad-mouthing us when we visited the unit, eventually my uncle had to seek legal procedures to force them out of the house which took a lot of time and energy, the house only became properly vacant after 1year+
@iherng
@iherng 3 года назад
OMG, the process must be dreadful:/ Anyway, thanks for sharing that story with us. It would be a great lesson for everyone here!! Thank you so much!!
@marcusmosa9452
@marcusmosa9452 Год назад
It's absolutely normal.. As they have no any roof on top.. Thats why it said to visit the house before bidding
@Arvinross
@Arvinross 3 года назад
Great video Sean. The first step is to ensure the price is at least 15% below equivalent subsales units and the next step is to do a title search after obtaining the Proclamation of Sale. The title search can easily show you if the property has any caveats or not.
@iherng
@iherng 3 года назад
Great sharing Arvin!! I really appreciate it:)
@jeffshim9853
@jeffshim9853 Год назад
Interesting to know that house and land can be 2 different subjects !
@iherng
@iherng Год назад
Yupe. Anything can happen within the landscape of real estate in Malaysia hahaha:)
@BOO000m
@BOO000m 3 года назад
Thanks for taking time to research for the topic. You're making sure the info you obtain is correct before recording this podcast. Quality !! Thanks Sean !
@iherng
@iherng 3 года назад
I've learnt a lot too. Thanks for watching Pizza!!
@Silvertron1970
@Silvertron1970 3 года назад
wow .... so easy to understand ... thanks Sean.
@onglilynicole
@onglilynicole 10 месяцев назад
👍🏻 much appreciation for this AUCTiON PROPERTY video. you're correct that many potential buyers are 'lost' in the complicated issue arise from auctions property. THUS ... we're very grateful of you pointing out ALL essential issues for due consideration. therefore, we would be more informed & confident in future auctions property. BiG THANKS for this educational video 😊 2023Dec01st, Fri
@hurrycocamas2502
@hurrycocamas2502 2 года назад
Very good and funny videos bring a great sense of entertainment!
@iherng
@iherng 2 года назад
=)
@cohesian
@cohesian 3 года назад
Thank u sean very informative!
@iherng
@iherng 3 года назад
Glad it was helpful Pudding=)
@puiyinchai1437
@puiyinchai1437 3 года назад
Hi Sean, quick question here ya. If the reserved price is 300k, i won the bidding at 320k. The 20k i need to pay in cash full or 10% only ya?
@iherng
@iherng 3 года назад
You'll need to add on later but that still depends on the loan amount you apply. The 10% of the reserve price would be the 'entry' for you to participate in the bidding=) Great question Pui Yin.
@amoamo5041
@amoamo5041 3 года назад
Hi Sean! Did you make any vdo regarding subsale properties! I’m in the middle of interesting to purchase a subsale property
@iherng
@iherng 3 года назад
What would you like to know Amo?
@amoamo5041
@amoamo5041 3 года назад
@@iherng Waltz Residence is my first priority
@siewkee6093
@siewkee6093 2 года назад
Totally helpful, totally enlightening
@Ken6013
@Ken6013 Год назад
Thks for the video, but the link for Jeff is no more valid.
@SharmaineDORK
@SharmaineDORK 5 месяцев назад
Was about to comment this as well
@harrythian456
@harrythian456 3 года назад
So are you expecting 2021 September only got a lot of auction house?
@iherng
@iherng 3 года назад
That is if you're expecting for stocks that were affected by the pandemic. But my team are feeling incredibly positive about the property market right now.
@elprofessor1396
@elprofessor1396 2 года назад
Hi Sean, Can a Foreigner enter an Auction (Taking in consideration the foreigner price limit threshold of 600k)
@dannin1826
@dannin1826 3 года назад
Thank you, very informative!
@iherng
@iherng 3 года назад
Thanks for watching Danni!!
@lowkokjin
@lowkokjin 3 года назад
First to comment after iherng reopens the comments section!
@iherng
@iherng 3 года назад
Yea. I didn't know what was wrong as I post just like how I usual do:/ But thanks for watching Kok Jin!!
@alexandermalaysia5530
@alexandermalaysia5530 3 года назад
Hi Sean, can an owner with indivdual title (property) not pay for the past and current maintenance in a gated and guarded residential area, which he won through an auction? Does an individual title come with such legal obligation?
@iherng
@iherng 3 года назад
Hi Alex, how is he having an individual titled project in a stratafied neighbourhood? So it's important to check is it governed under the strata act first. If yes, it's governed under strata act, then the owner is obligated to pay. If it's individual titled, then he's not. Well this also depends whether the Resident Association is registered or not.
@alexandermalaysia5530
@alexandermalaysia5530 3 года назад
@@iherng What has the Resident Association got to with it? The RA was only established recently but maintenance is still under the developer since the launch of sale of its bungalow land. As I peruse original first owner's S&P, it contains lots of conditions and covenant leaning towards the vendor (developer) including "Service Charges for Maintenance" and especially "Purchaser's Covenant Running with the Lot" whereby the provisions would be binding on heirs, successor-in-title and all subsequent purchasers.. I think it would turn messy if debated in court.
@iherng
@iherng 3 года назад
So is it a residential land (bungalow lot I assume) located within a gated and guarded compound? Because your statement sounds totally different if it's a terrace house within a guarded neighborhood. I think since you bought it via auction, you're the client of the lawyer that prepares your SPA. I would suggest you to ask him because it's quite impossible for me to have full context of your property to advise properly.
@amidlifecrisis
@amidlifecrisis 3 года назад
Would you know if foreigners can buy condos at auctions?
@iherng
@iherng 3 года назад
Not too sure. But it'll still be limited to the price limit and product type I guess. Do contact Jeff for more info as he's the expert in this manner=)
@jasonwong2851
@jasonwong2851 3 года назад
Sorry to say your effort is not good enough. There is a big error to say after successful auction you get to sign a new SPA! The bank auction the property because they have the right to do so because of defaulted payments from their borrowers. Actually when you succeeded in the bid you need to engage your lawyers for the deed of assignment transferred from the bank to you. There is no new SPA. New SPA IS FOR SUBSALE. Please correct your error. Thank you.
@iherng
@iherng 3 года назад
Thanks for correcting Jason=)
@kuanghongwang1743
@kuanghongwang1743 3 года назад
@jason you sound like a pro but there are also mistakes from you. Deed of assignment is only applicable for master title property, from where do you find an individual / strata title property under deed of assignment i wonder. So since you did not mention which title is it , it would be very inaccurate to use the word DA in this context. Yes the correct word is not SPA, but THE CONTENT IS THERE and viewer can understand better that way. So stop being a hatred and enjoy the video.
@chartwolf
@chartwolf 3 года назад
Hi Sean... I really enjoy your RU-vid channel. Can foreigners buy auction properties?
@iherng
@iherng 3 года назад
I think it's still restricted under the price limit. But do check with Jeff yea, he is the best person to advise you=)
@yayotwo
@yayotwo 3 года назад
Thanks for doing this video
@iherng
@iherng 3 года назад
Thanks for watching Yayotwo=)
@lingduingting2631
@lingduingting2631 3 года назад
Thks
@iherng
@iherng 3 года назад
You're most welcome Ling. Thanks for watching=)
@jasonlee9401
@jasonlee9401 3 года назад
More of this please 🙏🙏🙏 Planning to get one for investment first time buyer 😊😊😊
@iherng
@iherng 3 года назад
Haha. Thanks for watching Jason=)
@eunicechew
@eunicechew 3 года назад
How to contact Jeff?
@iherng
@iherng 3 года назад
You can check out his FB page. The link is at the description =) Tell him I said hi hahaha!!
@eunicechew
@eunicechew 3 года назад
@@iherng Thanks Sean, I didnt see the FB link on the phone earlier. From laptop it is more visible. Sure will send your regards.
@SharmaineDORK
@SharmaineDORK 5 месяцев назад
​@@iherngthe link is no longer valid tho 😢
@zeehao5748
@zeehao5748 3 года назад
Can we buy auction property using epf money ?
@iherng
@iherng 3 года назад
Well, it depends on your definition of EPF. If you want to withdraw out just to buy auction property then I don't think so. But if you have taken the money out as you're 55 then it's possible. Thanks for watching Zee Hao=)
@tangchuengkhai
@tangchuengkhai 3 года назад
No you can’t extend the payment date after 120days lapsed. So bye bye to your 10%
@iherng
@iherng 3 года назад
Well it depends case to case as you can appeal. I've seen a case than dragged more than 6 months. Thanks for sharing!
@interactiveledger8990
@interactiveledger8990 3 года назад
Most of the time, can extend with valid reason. You just need to pay for some penalties for late settlement.
@davidkoay4356
@davidkoay4356 2 года назад
nana kaninah... nannn nanna... nana kaninah... nannn nanna...*why your video so addictive one..
@iherng
@iherng 2 года назад
:)
@ernestng4084
@ernestng4084 2 года назад
Hi, sean, can't find the lelong jeff fb page anymore, is the fb link still valid ya?
@iherng
@iherng 2 года назад
Owh really??! Let me ask him. Thanks for letting me know:)
@kent6053
@kent6053 2 года назад
@@iherng Hi Sean, do you have the updated fb link? Thank you in advance!
@remisierlim2774
@remisierlim2774 Год назад
Hi, Sean! Any updates?
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