Q AND A

Question & Answer

Q: Why are Properties being auctioned?

Properties are being auctioned when the borrower can no longer make repayments to his / her housing loan or the owner just want to sell their house or properties by auction or etc reasons.

Q: How can I know more details of an upcoming auction?
Leo 0163345566 - call or SMS only
Eric: 0123161259 - call, SMS, What's App or We Chat

Q: What is the reserve price?

The reserve price is the lowest price at which the property can be sold. The auctioneer will start the bidding process with a price not less than the reserve price in the event that there is more than one bidder registered bidder for the same property. If there is only one registered bidder for the property, the property will be sold at the reserve price.

Q: Who will bear all the quit rent, assessment, maintenance outstanding and utilities bills?

The outstanding quit rent & assessment will be borne by the bank up to the date of auction. However, the payment of the outstanding maintenance and utilities charges will be subject to the terms and conditions stated in P.O.S. Interested bidders are advice to read the relevant clauses of the P.O.S.

Q: What are the benefits of buying auction properties?

It is a smarter investment choice as auction properties are sold at a fair market value without having to go through any long drawn negotiation. The risk of the abandoned housing development can be avoided.

Q: If I cannot attend the auction, what should I do?

If you cannot attend the auction, you can authorize us on your behalf or any one above 18 yrs old.

(Reminder: The bidder must bring along the original authorization letter together with your photocopy IC and bank draft to the auction)

Note: A person who has not reached the age of 18 (minor) or Bankrupt shall not be permitted to participate for the auction bidding. 

Q: Do I need to appoint my own lawyer to handle the transfer of the property ownership?

Yes, you need to appoint your own lawyer or either we get you an experience lawyer to act on your behalf to execute the transfer of the property ownership.

Q: What is the length of time given to complete the Contract of Sale?

The duration is either 90 days or 120 days from the auction date, depending on the Condition of Sale.

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