BeSt ViEw - MoZiLLa FiReFoX & GoOgLe chRoME

Tuesday 17 May 2011

Info: Nak Beli Rumah Lelong? Part II

This a simple notes and tip taken from Ehsan Auctioneers Sdn Bhd website for your info. For futher detail just CLICK HERE


Who may bid?

Intending purchaser who posses a Bank draft/Banker’s cheque be equal to 10% or 5% (depends on bank’s requirement) of the reserve price is qualified to become a bidder. Qualified bidder may delegate another to act as an agent or representative in his behalf. The delegate is required to submit a Letter of Authority and NRIC card photocopy of the intending purchaser.

What should I bring for the action?
  • NRIC card to qualify to bid and present it for identification and registration purposes.
  • Bank draft / Banker’s cheque amounting 10% or 5 % (depends on bank’s requirement) of the reserve price to be submitted during registration.
  • Extra fund as additional deposit to subsidize if there is man increment of the reserve price.
What to note at the auction?
  • Always check the specific amount requested and the Bank Drafts/Banker’s Cheque  are correctly payable.
  • Unprepared and inattentiveness during call bids will make you lose a probable opportunity.
  • Certainly do not bring personal or company cheques as Auction deposits.
  • To be present earlier to avoid disappointment.
  • It is important to listen to the auction proceeding very carefully to avoid unawareness.
  • Observe the details provided are correct in the Contract of Sale before endorsement.

What are the necessary documents needed for bidding?

For an individual bidder:
  • A photocopy of his/her NRIC card (both sides)
  • Correspondence address
  • Telephone contact no.
 For a Corporation:
  • A certified true copy of the company’s Memorandum and Articles of  Association. 
  • Form 44, 24 and 49
  • Board of Director’s Resolution
 For Agent / Representative:
  • Letter of Authority from the intending purchaser
  • A photocopy of the NRIC card (both sides)
What should I know before coming to auction?
  • Obtain the Proclamation, condition and terms of sale from the auctioneer.
  • Read and fully understand all the terms and conditions of sale.
  • conduct an official search on the parent title at the land office and/or other relevant authorities
  • inspect the property
  • verify pertinent particulars of the documents
  • verify the postal address of property with developer
  • check on the issuance of separate individual title with developer
  • seek legal advice on the terms and conditions of sale herein
  • make necessary enquires with the relevant authorities and the developer on the terms and conditions of the consent to the sale herein
  • the property is sold on ‘as is where is’ basis
  • Illustration in the advertisement or brochure of forthcoming sales is primarily for information and guidance on intending purchaser/s only.
Watchout for more auction house info later.. Once again, my personal advise..  the most important is LOCATION and LOCATION  .. Good luck & Happy buying!

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