Our Service
Before The Auction:
- We will get u a land search / title from land office, to double confirm the property status are clear and without any encumbrances such as private caveat has been lodge on the title of the property. Performing a land search can also make sure if the property has been issued with individual or strata title.
- We will also check on the outstanding maintenance fees (if any), electricity and water bills for you and confirm with they bank it's all this hidden cost are payable by the bank due to the auction date.
- We will also authorization to bid on behalf of bidder (you) and give an oral advise for you and make clear how property auction goes.
Having Auction:
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We provided the tips to distinct yourself from other bidder as a winner at auction.
After Auction:
- We will collect the auction contract of Sale on behalf and send it to you by hand. If you are 1st house buyer we will also arrange panel lawyer experienced in auction property Sales transfer. If you are needed we will also arrange banker for property financing/loan.
Others :
*We provided services on minor to major repair of property.
*We also provided services on all renovation needed for your property.
Balance Purchase
The Balance of the
purchase price will be paid by the successful purchaser to the bank within one
hundred and twenty (120) days from the date of the auction property.
If default of such payment of the balance of the purchase price or any interest pay able for any extension of time which may be granted for the payment of the balance of the Purchase Price within the time and the manner as stipulated, the deposit shall be FORFEITED by the bank and the property may again be put up for auction.
If default of such payment of the balance of the purchase price or any interest pay able for any extension of time which may be granted for the payment of the balance of the Purchase Price within the time and the manner as stipulated, the deposit shall be FORFEITED by the bank and the property may again be put up for auction.
In this case, if you intend to take up a bank loan for your auction property, be careful that the date to release of payment from your financing bank may longer than 120 days. Though certain banks allow pre-approval of loan for auction property before the auction date, it would be easier if you have already had a bank approval or either cash to pay the balance purchase price. This is to prevent your deposit being forfeited due to late payment caused by any possible reason.
Outstanding Balance
Sometime there may be many outstanding bills like assessment,
quit rent, maintenance charges or utilities bills that have yet to be settled
for an auction property.
Apportioning outstanding payment between yourself and the bank
that called for the property to be auctioned may take some time. Normally you
will need to pay all the outstanding bills after you successfully bid the
property and then submit the receipts to claim the bank’s portion from the bank
through your lawyer.
*The ways of settlement are stated in the proclamation document of each auction property. You can get a copy of the proclamation document from property agent appointed by bank before the auction date.