Auction properties in Malaysia
For property investment in Malaysia, sometimes you may get a good bargain through auction. If you choose to go this route, here are a few pointers:
Attend several so you become familiar with the process.
Get the address of the property and go to the site to have a look. For most auction properties, you might not have chance to inspect the properties. However, judging from the external view and surrounding environment might help you in your decision making.
You need to do your appraisal work properly. You need to know the market value of the property before you bid.
Your final bid must be substantially less than market value. Why? Because you don’t want to eat your PROFITS!!!!!!
Also read through the “Proclaim of sale”, title of the property and talk to your real estate agent, lawyer and bankers. Seek their professional advice before you go for the auction.