Free guide for first-time buyers

Buying an auction property for the first time? Here is the process, A to Z.

Plain language. Short sentences. Every term explained. Ten steps from finding the property to getting the keys, with one full example in ringgit.

Start reading Step 1 WhatsApp me first

Understand every step before you spend a single sen
Know where the real risks are and how to reduce them
Know the full cost, not just the reserve price
You can ask me first before you make a decision

Prepared by Firdaus Jay, auction property agent. Call or WhatsApp 019-6522361.

Start here

What is an auction property?

An auction property is a house sold by a bank, the High Court or the Land Office because the previous owner failed to pay the loan. It is sold through an open auction, not by negotiation. All the conditions are written in one official document.

Reserve price = starting price

Bidding starts at the reserve price and cannot go lower. It is usually lower than the market value, especially after the first auction fails to sell. But not every unit is cheap: compare first.

Sold by a bank or the court

A bank auction is run by an auctioneer appointed by the bank. High Court auctions are mostly online through e-Lelong Kehakiman. Land Office auctions are held at the land office.

All the conditions are in the POS

The POS (Proclamation of Sale) is the document that sets out the auction conditions: reserve price, deposit, balance payment period, who bears the arrears. Read the POS and you already understand half the process.

Honestly

Afraid of what? Here are the answers.

Most people are afraid because they do not understand the process. When you do not understand, everything looks like a trap. In fact, once you read up and prepare, most of those risks can be avoided.

Afraid of being cheated?

An official auction has a POS document, an auctioneer or the court running it, and a bank or the court behind it. Everything is open. Do not pay anyone to "reserve" a unit: in an official auction, that does not exist.

Afraid the house has occupants?

It is possible. Step 5 shows how you can find out early, and Step 10 explains what you can do, as well as the time and cost you need to set aside.

Afraid the deposit will be forfeited?

The deposit is forfeited only if you win but do not sign the contract or do not pay the balance within the period. This can be avoided by checking your loan before you bid (Step 4). If you do not win, the deposit is returned.

Afraid of hidden costs?

Extra costs do exist, but they can be estimated before you bid. Step 6 and the cost table below show you how.

Only two types

Bank auction or court auction

The type of auction decides two things: how much your deposit is and how long you have to pay the balance. The type is written in the POS.

Type 1LACABank auction · Loan Agreement Cum Assignment

What kind of property: Separate title (individual or strata title) not yet issuedThe property is still under the developer's master title; usually apartments, condominiums or new houses
Who runs it: An auctioneer appointed by the bankAt the auction hall; some auctioneers offer online bidding
Deposit usually: 5% of the reserve price (the starting price)Some banks ask for 10%. Follow the POS.
Balance payment usually: 90 days from the auction dateSome banks give 120 days. Follow the POS.
How to pay the deposit: Bank draft made out to the name stated in the POS

Type 2Non-LACAHigh Court or Land Office auction

What kind of property: Title (geran) already issuedTerrace houses, bungalows, land, and apartments whose strata title has been issued
Who runs it: The court through e-Lelong, or the Land AdministratorCourt auctions are mostly online; Land Office auctions are in person
Deposit usually: 10% of the reserve priceFollow the POS.
Balance payment usually: 120 days from the auction dateFollow the POS and the Conditions of Sale.
How to pay the deposit: e-Lelong: online into the court's accountLand Office: bank draft according to the POS

Example: Property A (LACA), reserve price RM 200,000. Deposit 5% = RM 10,000, balance within 90 days. Property B (Non-LACA), reserve price RM 200,000. Deposit 10% = RM 20,000, balance within 120 days.

The process from A to Z

Ten steps, one at a time

Each step has three short lines: what to bring, when to do it, and the money involved. Press "Read this step" for the full explanation.

Find a suitable property

Choose the state, type of house and budget. Make a shortlist of 3 to 5 units.

Bring: just your phoneWhen: 3 to 4 weeks before the auction dateMoney: RM 0

Read this stepClose

WorryWhere do I look? I am afraid of coming across fake ads.

Answer

Every official auction property is advertised openly by the bank, the court or the auctioneer. It is not a private sale. At client.lelongbidgroup.com I gather thousands of auction units from all over Malaysia in one list. The basic list is free to view; full details are for members. Updated twice a day.

Choose the state, type of house and a price that fits your budget. Do not get attached to one house. Make a shortlist of 3 to 5 units so that you have options and are not under pressure.

Example: You want a terrace house in Seremban, budget under RM 250,000. Choose the state Negeri Sembilan, type terrace, sort by price, then pick 3 to 5 units to check further.

Tip: Note the auction date of every unit in your phone calendar. This date will not be postponed for you. If less than two weeks are left, there may not be enough time to check your loan and prepare the bank draft. Choose units that give you time.

Know the type of auction

LACA (bank auction) or Non-LACA (court or Land Office auction). The difference: the deposit and the balance payment period.

Bring: the POS, it states the typeWhen: as soon as you find a unit you likeMoney: RM 0

Read this stepClose

WorryThere are too many terms. I do not understand.

Answer

There are only two types, as in the table above. LACA is a bank auction for a property whose separate title (individual geran or strata) has not yet been issued. It is run by an auctioneer appointed by the bank. Non-LACA is a High Court or Land Office auction for a property that already has a title. High Court auctions are mostly held online through e-Lelong Kehakiman.

Bank auctions usually require a deposit of 5% of the reserve price (the starting price) and the balance within 90 days. Court auctions are usually 10% and 120 days. The actual figures always follow the POS of that unit: some banks ask for 10%, some give 120 days.

Tip: Not sure of the type? Send me the unit's link on WhatsApp. I will tell you the type and its main conditions.

Read the POS to the end

The POS (Proclamation of Sale) is the document that sets out the auction conditions. Every condition is in there, in black and white.

Bring: a copy of the POS (usually a PDF of 4 to 10 pages)When: 2 to 3 weeks before the auctionMoney: RM 0

Read this stepClose

WorryI am afraid there are hidden conditions I do not know about.

Answer

That is why the POS exists. The POS, or Proclamation of Sale, is the official auction document. It states the reserve price (the starting price), the deposit percentage, the name that must be written on the bank draft, the date and place of the auction, the balance payment period, and who bears the arrears. All of it is written before the auction begins.

Check these five things:

Reserve price.
Deposit percentage.
The name that must be written on the bank draft.
Balance payment period.
Who bears the arrears (maintenance fees, quit rent, assessment tax, bills).

If the POS mentions a caveat, it means another party has made a claim on that property. Ask a lawyer first before going ahead.

Example: The POS states "deposit of 5% of the reserve price by bank draft in the name of XYZ Bank Berhad". This means your bank draft must be in the name of XYZ Bank Berhad, not your name and not the auctioneer's name.

Tip: Search for the words "tunggakan" or "outstanding" in the POS. That is where it states who pays the outstanding maintenance fees, quit rent and assessment tax. Do not assume; read it. You can also send the POS to me and we will check it together.

Check your loan first

See the bank before you bid. Know how much you can borrow. This is the step that protects your deposit.

Bring: IC, 3 months of payslips, 3 to 6 months of bank statements, EPF statementWhen: 2 to 3 weeks before the auctionMoney: RM 0

Read this stepClose

WorryI am afraid my deposit will be forfeited.

Answer

The deposit is forfeited when you win but do not sign the Contract of Sale, do not top up the deposit as the POS requires, or do not pay the balance within the period. The most common cause is a loan that is not approved or is late. So check first. See the bank or a loan officer before auction day and ask them to confirm early how much you can borrow (loan pre-approval). Also check your credit record at Bank Negara (CCRIS).

Only the bank can confirm how much you qualify for, after checking your salary and commitments. Do not guess on your own. Banks usually lend up to 90% of the property price. For auction properties, especially LACA, some banks give less or decline. Choose a bank that is familiar with auction properties.

Example: The bank confirms you can borrow up to RM 250,000. So the RM 250,000 loan plus your own cash must be enough for the winning price and all other costs. That is your budget limit.

Tip: The loan must be approved and paid out within the balance payment period, usually 90 or 120 days. You cannot start from zero after you win. I can help match you with a bank that is familiar with auction properties.

View the property from outside

You usually cannot go in. Look from outside, ask the neighbours and the management office.

Bring: a phone to take photosWhen: 1 to 2 weeks before the auctionMoney: RM 0

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WorryI am afraid the house is badly damaged, or someone is living in it.

Answer

Auction properties are sold "as is, where is": what is there is what you get, including damage and occupants. Usually you cannot go inside. But a lot can be checked from outside:

Look at the roof, walls, fence and the surrounding area.
Ask the neighbours or the guard: is anyone living there or not?
For an apartment, ask the management office how much is owed in maintenance fees.

This visit is not to find a perfect house. It is so you know the real risks before you put down money.

Example: You visit in the evening. There is a car in the driveway and the lights are on. That means there are occupants. This is not a reason to walk away, but a reason to add time and cost to your calculation.

Tip: Take photos and note down what you see. For an apartment, ask the management office to give the arrears figure in writing if possible.

Work out the full cost, set your limit

The reserve price (the starting price) is not the final cost. Add up all the costs, then set your maximum price at home, with a cool head.

Bring: paper and a penWhen: before you get the bank draftMoney: your limit, for example RM 215,000

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WorryI am afraid there are costs that come up later.

Answer

There are extra costs, but they are not hidden. They can be estimated before you bid. On top of the purchase price, set aside money for legal fees, stamp duty (a government tax for the transfer into your name), loan costs, arrears that the POS says the buyer bears, repair costs, and the cost of getting the occupants out if the property is occupied. The full table is in the section Costs people often forget.

Write it all down on one sheet of paper. The figure at the bottom of that sheet is your real budget.

Example: Reserve price RM 200,000. Estimated other costs RM 20,000 to RM 30,000. So your real budget is around RM 220,000 to RM 230,000, not RM 200,000.

Tip: Set your maximum bid price now, at home, with a cool head. Write it on paper and bring it to the auction hall. Do not change that figure on auction day.

Get a bank draft

A bank draft is a cheque guaranteed by the bank, bought at the bank counter. The name and amount must be exactly as stated in the POS.

Bring: IC and POS to the bankWhen: 2 to 3 days before the auctionMoney: deposit, for example 5% x RM 200,000 = RM 10,000

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WorryI am afraid of getting it wrong and losing my money.

Answer

The process is standard. For bank auctions and Land Office auctions, the deposit is paid by bank draft made out to the name written in the POS, for the exact amount. Go to the bank counter, bring your IC, pay a small charge (roughly RM 5 to RM 10), and keep the receipt. For court auctions through e-Lelong, the deposit is paid online into the account set by the court, before the registration closing date, usually at least one working day before the auction.

The most important point: if you do not win, the deposit is returned. Your money is not lost just because you registered.

Example: A LACA property, reserve price (the starting price) RM 200,000. Buy a bank draft for RM 10,000 made out to the bank as stated in the POS, 2 to 3 days before the auction. Keep the receipt.

Tip: Check the spelling of the name on the bank draft twice before leaving the counter. A wrong name or wrong amount means your registration is rejected and you cannot bid that day.

Auction day: bid calmly

Register early, get your bidder number, raise your number within your limit. If you win: sign the Contract of Sale on the spot. If you do not win: the deposit is returned.

Bring: original IC and a copy, bank draft, copy of the POS, penWhen: arrive 1 hour earlyMoney: bank draft, plus a little extra in savings if the POS asks you to top up the deposit

Read this stepClose

WorryI am afraid of getting carried away. I am afraid of being tricked in the auction hall.

Answer

An official auction follows open rules. You register at the auctioneer's counter: show your IC, hand over the bank draft, fill in the form, get your bidder number. The auctioneer opens the bidding at the reserve price. Each time someone raises their number, the price goes up by the announced fixed bidding increment, for example RM 2,000 or RM 5,000. Everyone sees and hears it. The highest bidder wins.

If you win: you sign the Contract of Sale (the purchase agreement) right there, and your bank draft becomes the deposit. After signing, there is no going back. Most POS ask you to top up the deposit to make up 5% or 10% of the winning price. Some ask for it immediately, some give a few working days.

If you do not win: the bank draft is returned at the auctioneer's counter, usually on the same day.

For e-Lelong: the winner must top up the deposit to the percentage in the POS and is called to the court to sign the Contract of Sale within the time the court sets. Miss that time, and the deposit can be forfeited. The deposits of bidders who did not win are returned to their accounts within a few working days.

Example: Reserve price RM 200,000, increment RM 5,000. The bids go up: RM 205,000, RM 210,000, RM 215,000. Silence. The auctioneer repeats it three times. Sold! Your limit is RM 215,000. If someone else bids RM 220,000, let it go. There will be other properties. Deposit top-up if the POS asks: 5% x RM 215,000 = RM 10,750, so top up RM 750.

Tip: Your biggest protection is the figure you wrote down in Step 6. I can accompany you in the auction hall and remind you to stop at that limit.

Pay the balance within the period

Usually 90 days (bank auction) or 120 days (court auction), counted from the auction date. The actual period is in the POS. Appoint a lawyer in the first week.

Bring: Contract of Sale, deposit receipt, POSWhen: appoint a lawyer and submit the loan documents in the first weekMoney: balance of the price (loan + cash), legal fees, stamp duty

Read this stepClose

WorryI am afraid I will not be able to pay in time.

Answer

You have a clear period, written in the POS, counted from the auction date. Day one: appoint a lawyer who is familiar with auction properties, and send the Contract of Sale and the POS to your loan bank. Tell both of them the deadline, and ask them to plan so that everything is done before that date. Your loan bank pays the balance through the lawyer: for LACA, directly to the selling bank; for Non-LACA, to the party named in the POS and the Conditions of Sale (usually the auctioning bank's lawyer, or the Land Office). The auctioneer does not receive the balance. You pay yourself any part of the balance the loan does not cover.

You are not entitled to an extension of time. The bank may give a short extension with late payment interest, at the bank's discretion; for a court auction, an extension needs an application to the court. Plan to finish within the original period. If the balance is not paid, the deposit is forfeited and the property is auctioned again. Some Conditions of Sale allow the bank to claim the price difference and costs from you if the property is auctioned again at a lower price.

Example: You win on 10 November. 90-day period: the balance must arrive by 8 February at the latest. 120-day period: by 10 March at the latest. Winning price RM 215,000 minus deposit RM 10,750 (RM 10,000 + top-up RM 750) = balance RM 204,250. Loan of 90% of RM 215,000 = RM 193,500. Your own cash for the balance = RM 10,750.

Tip: Aim to finish at least 2 weeks before the deadline. Every day in that period is valuable.

Transfer into your name, collect the keys

The lawyer handles the transfer of the property into your name. The buyer has to get vacant possession themselves. Then change the locks and transfer the utility bills into your name.

Bring: documents from the lawyer, when called to signWhen: a few months after full paymentMoney: repairs and locks; court costs if the occupants refuse to leave

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WorryI am afraid the occupants will not leave.

Answer

After the balance is settled, your lawyer handles the transfer of the property into your name. For LACA, the document is called an assignment. For a property with a title, the transfer is registered at the Land Office through the Certificate of Sale issued by the court or the Land Administrator. The lawyer also handles the stamp duty. You only need to sign when called.

An auction property does not come with keys. If the house is empty, change the locks and register your name for electricity, water and assessment tax. If there are occupants, start by talking things over politely and give written notice. Many occupants move out when given reasonable time. If they refuse, your lawyer applies for a court order. This takes a few months and costs extra. Do not force your way in or change the locks yourself while the occupants are still there.

Example: Empty house: change the locks on the same day, apply for the electricity and water connections. Occupied house: give written notice and offer 1 to 2 months to move out. If that fails, the lawyer files an application to the court.

Tip: Set aside extra budget and time for this possibility from Step 6. If you do not need to use it, it becomes your repairs fund.

The same numbers from start to finish

One full example

Aiman, a first-time buyer. A three-bedroom apartment, bank auction (LACA). All figures are examples for explanation, not a promise.

Aiman's story in ringgitReserve price (the starting price) RM 200,000 · estimated market value RM 300,000 · won at RM 215,000

Deposit of 5% of the reserve priceBank draft in the name stated in the POS: RM 10,000
Deposit top-up, if the POS asks for it5% x RM 215,000 = RM 10,750, so top up: RM 750
Balance of the priceRM 215,000 less the RM 10,750 deposit (including the top-up), paid within 90 days: RM 204,250
Bank loan of 90%The bank pays through the lawyer to the selling bank: RM 193,500
Your own cash for the balanceRM 204,250 less RM 193,500: RM 10,750
Stamp duty for the transfer into your name (estimate)1% on the first RM 100,000, 2% on the rest: RM 3,300
Legal fees and loan costs (estimate)Transfer documents, loan documents, stamp duty on the loan, office costs: RM 7,000
Maintenance fee arrears (example)If the POS says the buyer bears them: RM 3,000
Repairs and locks (example): RM 10,000
Estimated total out of pocketAn estimate. RM 193,500 of it is the loan; your own cash in total is roughly RM 45,000: RM 238,000

The difference from market value is roughly RM 62,000. This is an estimate on paper. The actual figures depend on the bidding that day and your costs.

How long? Aiman's timeline

0
Auction dayWins, signs the Contract of Sale
21
Day 21Loan approved
70
Day 70The bank pays the balance, 20 days before the deadline
B4
Month 4Transfer into his name completed
B5
Month 5The occupants move out, Aiman moves in

An example only, not a guarantee. If the loan goes smoothly and the house is empty, an estimated 3 to 6 months. If the occupants refuse to leave and a court order is needed, it can take much longer.

So there are no surprises

Costs people often forget

The reserve price is only the beginning. This is the list of costs that need to be in your sums before you bid. Who bears what is always according to that unit's POS.

Cost	Short note
Deposit	Usually 5% (bank auction) or 10% (court auction) of the reserve price. According to the POS. It is part of the price of the house, but it must be ready as cash before auction day.
Deposit top-up	If your bid goes above the reserve price, most POS ask you to top up the deposit to 5% or 10% of the winning price, immediately or within a few working days. Example: RM 750.
Balance of the price	The winning price less the deposit. From the bank loan and your own money, within the period the POS sets.
Legal fees	According to the official scale: roughly 1.25% of the price for the transfer documents, and 1.25% of the loan amount for the loan documents, plus office costs and searches. Ask for a written quotation before you appoint one.
Stamp duty	Government tax for the transfer into your name, calculated on the purchase price or the Inland Revenue Board (LHDN) valuation, whichever is higher. Example RM 215,000: roughly RM 3,300. Stamp duty on the loan agreement is 0.5% of the loan (RM 193,500: roughly RM 970). Exemptions for first-time home buyers exist at certain times and do not necessarily apply to auction properties; the lawyer checks whether you qualify.
Loan costs	Property valuation fee, processing fee and loan insurance (optional). Differs by bank.
Arrears on the property	Maintenance fees, quit rent, assessment tax, water and electricity bills. Who bears them, up to which date and up to what limit, differs from one POS to another: some banks bear them up to the auction date with a certain limit, some put everything on the buyer. Check the arrears clause in the POS and the Conditions of Sale, and ask the management office for the actual amount.
Developer's consent (LACA)	For a LACA property, the developer or landowner needs to give consent before the property can be assigned to you. There is usually an administrative fee, and arrears owed to the developer or the management need to be settled first. According to the POS and the developer's letter.
Repairs and locks	You do not see the inside before you buy. Set aside money for locks, paint, pipes and wiring.
Getting vacant possession	If the occupants refuse to leave: notices, legal fees and a court order. Can be zero if the house is empty or the occupants move out amicably.

Learn from others

Nine first-time buyer mistakes

Trusting a "middleman" who says they can guarantee a win, or who asks for payment to "reserve" a unit. In an official auction, there is no such thing. All registered bidders compete openly.
Bidding first, checking the loan later. This is the number one cause of a deposit being forfeited.
Not reading the POS to the end, then being surprised by the arrears you have to cover.
Bank draft in the wrong name or for the wrong amount. Registration is rejected and you cannot bid that day.
Not looking at the house and the area. Not knowing there are occupants, not knowing about arrears.
Getting carried away in the auction hall and bidding past your own limit. A cheap price turns into the market price.
Treating the reserve price (the starting price) as the final cost. Forgetting legal fees, stamp duty, loan costs, arrears and repairs.
Being slow to appoint a lawyer and slow to submit loan documents after winning. The 90-day period passes faster than expected.
Not noting the auction date and time, then missing it. The auction is not postponed for anyone.

Frequently asked questions

First-time buyer questions

Is it true that an auction property is cheaper than a normal house?

Usually yes, but not always. The reserve price is usually lower than the market value, especially after the first auction ends unsold. Work out the full cost and compare it with the sale price of similar units before you bid.

If I do not win, do I lose my deposit?

No. The bank draft is returned at the auctioneer's counter after the auction of that unit is over, usually on the same day. For e-Lelong, the deposit is returned to your account within a few working days according to court procedure.

Can I go inside the house before bidding?

Usually not. The house is sold "as is, where is", and the bank or auctioneer does not have the keys. Look from the outside, ask the neighbours and the management office, and set aside a budget for repairs.

Someone is still living in the house. What then?

You, the buyer, have to get the occupants out yourself, after the house is in your name. Start by talking and with a written notice. Many occupants leave when given reasonable time. If they refuse, your lawyer applies for a court order. Do not force your way in or change the locks yourself.

What if my loan is rejected after I win?

You are still obliged to pay the balance within the period. If not, the deposit is forfeited and the property is auctioned again. Some Conditions of Sale allow the bank to claim the price difference and costs from you if the property is re-auctioned for less. That is why Step 4, check the loan first, is done before bidding.

How long from auction day until I get the keys?

Roughly 3 to 6 months if the loan goes smoothly and the house is empty. If the occupants refuse to leave and a court order is needed, it can take much longer. This is an estimate from experience, not a guarantee.

Can I use EPF to buy an auction property?

An EPF Akaun Sejahtera (formerly Account 2) withdrawal to buy a house can usually be applied for on an auction property using the POS and the Contract of Sale, according to current EPF conditions. Apply early, and do not count on the EPF money arriving exactly on the deadline.

I cannot attend, or I want to bid on behalf of my husband, wife or company. Can I?

Yes, with a power of attorney (individual) or a company resolution, and the name on the bank draft as required by the POS. Court auctions through e-Lelong are online in any case, and some bank auctioneers also offer online bidding. The conditions differ by auctioneer. Ask me early.

Do I need to pay Firdaus Jay for this help?

Contact me first to discuss. If there is a charge for any service, I will tell you clearly in writing before you make any decision.

Next step

Understood the process? Now look at real properties.

Thousands of bank and court auction units from all over Malaysia are in one list at client.lelongbidgroup.com. The basic list is free to view; full details are for members. Updated twice a day. Pick your state and budget, see the reserve price and the auction date.

See auction properties across Malaysia

The list is updated twice a day. Pick your state and budget.

Found a property you like? WhatsApp me, 019-6522361. Send me the unit link and I will check the POS and work out the full cost for you before you bid.

The latest units every day on Telegram: t.me/lelongbid8

Terms you will hear

Short glossary

Reserve price: The starting bid price set by the bank or the court. The property is not sold below this price. Usually lowered if the previous auction had no buyer.
POS (Proclamation of Sale): The document that sets out the auction conditions. Reserve price, deposit, the name for the bank draft, date and venue, balance payment period, who bears the arrears. The most important document to read.
LACA: Loan Agreement Cum Assignment. A bank auction for a property whose separate title (individual geran or strata title) has not yet been issued. Conducted by an auctioneer appointed by the bank.
Non-LACA: A High Court or Land Office auction for a property that already has a title (geran).
e-Lelong: The Malaysian Judiciary's online auction system for High Court auctions. Register, pay the deposit and bid over the internet, following the instructions in the POS.
Bank draft: A cheque guaranteed by a bank, bought at the bank counter. For an auction, it must be in the name written in the POS and for exactly the deposit amount.
Deposit forfeited: The deposit is forfeited: you win but do not sign the contract, do not top up the deposit, or fail to pay the balance within the period, so the deposit is not returned and the property is auctioned again.
Contract of Sale: The purchase agreement (Memorandum or Contract of Sale) that the winner signs as soon as they win. It binds you to pay the balance within the period.
"As is, where is": You accept the property in its current condition, including damage and occupants, with no guarantee from the bank or the court.
Transfer into your name: Lawyers call it an assignment for LACA, and a transfer through the Certificate of Sale at the Land Office for a property with a title. Your lawyer handles it after the balance is paid.
Vacant possession: The property is empty, with no occupants, and you can move in. In an auction, this is the buyer's responsibility, not the bank's.
Caveat: Another party has a registered claim on the property. If the POS mentions a caveat, ask a lawyer first.
Loan pre-approval: The bank confirms early how much you qualify to borrow, before you bid. Helps you know your bidding limit.
Auctioneer: A licensed person who conducts bank auctions. Court auctions are conducted by the court through e-Lelong, and Land Office auctions by the Land Administrator.

Disclaimer. This guide is general information, not legal or financial advice. Every auction has its own conditions in that unit's POS and Conditions of Sale: the deposit percentage, balance payment period, bidding increment and who bears the costs can differ. All figures in the examples are illustrative. Always refer to the POS of the unit concerned and get advice from your lawyer and bank before making a decision. Firdaus Jay is a property agent, not a lawyer or a licensed financial adviser, and does not guarantee any auction outcome. This site is not officially connected with any bank, court, Land Office or auctioneer. Unit information at client.lelongbidgroup.com is collected from public sources, updated twice a day, and may change or be withdrawn without notice.