Auction Property - What are the fees involved? 4 Months, 3 Weeks ago
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Hi all,
I would like to find out what are the fees involved when a buyer take over an auction property. Hope that any agents or negotiators or expert or even a property investors can enlighten me with the costs. Thanks!
Re:Auction Property - What are the fees involved? 4 Months, 3 Weeks ago
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Nichole, I am a newbies on property auction as well. Anyway, I am aware that we have to prepare bank draft for 10% of the property price and prepare some extra cash or another bank draft to fill in the the balance of succeed bid 10% amount. E.g RM200,000 auction value property required a RM20,000 bank draft. If you have succeed winning the bid with RM220,000, then you need to top up extra RM2,000 band draft or cash to the property. There are many pre-cautious to be taken before/ after bidding an auction properties which I may need more advise from the experts.
Re:Auction Property - What are the fees involved? 4 Months, 3 Weeks ago
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Other potential free might be involved is the repairing work on wood structure od the property which damaged by termites. It is because we are not able to view the inside condition of the auction unit, as such, this risk should be taken into consideration.
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