News about auction

The proposed implementation of eLelong by the Chief Registrar’s Office of the Federal Court of Malaysia (CRO) is aimed at mitigating issues surrounding the property auction process, particularly when it comes to syndicates.

THE Malaysian property auction market saw 12,336 properties worth about RM4.

PETALING JAYA (Aug 24): The Malaysian property auction market saw 6,274 properties worth about RM2.

PROPERTY auctioneers have noticed recently that more high-end properties (above RM1 million) are coming up for auction in the country, observes Property Auction House Sdn Bhd executive director Danny Loh.

KUALA LUMPUR (June 27): Auctioneers are seeing a decline in the number of properties being auctioned off, despite the expectation of more houses or shoplots going under the hammer in the current challenging economic environment.

JOHOR BAHRU (June 6): A property agent here has found out the hard way that it does not pay to cheat clients.

THE auction market may offer some good property deals later this year, including new properties that were sold under the Developer Interest Bearing Scheme (DIBS) a few years ago.

KUALA LUMPUR (March 12): The auction market has the potential to become an avenue to market non-distressed properties with some classy and creative sales strategies, said an auction market expert.

THE auction market continues to see fewer properties go under the hammer in the second half of 2015, indicating that owners still have strong holding power, according to auctioneers polled by City & Country.

THE supply of foreclosed properties up for auction has dropped as banks have foreclosed on fewer homes since 2012, according to several property auctioneers.