Properties worth over RM2.8mil up for auction

Properties worth more than RM2.8mil will be up for auction on Saturday at The Star Property & Home Fair 2008.

Henry Butcher Malaysia (Penang) Sdn Bhd International Business Development vice-president Helen Tan said there would be best buy properties from only RM9,600.

“On Penang island, some of the good buys include apartments at GL Garden at RM115,000, Bukit Awana at RM60,000, Terubong Indah at RM29,000 and Gold Hill at only RM20,000 while an apartment at Saujana Heights will be auctioned off at only RM24,000.

“For properties on the mainland, one may also consider Teluk Indah at only RM18,000, while a three-storey shop at Megamall, Perai Jaya, will be auctioned off at RM190,000,” she said.

Tan said that there would also be a special auction lucky draw at the fair, subject to terms and conditions.

“Three lucky winners will win a two-night stay in Phuket or Koh Samui,” she said.

Tan said sale of properties by way of a private auction was a common and successful method practiced by more mature property markets overseas.

“We believe this method of disposal can be very effective for securing the best possible price,” she said.

She also said a sale by public auction would generate a higher level of interest among would-be purchasers due to its wider publicity and greater degree of transparency through an open bidding process.

She said it would ensure a quick sale as it would avoid a long drawn negotiation process, which could occur in a sale by private treaty.

Tan said intended bidders needed to buy a bank draft amounting to 5% of the reserve price payable to the assignee, and bring the bank draft for registration before the auction begins at 1pm.

“Early registration is encouraged to avoid queues in the registration room.”

She said the bank draft would be treated as part of the purchase price if the bidder was successful in the bidding.

She added that unsuccessful bidders would immediately get back their bank drafts.

Intended bidders are advised to obtain a copy of the conditions of sale from Henry Butcher’s office. For more information, call the office at 04-2298999 or Ang at 012-4306401 or Law at 016-4212216.

by The Star

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