Is it true that flat that was re-possessed (eg owner can no longer pay up) by bank, then put up to auction-off is cheaper than flat in resale market?
If that's the case, how to find out the availbility of "auction flat"?
2007-03-03 13:23:17 · 2 answers · asked by Frosty 1 in Home & Garden ➔ Other - Home & Garden
There's no such thing as cheaper flat due to auction. HDB also want to make money. Don't believe me ? Then just ask yourself when you seen students carrying donation cans raising donations for "HDB Flagday" ? All they got are parking attendants and wardens with their small gadgets putting out summons. Most times the resale market is due to the owner want to moveout, upgrade, get cash , died or because divorced so there is urgency to sell. HDB sit on so much money, they will not worry how long they wait before some buyer takes the unit. Do not forget now many people sell their flat under market valuation, so I think you at least can bargain from resale market. The bad thing is the agent make your money , that's how they survive
2007-03-03 13:47:42 · answer #1 · answered by wongdong 2 · 0⤊ 0⤋
Auctions are for high price property with high reserve price. Many tenders fail as a result. Bank have an army of real estate agents. Their job is to obtain the highest price for the bank benefit. But maybe if you known someone is the credit department and is dying to tell us about it?
2007-03-08 15:18:26 · answer #2 · answered by unnga 6 · 0⤊ 0⤋