Auction Procedure

Auction Procedure

1.       Identify property from Take note of the description, details of property for auction.

2.       Get proclamation of sale from Leong Auctioneer SDN BHD.

3.       Site visit.  Inspect property for it condition and do a general research to get outstanding balance.

4.       Appoint agent or self bidding.

5.       Prepare bank draft. Be prepared to top up for the 10% of the reserve price or the final sold price immediately after the auction.

6.       Bidding process. The auctioneer will announce the commencement of the auction. Bidder is to raise his hand to signify his interest to bid for the property.

7.       Success or Lose. The highest offer during the bidding process, when the auctioneers’ hammers fall, property is sold.