Property auctions are one way for property investors to purchase properties for much cheaper than the market price. These auctions are overseen by auction houses like Property Auction House Sdn Bhd. There are two types of auctions: judicial and non-judicial auctions. One type is called the Loan Agreement Cum Assignment (LACA) auction. This type of auction is directed by banks and is a great way to purchase property for much cheaper than the market price.
Before you bid on a property, you should do some research on the neighborhood and amenities. This is important for a number of reasons, including convenience, accessibility, safety, and public transportation. Once you have a rough idea of what you are looking for, you can call the auctioneer for more details.