What are the benefits of Owner Auction bidding?
i. The buyer knows the seller is fully committed to sell. Auction agreements obligate the seller to transfer title to the highest bidder in an auction.
ii. The buyer knows he is getting the property at fair market price as validated by the valuation report. The buyer feels comfortable with the purchase knowing that other would have been willing to pay for the reserve price for the property as his bid.
iii. The buyer sees many offerings in the same place at the same time. He is able to make market comparisons quickly and easily.
Who can participate as bidders?
Any eligible bidder who completes registration and complies with the auction requirements may participate, subject to applicable legal and ownership regulations.
Can I inspect the property?
Yes, you can inspect the property by making an appointment with our sales personnel.
How do I make an Auction bid?
Bid via our hybrid auctions, you may opt for in-person(physical) or online bidding to maximize reach and participation.
Do I have to put down a deposit to bid for the property?
Yes, an auction deposit of 3% of the reserve price is required.
If the bid is successful, what is the next step?
If you have successfully won the bid, you may proceed to execute the legal agreement with the vendor to complete the sale.
Is the refund of deposit guaranteed?
Yes. It is guaranteed by the Auctioneer firm under the Malaysia’s Auctioneer law.
Why shall we bid via Tenderprop?
Tenderprop provides a transparent and structured bidding platform designed to help buyers purchase properties with confidence. Every listing follows a guided process – from property selection to secure online bidding, ensuring fairness, ease and clarity throughout the transaction.
