Flat for only RM9,000
06/09/2006 The Star By K.KASTURI DEWI

WANNA buy a flat from as low as RM9,000 only?

Well, just drop by the grand auction to be held on Sept 15 and Sept 16 in conjunction with the Star Property & Home Fair 2006 at the Penang Inter-national Sports Arena (PISA).

Henry Butcher Malaysia (Penang) Sdn Bhd legal and corporate manager Helen Tan said some 130 pieces of property worth more than RM7mil will go under the hammer at the fair this year.

She said the flat that would be auctioned off from as low as RM9,000 is a 600sq ft three-bedroom unit in Kulim.

“Flats, apartments, residential landed property, retail outlets and office units will be offered at the auction,” she said.

Tan said staff from RHB Bank, Hong Leong Bank, Maybank and EON Bank would be at the auction to assist successful bidders with loan financing.

She added that the reserve price for some pieces of property were way below their market value as the property had been auctioned for the third or fourth time.

“The reserve price for the property this time around has been reduced as much as 40% from the initial auction reserve price,'' she said.

Among the “favourites” on the list were a 700sq ft flat in Taman Terubong Indah at a reserve price of RM41,360, a flat in Taman Seri Hijau at Jalan Van Praagh at a reserve price of RM80,190, a 500sq ft flat in Saujana Heights in Jalan Teluk Kumbar going for RM26,000 and a 883sq ft apartment unit at Park View Tower in Jalan Harbour Place, Butterworth, at a reserve price of RM113,100.

“Research shows that it is smart to buy property at an auction as the property is usually purchased at below market value.

“The potential buyer determines the price through competitive bidding and is sometimes lucky as he or she is only one bidder registered to make the bidding,'' she said.

“Once the bidder is successful, all he or she needs to do is sign the contract and pay the deposit according to the bank’s terms and conditions,” she said.

The deposit required by the banks could be 5% or 10% of the auctioned property, she said.

Tan advised buyers to re-quest for copies of the Proclamation of Sale and Condition of Sale.

She said potential bidders could inspect the property they wished to bid if they registered at the Henry Butcher’s office at 142-M, Jalan Burma from Sept 11 onwards.

Tan said in conjunction with the property fair, Henry But-cher would be holding a roadshow at the Pacific Megamall in Prai from 10am to 10pm from Sept 8 to Sept 10.

A similar roadshow will also be held at the Dewan JKKK in Alma, Bukit Mertajam, from 3pm to 7pm from Sept 9 to Sept 10.

Potential buyers can also call the Henry Butcher office at 04-2298999 or any one of Henry Butcher’s auction team members at h/p: 012-4306401, 012-4051306, 012-4755677, 012-4768881, 016-4105006, 017-5722981, 012-5875870 or visit the company’s website at http://www.henrybutcherpenang.com to find out more about the auction.