7 Terrace House for Sale by Auction (Lelong) in Cheras, Kuala Lumpur
Cheras, Kuala Lumpur, is a vibrant suburb known for its bustling commercial hubs and well-established residential neighborhoods. For buyers seeking a terrace house in this popular area, bank auction properties offer a smart way to secure a home below market value. With reserve prices often 10-40% lower than typical market rates, auction homes can be an affordable entry point for first-home buyers and investors alike. Currently, a handful of terrace houses are available through bank auction in Cheras. The process is straightforward: register your interest, prepare the 10% deposit, and bid on auction day. For details on upcoming auction dates, reserve prices, and guidance through the bidding process, contact Peter Tan.
Jalan Bukit Permai 2/1
No. 39, Jalan Bukit Permai 2/1, Taman Bukit Permai 2, 56100 Cheras, Kuala Lumpur
Jalan Damai Kasih 12
No. 7, Jalan Damai Kasih 12, Alam Damai, 56000 Cheras, Kuala Lumpur
Jalan Damai Perdana 17/1A
No. 8, Jalan Damai Perdana 17/1A, Bandar Damai Perdana, 56000 Cheras, Kuala Lumpur
Jalan Damai Budi 6
No. 42A, Jalan Damai Budi 6, Alam Damai, 56000, Cheras, Wilayah Persekutuan Kuala Lumpur
Jalan Persiaran Minang 6
No. 9, Jalan Persiaran Minang 6, Taman Minang (Fasa 2), 56000 Cheras, Selangor
Lorong Mewah 10
No. 2, Lorong Mewah 10, Bandar Tun Razak, 56000 Cheras, Kuala Lumpur
Jalan Damai Perdana 15/1F
No. 22, Jalan Damai Perdana 15/1F, Bandar Damai Perdana, 56000 Cheras, Selangor
How to Buy an Auction Property in Cheras
- 1Shortlist properties
Browse auction listings in Cheras, compare each reserve price against nearby market prices and note the discount. Unsold properties are re-auctioned at a lower reserve, typically dropping 10% per round.
- 2Do your due diligence
Get the Proclamation of Sale (POS), check the land title, quit rent and assessment, outstanding maintenance fees and utility bills, and whether the property is still occupied. For strata units, confirm who settles arrears with the management office.
- 3Arrange financing early
Most banks finance auction purchases, but the balance is due within 90 to 120 days of the auction. Get loan pre-approval before bidding so your deposit is never at risk of forfeiture.
- 4Register and pay the deposit
Register before auction day through the bank's e-Lelong portal or the licensed auctioneer, and prepare a bank draft of 5% to 10% of the reserve price as the deposit. Requirements vary slightly between banks and auction houses.
- 5Bid and complete
Bid on auction day. The winning bidder signs the memorandum of sale on the spot and settles the balance within 90 or 120 days as stated in the POS, after which the transfer is completed. An auction specialist can guide you through every step.
Reminder: auction properties are sold as-is and may come with arrears or occupants, so always complete due diligence first. Contact Peter Tan for free guidance through the whole process. Read the full buying guide →
FAQ · Cheras Terrace House
How many terrace house auctions are there in Cheras?+
There are currently 7 bank auction (lelong) terrace house listings in Cheras, Kuala Lumpur, updated regularly.
How much below market are Cheras terrace house auctions?+
Reserve prices for terrace house auctions in Cheras are typically 10-40% below market value, even lower after several rounds.
Can I get a loan for a lelong terrace house in Cheras?+
Yes, many banks finance auction properties. Get loan pre-approval before bidding. Contact Peter Tan for details.
How much deposit do I need to bid in Cheras?+
You typically need a bank draft of 5% to 10% of the reserve price as the deposit. After a successful bid, the balance is due within 90 to 120 days as stated in the Proclamation of Sale.
What are the risks of buying a lelong property in Cheras?+
Auction properties are sold as-is and may carry outstanding maintenance fees, utility bills or occupants. Review the Proclamation of Sale and do a title search before bidding, or engage a specialist to assess it for you.