3 Apartment / Condo for Sale by Auction (Lelong) in Sri Petaling, Kuala Lumpur
Sri Petaling, a bustling hub in Kuala Lumpur, is known for its convenient location and vibrant community, making it a sought-after area for apartment and condo buyers. For those looking for a good deal, bank auction properties in Sri Petaling offer a unique opportunity to purchase homes at prices often 10-40% below market value. This small selection of auction units includes affordable condos and apartments for sale, ideal for first-home buyers and investors. The process is straightforward: register your interest, pay a 10% deposit, and bid on auction day. To find out more about upcoming auction dates, reserve prices, and how to participate, contact Peter Tan at BidNest Auction.
Taman Sri Endah
No. 5-2-1, Jalan 3/149B, Taman Sri Endah, 57000,Sri Petaling, Kuala Lumpur
Endah Regal Condominium
No. B-15-6, Block B, Endah Regal Condominium, Jalan 3/149E, Taman Seri Endah, 57100 Sri Petaling, Kuala Lumpur
Endah Regal Condominium
No. B-4-6, Block B, Endah Regal Condominium, Jalan 3/149E, Taman Seri Endah, 57000 Sri Petaling, Kuala Lumpur
How to Buy an Auction Property in Sri Petaling
- 1Shortlist properties
Browse auction listings in Sri Petaling, 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 · Sri Petaling Apartment / Condo
How many apartment / condo auctions are there in Sri Petaling?+
There are currently 3 bank auction (lelong) apartment / condo listings in Sri Petaling, Kuala Lumpur, updated regularly.
How much below market are Sri Petaling apartment / condo auctions?+
Reserve prices for apartment / condo auctions in Sri Petaling are typically 10-40% below market value, even lower after several rounds.
Can I get a loan for a lelong apartment / condo in Sri Petaling?+
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 Sri Petaling?+
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 Sri Petaling?+
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.