Property Auction

A property auction is the sale of property through an ope?n bidding process. Own your auction property with Bank Rakyat. 

Type of Auction 

All prospective bidders are advised to observe the following information prior to participating in a property auction: 

1. 1. Conduct all relevant searches and inspections on the property and refer to the Proclamation of Sale (POS) through the auctioneer. 
   2. Verify the issuance of individual or separate Strata Title/Individual Title. 
   3. Perform an official title search at the Land Office or other relevant authorities, with consent, to verify the terms and conditions. 
   4. Obtain a copy of the Proclamation of Sale and Conditions of Sale from the auctioneer prior to the auction.  
   5. Seek legal advice on the Proclamation of Sale and Conditions of Sale from the auctioneer prior to the auction. 
   6. Confirm with the developer on bidder eligibility (open to all or restricted to Malaysian citizens who are Bumiputera only). 
   7. Understand that the property is sold on an “as is where is” basis. 
   8. Properties listed for auction may be withdrawn at any time without prior notice. Neither the Chargee/Bank nor the auctioneer shall be liable to prospective bidders for any losses arising from such withdrawal.