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Malaysia’s leading auction property listing website and services
Auction Property Market In Malaysia
Auction properties in Malaysia is divided into two types. LACA cases and Non-Laca cases. Both type of auction have their own set of rules and regulation. It is important to know which type of auction is the auction unit that you are looking at.
LACA
NON-LACA
LACA
LACA cases are usually known as “bank lelong case” whereby the bank is the one that is auctioning the property out.
- Master title / Strata title (MOT yet to be completed)
- 90 or 120 days for completion (with option for extension of time)
- Sale being set aside (when there are failure in transferring of ownership)
- Auctioneer at its absolute right & discretion to make the rules
- E-bidding / Auctioneer hall
NON-LACA
Non-LACA is usually known as “high court case” whereby the high-court is the one auctioning the property
- Strata / Individual title
- Stipulated period of 120 days for completion (no extension of time shall be permitted, subject to Order of Court)
- Minister / Judges make rules from time to time
- E-lelong / High Court / Land Office
