How to Bid on a Lelong Property
如何参与银行拍卖（Lelong）竞标
- 1
Visit the property
Go to the address in the listing and look at it from the outside. Auction units usually can't be entered, so the street view is what you get.
亲自到地址现场查看。拍卖单位一般不能进入屋内，只能从外面观察。
- 2
Find out what comes with it
Ask whether there are unpaid charges or other fees attached to the unit, and who ends up paying them: the buyer or the bank.
了解该单位是否有未清的费用或其他款项，以及这些费用最终由买家还是银行承担。
- 3
Run a title search
Have a land search done on the property, including a caveat search, to see whether anything is registered against the title.
为该产业进行土地查询（包括 caveat 查询），确认地契上有没有任何登记的限制。
- 4
Arrange your loan and lawyer
Get your bank loan approval and appoint a lawyer before you bid, not after you win.
在出价之前就先安排好银行贷款和律师，而不是等到得标之后。
- 5
Register to bid
Give your full name, NRIC number and address so you can be registered as a bidder.
提供姓名、身份证号码和地址，登记成为竞标者。
- 6
Prepare the 10% deposit
Have 10% of the bid price ready as a bank draft or online transfer.
备妥出价金额的 10% 作为保证金，以银行汇票或网上转账方式支付。
- 7
Attend the auction
On auction day the highest bidder wins the property.
拍卖当天，出价最高者得标。
- 8
After the result
If you win, you sign the contract and finalise your bank loan. If you don't, your deposit is returned in full.
得标后签署买卖合约并完成贷款安排；没有得标的话，保证金会全额退还。
Ben Foo assists with every step, before and after the auction, free of charge. 我们免费协助您处理拍卖前后的所有环节。
WhatsApp Ben FooFrequently Asked Questions
Can I go inside a lelong property before bidding?
Usually not. Auction units generally can't be entered, but you can inspect the property from the outside using the address in the listing.
How much deposit do I need to bid?
You prepare 10% of your bid price, paid by bank draft or online transfer.
What happens to my deposit if I lose the bid?
It is refunded to you in full.
What happens if I win?
You sign the contract and complete your bank loan arrangements, so it helps to have your loan approved and a lawyer appointed beforehand.
What details are needed to register as a bidder?
Your name, NRIC number and address.
What should I check before bidding?
Look at the property from outside, ask about any outstanding amounts or fees that the buyer or bank must cover, and have a land (caveat) search done on the title.
Do I pay for your help with the process?
No. Ben Foo helps with the steps before and after bidding at no charge. Message on WhatsApp to get started.