Standard Condition Of Auction Sale

This property will be sold by the General Sales Conditions are known dengan'Syarat Johore Sales Conditions' but must be complied with in all respects with what is referred to below, and if there is a conflict between the 'Terms and Conditions of Sale Johor' dengan'Special Conditions of Sale ', the latter shall prevail.


SPECIAL CONDITIONS OF SALE

• All bidders who wish to make an offer is required to register and deposit them with the Deputy Registrar, High Court, Johore Bahru, a total of 10% of the reserve price set for the property with a bank draft on behalf of the Plaintiff before 9.30 am on auction day .

• Any person wishing to bid on behalf of another person, statutory bodies or companies required to submit to the Deputy Registrar, High Court of Johor Bahru, before 9.30 am on the day of the auction of a letter from the behalf of another person, statutory bodies or companies who confirmed that he had been authorized to represent them for the offer and sign all relevant documents to purchase the property at public auction. For the Malay Reserve Land is only the Malays are allowed to act as an agent or representative.

• Bidder or purchaser must identify the property and the particulars of the property is appropriate.

• Deputy Registrar is responsible for ensuring that information about the property as provided in this auction is accurate.

• The court has the right to retain any deposit of 10% of any bidder who did not make an offer for a period of two (2) months.

• The court has the right to disqualify any bidder if the bidder is to make transactions via telephone during the auction process.

• Plaintiff reserves the right to bid at the auction and if it becomes a buyer, shall refuse the purchase price the amount due on the mortgage at the date of the sale together with costs and expenses of the sale.

• Offer can not be less than the reserve price fixed by the Deputy Registrar, High Court of Johor Bahru in the auction and no bid may be withdrawn.

• Subject to the reserve price, the highest bidder, if authorized by the Deputy Registrar, High Court of Johor Bahru will be the buyer and the Deputy Registrar has the power to reject any bid. If there is any dispute that arises with respect to the highest bidder, then it would be at the discretion of the Deputy Registrar to re-sell and auction or the Deputy Registrar shall decide the dispute. Any decision by the Deputy Registrar is final.

• Plaintiff shall prepare and furnish to the Deputy Registrar and the defendant / mortgage provider as soon as possible after the auction date a statement of fees payable to the date of the auction on Form 16Q.

• Buyers must sign a Memorandum of Understanding under these conditions. If the purchaser fails or refuses to sign the Memorandum, the deposit 10% reserve price will be forfeited by the court and paid to the plaintiffs after deducting all the expenses of the sale. Buyers who fail to make payment does not qualify to buy property and the property will be withdrawn from sale. The plaintiff has the right to claim from the defaulting buyer any costs, including costs of resale together with either the purchase price (if any) due resale, whichever is applicable.

• If the buyer stops the payment of 10% of the reserve price the property will be withdrawn from sale and the plaintiff has the right to claim from the defaulting buyer any costs, including costs of resale, along with a reduction in price (if any) resulting from the resale or nothing resale, whichever is applicable.

• Plaintiff is entitled to claim from the defaulting purchaser an amount equivalent to the deposit after deducting all the expenses of the sale.

• Plaintiff shall be completed immediately or not later than 14 days after the auction day including all expenses of sale and the auctioneer's commission court.

• The balance to be paid by the purchaser to the plaintiff within one hundred twenty (120) days from the date of sale of bank drafts. If the buyer fails to comply with these requirements, the deposit will be forfeited by the court and paid to the plaintiffs after deducting expenses of the sale and the property will be auctioned again. Any deficiency in price (if any) that may be caused by the resale of the purchase price if no resale may be recoverable from the defaulting buyer.

• The completion date can not be extended in any circumstances.

• Immediately after the final hammer beat, the property shall be the responsibility of the buyer. Deputy Registrar or the plaintiff will not be responsible for any loss or damage caused by fire or other accident or otherwise.

The plaintiff or solicitor shall:

• Confirm in writing to the Deputy Registrar immediately after receiving the purchase price, and to Deputy Registrar of a statement of accounts of receipts and payments (together with the receipt) within 30 days of the purchase price received by him.

• Plaintiff shall within 14 days after receiving the purchase price, pay all rentals to the Authority or Lessor (if the charge is a mortgage) and other expenses (including land tax and doors) to be paid to the Authority State or any of the recent Local Government until the completion of the purchase price of the property.

• Plaintiff shall provide copies of receipts for payment of these expenses on to the purchaser or his solicitor within 14 days after receiving the purchase price.

• Plaintiff shall within 14 days after the auction to the buyer or his solicitor a copy of the certified copies of orders placement (if any), Transfer Form and Form 13 of the Companies Act 1965 (if any) and other documents (including stamp duty and registration fees) to the buyer to register the Certificate

• Sales and Form 16F with the relevant Land Office.

• Subject to clarification of the commission to court, after paying the purchase price in the period, the Purchaser shall be entitled to receive from the Deputy Registrar of the following documents within 14 days from the date the plaintiff received the purchase price: -

• Sale Certificate in Form 16F that may be registered provided by the buyer and the original copy of the issue document of title to the property or issue a title document was printed by a computer or a duplicate copy of the lease, whichever is applicable, and the duplicate copy of the charge.

• If there is balance of the purchase price after deducting from the purchase price, all the expenses of the auction, the plaintiff shall deliver the balance to the defendant within 14 days from the date of completion.

• The property is believed and shall be deemed to be correctly described and are sold subject to all easements, caveats, tenancies, liabilities (if any) that existed on or against it arising to define the same respectively, and no error or misstatement description of one will cancel the sale and no compensation will be made.

• The Plaintiff does not undertake to deliver vacant possession of the property to the buyer.

• Any arrears of quit rent and land tax shall be paid from the date of the purchase price of the auction. Other charges related to the transfer of the property shall be borne by the Purchaser.

• This auction is subject to the Act 1104/01 which came into force on 12.1.2001 if the Form 16F which is given to the buyer, any requirement to obtain consent of the State Authority with respect to restrictions on the interest of the property is not applicable, as stated in the in section 301 of the National Land Code 1965.

• In the event of any conflict, the fact that one or errors in the translation of other languages on the details and conditions herein, the language version shall prevail.

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