Settle the Balance & Take Ownership
Unlike sub-sale properties where the seller hands over the keys, auction properties require you to take proactive legal steps to secure the premises, evict any remaining occupants, and transfer the master title into your name.
- Full Settlement: Ensure your financing bank disburses the 90% balance to the assignee bank before the deadline to prevent deposit forfeiture.
- Apportionment Claims: If the POS states the bank absorbs outstanding quit rent, assessment, or maintenance fees, your lawyer must submit the official receipts to the bank for reimbursement before the deadline.
- Vacant Possession (Getting the Unit): The bank does not provide keys. Once the property is 100% paid and legally transferred, you (or your lawyer) must issue a notice to any occupants to vacate, or hire a locksmith to enter an empty unit.
- Title Perfection: Your lawyer will execute the Memorandum of Transfer (MOT) to register your name as the legal owner at the Pejabat Tanah (Land Office).
Need Help with Vacant Possession?
Dealing with a stubborn previous owner or a locked, abandoned property can be stressful. Our post-auction support network can guide you through the legal eviction process, locksmith coordination, and property rehabilitation.
Settlement & Ownership FAQs
How do I get the keys to my auction property?
The auctioneer and the bank do not possess or provide keys to auction properties. Once you have fully settled the 100% purchase price and received the legal Certificate of Assignment, you must visit the property with a locksmith to drill the locks and secure the premises with new padlocks.
What do I do if the previous owner refuses to move out?
Do not use force. You must instruct your lawyer to issue a formal Notice of Demand to vacate the premises. If they still refuse to leave after the notice period, your lawyer will apply for a court eviction order (Writ of Possession), and court bailiffs accompanied by police will physically execute the eviction.
Will the bank pay for the outstanding maintenance fees?
It depends on the Proclamation of Sale (POS). Some banks absorb outstanding maintenance, quit rent, and assessment up to a certain limit (e.g., maximum 10% of the reserve price). This is called "Apportionment." If permitted, you must pay the management office first, then submit the receipts to the bank for reimbursement before the settlement deadline.
When can I start renovating the house?
You should only begin cleaning and renovating the property after the 90% balance has been successfully disbursed to the assignee bank, the property has been legally transferred to your name, and you have secured peaceful vacant possession.
