This article is based on Trinity Auction Property Malaysia , we assumes no responsibility or liability for any errors or omissions in the content of this article.
RUMAWIP Secret in Buying Completed RUMAWIP Through Auction
Based on the link above, RUMAWIP is no longer to be auction off. The attempt to get a completed RUMAWIP project is no longer an option due to no consent will be given by the local authority (not stated in the FB posting specifically which local authority)
RUMAWIP Purchaser Benefit
This means if a RUMAWIP owner default on his/her mortgage payment; the property can’t be auction off and technically the RUMAWIP unit is still under the loan defaulter’s name. He/She basically can stay in the house for FREE as the will not be a court order to vacate the tenant!
The Million Ringgit Question
Is this an individual case if it is true? Or does it apply to all RUMAWIP (currently known as Residensi Wilayah Keluarga Malaysia)? This is truly an important question to be answer in the coming days by Kementerian Wilayah Persekutuan as the bankruptcy rate is expected to increase. This is probably the most interesting topic in Malaysia relating to real estate in 2023!