Before you jump into the thick of the bidding action, there are five things that you should do. They are:

1.       Inspect the subject property. Although viewing of the auction property is not allowed, prospective bidders can visit the property to see the external condition of the auction property. If in doubt, it is best to seek professional advice. You might also want to talk to try making enquiries with neighbours.

2.       Obtain a copy of the Proclamation of Sale from the Auctioneer. It is essential that you fully understand all the terms and conditions in the Conditions of Sale prior to the auction. Do note that auction sales are usually on a ‘as is where is’ basis. Should there be a tenant on the auction property, the bidder is responsible to evict them and bear this cost.

3.       Do a due diligence check on the official title at the relevant Land Office and all relevant authorities prior to the auction. Check for arrears on assessment tax and quit rent if any.

4.       Check with the developer and/or landowner and/or relevant authorities on the terms of consent or transfer of the sale. Also check for arrears of maintenance fees, service charges, utility bills, etc.

5.       Seek legal advice prior to the bid. It is important that you fully understand all of the Conditions of Sale.