Bidders listening attentively as the auctioneer explains the property details.
As the Lunar New Year ushers in new beginnings and prosperity, NCM Co invites property buyers and investors to kick-start the year at the Gong Xi Auction Fair, a one-day property hybrid auction event featuring over 500 auction properties from eight leading financial institutions.
Happening on Jan 28, from 11am to 3pm, at the NCM Co Auction Hall, Megan Avenue 2, Kuala Lumpur, the fair offers buyers a wide selection of properties across various locations and price ranges.
Among the attractive offerings at the fair include:
> 2.5-storey linked house corner lot in Puchong with up to 40% reduction from market value;
> Freehold two-storey terrace end lot at Tropicana Heights, Kajang with a reserve price of RM769,500;
> Prime freehold Anjali condominium in Kuala Lumpur, offered from reserve prices below RM500 per sq ft;
> Kelana Mahkota condominium in Petaling Jaya from RM387,000 for approximately 1,260 sq ft.
To mark the festive season, all successful registered onsite bidders will receive an entry gift, and attendees can also bring home an auspicious Lunar New Year calligraphy, hand-drawn live at the auction hall, symbolising good fortune, abundance and a prosperous year ahead.
An educational experience
While property auctions present attractive opportunities, informed preparation remains key. At the fair, NCM Co places strong emphasis on buyer education, ensuring participants approach the auction process with clarity and confidence.
To support buyers, NCM Co shares a Top 8 Auction Buying Checklist, a practical guide for navigating auction purchases successfully:
1. Read the Proclamation of Sale (POS)
Review the reserve price, auction terms, deposit requirements, completion timeline, and conditions of sale before bidding.
2. Inspect the surroundings (external viewing)
As internal inspections are typically not allowed, visit the area to assess accessibility, neighbourhood conditions, and nearby amenities.
3. Know the market value and act decisively
Compare recent transactions to confirm the property value. If the price already makes sense, delaying may attract more bidders and drive prices higher rather than lower.
4. Check outstanding outgoings
Verify any arrears such as maintenance fees, sinking funds, quit rent and assessment tax to avoid unexpected liabilities.
5. Prepare your deposit and understand payment timelines
Ensure the deposit is ready on auction day and understand the balance payment deadline to prevent forfeiture.
6. Review financing eligibility early
For buyers requiring financing, check credit standing and loan eligibility ahead of time for a smoother post-auction process.
7. Factor in total acquisition costs
Budget beyond the purchase price, including legal fees, stamp duty, loan costs, renovation, utilities reconnection and possible eviction expenses.
8. Speak to NCM Co’s sales advisors
Engage with NCM Co’s experienced sales advisors for free guidance on property selection, auction procedures, and post-auction steps.
By bringing together multiple financial institutions, hundreds of properties and professional guidance under one roof, the fair offers buyers a rare opportunity to make informed property decisions in a supportive and transparent environment.
Whether purchasing for your own stay or investment, this Lunar New Year is the perfect time to turn preparation into prosperity.
For more information on upcoming auctions and buyer resources, visit their website at www.ngchanmau.com or contact them at 03-2162 3333. Explore more auction listings at https://www.ngchanmau.com/mega-202601.
