KiasuParents - Parenting in Singapore

There is an pte apt on auction sale advertised in the classified ads.

Can someone advise me what is an auction sale abt? What possible reasons lead to an auction sale? Is it advisable to buy an auction sale apt (from Fengshui pt of view, esp)? TQ for the inputs.

An auction sale is usually a mortgagee sale, the mortgagee being the bank financing the property bought by the current owner/borrower. Likely reason for the bank to want to sell the property would be that the owner/borrower has defaulted on the property loan. An auction sale may help the bank fetch a higher price? or maybe it is just a more transparent process for the bank.

As for fengshui, my mom used to tell me not to buy properties that are put on mortgagee sale... Anyway, many years ago, we were looking at some of these properties, and an interesting thing that I noted was, many of these properties have the house number as #xx-01. Good fengshui or bad fengshui, you judge.

Thanks, Busymom.

We went to view the apt. Very well maintained and the furnishings are good quality. Very hard to associate it with bad publicity. So I asked the agent. Her response was the owner wanted a more transparent process via interested party bidding.

Sometime ago, we went to view a condo apt. Neighbour's door was splashed with white paint! So shocked to see such incidence in a condo.

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