This Service Policy explains the services provided by Property360.my (“we”, “our”, “the Website”) and outlines the responsibilities, charges, and procedures applicable to general real estate services as well as auction (“lelong”) support services. By using our website or engaging our services, you agree to this Service Policy.
1. Scope of Services
Property360.my operates as an online platform that provides:
- Property listings (subsale, rental, new projects, and auction units)
- Market insights, tools, and resources
- Lead generation to connect users with registered real estate agents or developers
- Auction assistance services for users seeking to purchase properties via auction
We are not a real estate agency unless otherwise stated. All agent-related services are provided by registered, licensed estate agents or negotiators under BOVAEP.
2. General Real Estate Website Services
Property360.my provides the following general services:
2.1 Property Listings
We display listings sourced from:
- Real estate agents
- Developers
- Marketing partners
- Publicly available auction notices
We strive to ensure accuracy but do not guarantee the completeness or reliability of listing details.
2.2 User Inquiries & Agent Connection
When you submit an inquiry:
- Your details may be forwarded to a licensed agent, negotiator, or developer representative.
- They will contact you directly to assist with viewing, consultation, or transaction matters.
2.3 Tools & Market Information
We may provide:
- Price estimations
- Auction guides
- Market insights
- Financing information
These are general informational tools, and users should always verify with relevant professionals.
2.4 No Agency Relationship
Using our Website does not create:
- A client–agent relationship
- A contractual relationship
- Any legal obligation on our part
All transactions are between users and the appointed real estate professionals.
3. Auction Services (Lelong Services)
Property360.my offers specialized auction support services to help buyers participate in property auctions. These services may be provided directly or through professional partners.
A. Services Provided Before Auction
We typically assist auction buyers with the following:
- Conduct market research for the auction unit.
- Check occupancy status (vacant or occupied).
- Check for outstanding fees (quit rent, assessment, maintenance fees) and whether they are waivable by banks.
- Verify title status and determine the type of transfer (title-ready, deed of assignment, etc.).
- Check for caveats or encumbrances.
- Check for restrictions, obstructions, or conditions affecting transfer.
- Assist in document preparation required to participate in the auction.
- Register the client for the auction.
- Bid on behalf of client during the auction (with written authorization).
B. Services Provided After Successful Auction Purchase
If the client wins the bid, we continue assisting with:
- Coordinating with a law firm for SPA, MOT, and legal paperwork.
- Connecting client with bankers for loan application and financing.
- Assisting with key collection or arranging a locksmith if necessary.
- Assisting with eviction court orders if the occupant refuses to vacate.
- Connecting the client with trusted contractors for repairs, refurbishment, or renovation works.
- Assisting with reselling or renting out the unit for the client.
4. Auction Charges and Fees
Auction services and charges may vary case by case. However, the standard pricing structure is as follows:
4.1 Deposit Requirement
A 10% deposit of the auction reserve price is required to participate.
- This is fully refundable if the client does not win the bid.
4.2 Loan Eligibility Check
Clients must confirm loan eligibility before proceeding.
To assist, clients must provide:
- IC (front and back)
- Latest salary slip
- Recent income tax form (e.g., EA Form or Form J)
4.3 Pre-Auction Administration Fee
Once loan eligibility is confirmed, a RM500 administration fee is required.
This covers:
- Land office search
- Document handling
- Auction preparation
4.4 Service Fee After Winning Bid
Upon winning the auction:
- A 2.5% service fee of the final purchase price applies
OR - A minimum of RM3,500, whichever is higher.
This service fee covers auction handling, research, bidding, advisory, and post-auction coordination.
4.5 Authorization for Bidding
Clients must provide an appointment letter giving us permission to bid on their behalf.
(We will supply the required format.)
4.6 Legal Fees
All legal costs related to transfer of ownership (e.g., SPA, MOT, stamp duty) are borne by the purchaser, unless otherwise stated in the auction proclamation of sale.
5. Client Responsibilities
Clients agree to:
- Provide accurate and truthful information.
- Ensure sufficient funds for deposits and fees.
- Verify loan eligibility and financing approval.
- Understand risks associated with auction properties (sold “as is, where is”).
- Acknowledge that interior unit inspections may not be possible before bidding.
- Review the Proclamation of Sale (POS) and Conditions of Sale for each auction.
Property360.my is not responsible for:
- Hidden defects
- Outstanding bills not covered by the bank
- Legal disputes, encumbrances, or restrictions unknown prior to auction
- Bank loan rejection after winning the bid
6. No Guarantee of Auction Outcome
We do not guarantee:
- Winning the auction
- Successful financing after winning
- Property condition, legality, or suitability
- Removal of caveats or restrictions
- Waiver of outstanding bills by banks
Auction properties are purchased at the buyer’s own risk.
7. Payment Terms
All payments must be:
- Made to the designated account
- Made before deadlines
- Accompanied by official receipts
Refunds (if any) follow the terms of the auction house or relevant financial institutions.
8. Limitation of Liability
Property360.my is not liable for:
- Losses from unsuccessful bids
- Bank loan rejections
- Legal complications discovered after purchase
- Hidden defects or property conditions
- Misrepresentation by third-party agents or owners
- Any decisions made based on information from our Website
Clients engage in auctions at their own risk.
9. Amendments to This Service Policy
We may update or amend this Service Policy at any time.
Continued use of our Website or services indicates acceptance of the updated policy.
10. Contact Information
For inquiries regarding this Service Policy, please contact:
Property360.my Support Team
Email: Info@property360.my
Last Updated: 18 November 2025