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"I am a BLOGGER NOT an expert. This is a BLOG not a 'go-to' website for official information. I represent no one's view save my own. I have neither legal nor financial training, nor do I have anything to do with the real estate industry. My understanding of the Collective Sale Process is from a layman's position only. My calculations, computations and tables are homespun and may contain errors. Please note that nothing in this blog constitutes any legal or financial advice to anyone reading it. You should refer to your lawyer, CSC or financial adviser for expert advice before making any decision. This disclaimer is applicable to every post and comment on the blog. Read at your own risk."
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There is one thing worse than an Enbloc ----- and that is an Enbloc done badly. Since the majority have the necessary mandate to sell, then they owe it to all SPs to make a success of it. Minority SPs can only watch and wait, if they sell then lets pray it's at a price we can move on with, if they don't sell, then we are happy to stay for a few more years.

That 'earnest' article

Business Times 27 March 2008
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"New rules can’t prevent fights led by greed but tussles should be less explosive," writes the managing director of Credo Real Estate.

"There were also numerous complaints about how the process was handled, claims of bad faith and the railroading of minority interests."

"Disputes in such sales are not likely to go away, even with the introduction of the new laws, as no amount of legislation can prevent disagreements or actions led by greed or dishonesty."


An article written from the perspective of a property agency - who thinks that all disputes are led by greed or dishonesty. Since it is the minority who dispute the sale before the Board, I am assuming the writer is attaching the greedy & dishonest labels only to them. But that is not what you hear from objecting minority owners at the STB. The litany of complaints against the less than honest tactics of property agents is legendary. Yet the blame apparently falls on the gullibility of owners and not on the unethical behaviours of agents. Agents play a pivotal role in enbloc and a closer inspection of their actions is warranted and certain behaviours ought not to be just frowned upon, but banned outright. There is a right way to go about your business and a wrong way. It's time to stop blaming the victim and go after the culprit.
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Please take note that it was this very same agency that brokered the Finland Gardens sale which was rejected by the STB thus:-
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"The board dismissed the application on the grounds that it found there was no 80 per cent majority and that the sale price was not obtained in good faith.’ (Straits Times)
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To be fair, though, they did also broker Farrer Court - "Smooth Sailing"
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"Among them is housewife Shirley Lee, in her 40s. She was full of praise for Credo Real Estate and law firm Rodyk & Davidson which handled the deal.She said: ‘Everything was so fast and smooth. Such a huge estate is not easy to handle. I’m very happy with the sale.‘They kept in close contact with the residents, gave frequent updates, and made us feel more secure, though it’s a lot of extra work for them.’ (Newpaper - 16 Dec 2007)

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