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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.

The Law Ministry replies -

The Law replies:

How to deal with pesky en blocs
Today - 23 Dec 2008

This was one of the first things I highlighted in my pitfall no 2: people have the power to dissolve the sale committee anytime in the process by convening an AGM/ EOGM and passing an ordinary resolution to dissolve the SC .
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Ordinary resolution: the motion can be passed by a simple majority of SPs present (in person or by proxy) at the meeting.
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Dissolving the sale committee does not necessarily stop the en bloc process. It depends on when it is done.

Dissolving the sale committee before CSA signing will probably put an end to the en bloc process and any new attempt would have to start again from square one. (my opinion)
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Once signature collection has begun the sale committe has one year to reach the 80%, failing which it is automatically dissolved.

Can the sale committee be dissolved once the signature collection has begun? Sure, but as we have seen from Horizon Towers; it doesn't change a thing. Dissolving or changing the sale committee does not release the owner from his contractual obligations.
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A loophole, a headache 
Today - 19 Dec 2008

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Just leave me alone!
Today - 16 Dec 2008.
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An owner showing her frustration at the fourth attempt to en bloc her estate.
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Thankfully, no new en bloc attempt has been made here in Tampines Court, not even a whisper of one in the wind. The estate reverberates with the sound of renovation works; people are getting their homes back in order. Every other day you see yet another old sofa set / bed set at the dustbin centre; its out with the old, in with the new.
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Other than a few people who may still feel somewhat aggrieved, there doesn't seem to be any real damage done to Tampines Court's neighbourly relationships. Everyone is carrying on as if nothing has happened, it's all water under the bridge and that is the way it should be. Two of my immediate ex-majority neighbours are renovating bathrooms, changing doors; obviously content to stay and house-proud enough to make big home improvements. Having had a close shave with enforced 'downgrading' and 'downsizing', we can all appreciate our spacious and windy homes even more now.

1 comment:

  1. Yes, it might take soe time. TC is not in the same league as Laguna Part or farrer court. TC is within HDC estate, considered neighbourhood condo while the LP and FC are in sought after locations.

    December 19, 2008 6:28 AM

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