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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.

CAIRNHILL HEIGHTS










The buyer pulled out 20 days before completion, forfeiting the $2.2 million in deposit. This prime freehold property was completed in 1990 and is comprised of 20 units only. There was at least one minority owner who took his case all the way to High Court but lost in November 2008.
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I wonder if this will be the lucky fate of Gillman Heights - will the buyer pull out of that transaction, too?
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Straits Times - 20 Feb 2009

2 comments:

  1. It all depends on whether their developer has more "honour" and "moral obligation" to reciprocate the good faith that has been displayed by the sellers. Keep fingers crossed, guys.

    ReplyDelete
  2. In Singapore, it is always about money. Morality never enters into it.

    ReplyDelete