Disclaimer






"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.

Taiwan gets it right


'Under the scheme, home owners will get brand new apartments of the same size at no cost, as well as rental allowance from the developer while their new homes are being built. Developers profit from selling the excess units.'


14 comments:

  1. hmmm... I still prefer to have control over my own money.

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  2. Those who want cash should be given cash, and those that want a replacement unit should be allowed to get one. Two options better than one.

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  3. hmmm... we should learn from them.

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  4. Sounds good.Get the collective sale started.
    Maybe blogger can lead. Either cash or replacement unit is ok.

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  5. hmmm... let's see their success first. replacements if not administered well, will lead to many issues. i still like the certainty of cash in my hand.

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  6. My role is devils advocate - I am not pro-enbloc.

    My home is my castle and everyone can keep their grubby en bloc hands off it!

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  7. your home will be gone if 80% decides to sell... having said that, i would say TC does not have any enbloc potential now.

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  8. "Seperti katak di bawah tempurong" - malay proverb which means living "like a frog underneath a coconut shell", not open to new environment and opportunities that enbloc can bring to your life. I used to own one Farrer Court, now I have 3 "castles" in Singapore, including two in Tampines Court and 6 more in Malaysia, thanks to Farrer Court enbloc. Life in a new environment can be better if we are willing to think outside our box/shell/castle!!!

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  9. Farrer Court had 100% owner approval.
    No casualties, only happy campers.

    I hope you have not turned into an en bloc raider,; buying only to turn over a profit. Happy to turn people out of their homes to enlarge your property portfolio.

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  10. correction: Farrer Court did not get 100% and ended up at the STB.

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  11. 618 units
    2 objectors mediated at the STB without fuss.
    All newspaper articles can be fund under En bloc estates on the right.

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  12. Yes, not 100%.

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  13. Unless you are desperate for cashflow (ie, need cash immediately because of debt or health issues), a 1-4-1 en bloc exchange also offers an option for FUTURE CASH-OUT.

    Example 1: After TOP of the redevelopment, the en bloc owner who opted for exchange could sell new unit in resale market. Whilst the property market may go further up or slide down between (i) en bloc vacant possession and (ii) redevelopment TOP, the risk is a calculated one based on the en bloc owner's market view.

    Example 2: After moving back to the redevelopment and staying there for another decade or two, the en bloc exchange owner could then monetize a more valuable asset for eventual retirement whilst retaining the inflation hedge offered by such asset. Eg, by 2030, the value of a redevelopment on this choice location would have kept pace with inflation index.

    If you know how to do your sums AND you are not desperate for immediate cash, 1-4-1 exchange would be a BETTER DEAL based on:
    - (a) SAME floor level,
    - (b) SAME strata title area, and
    - (c) SAME geographic orientation of living room main window.


    Terms and conditions for en bloc 1-4-1 exchange are documented in a BACK-TO-BACK Sale & Purchase Agreement (complete with architectural lay-out plan) BEFORE you sign the Collective Sale Agreement.

    Think thrice BEFORE you agree to any en bloc offer because you stand to lose the crown jewel of your asset portfolio. No point crying over spilled milk afterwards.

    As Homer Simpson said: "Beware of the power of stupid people in large groups!"

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  14. The Taiwanese are able to carry out such a scheme is because the government looks after the interests of everybody, the developer, the owner, the agents, etc. In Singapore, the minority has no property rights.

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