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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.

SC Meeting: 26 Feb 2011

SC Minutes 1


The Chairman and Vice-Chairman are old owners; the former is in 'Finance' and the latter a Banker. I do not know anything about the Chairman, but the Vice-Chairman is a  good guy. A former majority owner who was very unhappy with the way round 1 was conducted.

The Secretary is a new owner (bought July 2010)/property agent tasked with inviting marketing agents and solicitors to the ball.  At the EGM, she owned up to owning a HDB and having served on a sales committee before. I believe the estate she mentioned was Glenville which went en bloc in Oct 2010 for $39.5m.
Personally, I would have preferred if the position of Secretary had gone to someone, well, less professionally connected....

I note the two law firms associated with the ex-minority are included in the list of invitees:). 

I do wish they would set up a proper system for SC-Owner feedback. Not only should owners be able to give feedback, they must also be able to view other owners' feedback as well. In other words, the old system of 'writing in' is dead and should be replaced with the internet. It offers a more transparent and open communication channel and owners will not feel isolated and alone in their thoughts/ complaints/suggestions/questions.

The management office/agent is not there to handle SC matters and cannot be involved in the collective sale bar holding the EGMs.

Note to the Secretary:
There are 6 high rise and 8 low rise blocks in the estate.
The low rise blocks have 2 staircases so you will need to print and post 22 Notices in all. Don't miss out on half the low rise staircases, please.

7 comments:

  1. Thank you Very Much for highlighting the missing notices in the low rise blocks. All the notice boards has since been updated with the minutes.

    ReplyDelete
  2. Facebook is a good idea. Once set up, place the notice on notice board so TC owners can be informed of the latest update and if they wish, can be added in as members and give comments.

    There must be a moderator to moderate the contents so that later it won't be degraded into a free-for-all quarrels between the majority and minority owners' as we advance into the enbloc and more objections coming in.

    ReplyDelete
  3. Any moderator of a Facebook account would have a 24/7 job handling comments as the comments are published instantaneously. Unlike a blog, where comments are not automatically published but held in email until the moderator has the time to deal with them.

    ReplyDelete
  4. No need 24/7 moderation. Its just an opinions site, nothing serious or contractually binding as far as opinions are concerned. Whenever you are free can just come in and delete irrelevant or flaming postings. Adding of members are subject to your approval. You can specify only for TC owners or open to general public or relevant groups of people. Its up to you. Consistent trouble makers can be barred.

    I think facebook is be a more exciting & dynamic site and will attract more contributions rather than a blog only which attract only a handful of visitors. Imagine 500 or more TC owners contributing to the facebook. Wouldn't it be a more informative & exciting exchange of ideas rather than a blog ?

    ReplyDelete
  5. But someone has to be responsible for the content of Facebook, someone has to register for the site. And that person will bear the full responsibility in Law if bad things happen.

    You cannot allow indiscriminate postings. What if people posted sensitive information (like the official RP)? What if they said something libelous? The facebook owner would be stressed out censoring comments ALREADY posted.

    I would not like to be the one who runs this Facebook account! Way too dangerous!

    I wish I didn't mention the blasted thing!

    ReplyDelete
  6. On Monday evening I saw a yellow notice for feedback web site for en-bloc SC
    But next day taken out.
    Anyone has any clue?

    ReplyDelete
  7. That was my doing.

    There has to be some rules set about access to the Notice Board. It is part of the common property and should be either accessible to all owners or to none. The LTSA states that the CSC can put up their minutes and meetng times on the Board. But I think the MA/MC should first deliberate whether the CSC can put up other notices and if so, then that right must be extended to any owner, and not just CSC.

    It is a question of being fair and evenhanded in all matters concerning a collective sale.

    I have put this question to the MA/MC and am awaiting their response.

    I hope they will choose "for all" and then the yellow notice can go back up.

    In the meantime, I will post it here on my blog.

    ReplyDelete