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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.

If at first you don't succeed.....

Recently Marine Point went  before the Strata Titles Board, and there was some question raised about the Valuation.

ERA was the marketing Agent for Marine Point

The story (as far as I know, though I have to doublecheck):
Valuer (A) did a Valuation report at the close of tender of the sale.
The Valuation was higher than the Proposed Sale Price
There was a Supplemental CSA and a new tender.
They wanted Valuer (A) to lower his valuation but he refused because he felt his first valuation was correct.
So, the Sale Committee got Valuer (B) to do a fresh Valuation and this, they claimed remained sealed and unknown until the close of the second tender.
When they opened up this second valuation they found it to be just right and the sale could then go through!

It must have been magic!  It just shows, if you wish hard enough for a perfect match between valuation and proposed sale price, and are prepared to pay for repeated Valuations  and cross all your fingers and toes, and swear in court that you didn't influence the outcome in any way, then your wish will certainly come true!

Could this be Tampines Court's fate?


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