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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.

2nd Draft CSA

Owners received the 2nd Draft of the CSA today - just 4 days before the EGM.

An incomplete / messy document:
  • no Reserve Price
  • Schedule 1: Owners and units:  blank
  • Schedule 2: Method of Apportionment: blank
  • Schedule 3: terms of Appointment of Solicitors: blank
  • Schedule 5: members of the Sale Committee: blank
  • Schedule 6: The Representatives;blank
There was an 'URGENT NOTICE TO ALL SPS FROM TAMPINES COURT SALE COMMITTEE ' dated 09 September, but we only received it on the 20th. Not so urgent afterall?


So, the strata area for individual units is up in the air.  I would have thought the marketing agent/solicitor could have and should have made a better effort at this, seeing as owners cannot decide on important matters until they are sure of their facts.  The very least they could have done is print out  the  list of all units and their strata area as ascertained by them from the SLA in Schedule 1, and owners could then be asked to check for any discrepancy in their lot. As it is, we do not know what figures the MA has and so it may all be just a pointless exercise.

If there is a discrepancy then sure, call your solicitor ( not the en bloc guy, he has said he will NOT deal with individual SPs and their questions) and have him do the checking for you, that is probably the safest thing to do, but if not then this is what I did in less than 15 minutes.

First of all, I know my strata area is 156 sqm because my previous owner had bought 1m of recess area before privatisation and so it is reflected in the deeds. But just for fun I dug around to see if it could be confirmed somehow.

My first stop was INLIS ( Integrated Land Information Service) here
I clicked on the 'Property Ownership Information' for $5.25 in the top left hand column.
I just filled in my unit's information on the top right column and clicked go
I bought the info using my Visa.
It was accessible immediately and I downloaded and printed out a copy. The 3 page pdf showed  Mukim Lot No, property address, Lot area, tenure, lease duration, Proprietor names, IC numbers and  citizenship.

It tallied with my deeds.

The recess area was bought from the HDB, so they too would have a record. Now in 2003, The HDB sent a letter to someone called Mr G. informing the MCST that 305 units in total had bought over all or part of the recess area. They enclosed a list of units under annex A - so I presume the MCST office would still have that list on it's files. I only have the page with my unit number on it.

    2 comments:

    1. sorry, i have not been attending the enbloc meetings. I just receive the draft copy of collective sales agreement. Under the reserve price, it was blank. Can anyone let me know has reserve price been set & how much can 1 unit get ? thank you.

      ReplyDelete
    2. The marketing agent did bandy a RP figure about at the EGM 2 but it has not been confirmed. Because it is supposed to be 'confidential' I cannot mention it on the blog - and I will have to delete the RP from comments if they appear.

      As for how much per unit will get; because his figures did not tally with enbloc round 1, he was forced to do a recheck - and has been unable to establish them up to now. So we do NOT KNOW what the individual strata areas and the total strata area is in the estate and so cannot know what the sales proceeds per unit will be.

      A mess, sir, a real mess.

      ReplyDelete