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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.

Reaffirmation in action

Thinking out of the box.

Here are two estates which will go back to owners for reaffirmation before accepting any bid or offer.

6 comments:

  1. If MA say that " purchaser not willing to wait etc ", it's obvious they are not acting in seller's interest & just want to put psychological pressure on the seller to close the deal fast. Lodge a complaint to CEA.

    ReplyDelete
  2. The reason why the MA ans SC will need to go back to the owners is NOT because there was a re-affirmation clause in the CSA as you prposed. The reason is that non of the the developers can meet the reserve prices.

    There is already a safeguard which is the reserve price and the indenpdent valuation.

    ReplyDelete
  3. The RP is no safeguard when it can be lowered.
    The valuation is no safeguard after the fact.
    The approval for a lower price is not what it seems.

    The 'approval' is not after the bids or offers - I have already made a challenge over this and the answer is quite shocking. Owners just imagine their approval to lower the RP will be sought AFTER the bids or offers are in - but it is not true. I got that straight from the horse's mouth.

    So, in the article it says "we will then go to the owners with the bids" - watch out TC, it's not going to happen like that in our estate.
    Something is afoot.

    ReplyDelete
  4. New home sales soar, despite global uncertainty
    http://imcmsimages.mediacorp.sg/CMSFileserver/documents/006/PDF/20111018/1810HNP004.pdf

    Again, we see prices are still going up. The agreed RP is a BIG mistake!

    ReplyDelete
  5. http://imcmsimages.mediacorp.sg/CMSFileserver/documents/006/PDF/20111021/2110PCC054.pdf
    There is a growing number of people who would press to sell at en-bloc with openly lowered price.

    ReplyDelete
  6. no worries... once the uncertainties catch up with the unsubstantiated euphoria, prices will moderate.

    ReplyDelete