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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.

Tilting at Windmills

There was a dialogue session with owners on July 28 and to date we have not seen any minutes of this meeting on the notice board. I am only now getting a little feedback on what transpired. 

I believe one issue raised by a SP in the estate was that the end staircase of block 123 was tilting.  

Fiddlesticks. As an owner who uses that particular staircase every day of my life I can say that I have never noticed such a tilt - if it indeed exists. And what was this SP implying anyhow?  That our HDB-built estate is structurally unsound?

I hope the managing agent might come out and assure all SPs that Tampines Court is as solidly built as all the other HDBs that surround us; that minor imperfections, if they are found to exist, are nothing to worry about.

What other points were aired at that meeting?  We are well used to scare tactics, but really this one sounds like desperation to me. Tilting staircases? More like tilting at windmills.

2 comments:

  1. The first time it was the apron was sinking. I suppose it is now a progression of the sinking apron. lol

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  2. "Tilting staircase at Blk 123" was mentioned in one of the letters submitted to TC AGM.

    The letters all requesting MC to provide costing of lift upgrading, estate improvement, covered walkways etc. and to be presented in the AGM on 8 Sep 2012.

    Once the costing is released in the AGM, I think this will be used as a scare tactics to pursue TC owners to go for enbloc rather than spending high cost to upgrade the estate. The same tactics was used in 2007.

    I think a better way to convince TC owners is to review the RP to make it in line with the current upward market since the RP is almost 1 year old.

    The current RP is only good if owner intend to downgrade to HDB apartment. The latest 5 transactions of Simei/Tampines Exec apt (142 to 154 sqm) in Aug 2012 are $640,000 to $773,000. (from HDBInfoWeb).

    If owner intend to move to resale Condo, the average resale price of 1300-1500 sqft apartment at Bedok Reservoir Area (Baywater, Clearwater, Waterfront) is about $1.1m to $1.3m. There is very little left with the current RP after deducting lawyer, agent, renovation fees etc.

    I think SC must understand that TC owners had been scared once in enbloc1. We almost collected $720,000 and downgraded to HDB in 2008. The memories are still fresh in our mind.

    This enbloc will not proceed further if the RP remained unchanged.

    The enbloc should allow owners to move (not downgrade) to equivalent housing and with some cash left for investment/retirement/any purpouse in life.

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