"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.

Marketing Agents BEWARE

 I believe head(s) rolled at the HSR agency; careers ruined, people sacked.  Complaints were made to the Council of Estate Agents (CEA).

The paper failed to point out that the extra payment made to the 6 minority in the Regent Garden case was not about reaching the 80% consensus level, but  payment to withdraw their objection at the STB, thus clearing the way for the sale to go through.

Mind you, extra payments should not be encouraged across the board. The former Supreme Court judge is quite right in saying "It is necessary to outlaw such behavior as a form of corruption, with possible criminal, as well as civil sanctions". However,  it is also ironic that this same former Supreme Court judge is enmeshed in his own en bloc debacle (Gilstead Court) whereby the CSA was fashioned in a way which effectively penalized the minority for not signing the CSA.  Thereby ensuring an unfair distribution of proceeds - the majority get more, the minority less.  It is actually worse than it sounds; taking money from the minority and divvying it up amongst the majority...  read the media report here

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