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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.

The Jewel of Changi


Here is another another reason why Tampines Court deserves a much higher reserve price. We are just 8 MINS AWAY from the next big thing in the east.  We sit on  prime land - lets not give away our jewel for the price of a few beads. 

I hear nothing but negative things about why we should settle for this horrendous RP, the usual gripes. 

Namely:
  1. The electrical station is about to blow and owners will be saddled with a $6 million dollar bill to replace it.  
Well, the station was ready to 'blow up' in Rd 1 & Rd 2 and.,naturally, it didn't. If and when the day comes for owners to repair/replace the station then we will not only have 560 units to share the cost but we have a sinking fund as well. That is what a sinking fund is for. SPs should think about topping up this sinking fund regularly and painlessly to keep it healthy rather than fretting about the future.  I would rather fork out $10k to bring our electrical system up to scratch than lose $300k through a misguided enbloc and downgrade to an even older condo (with the same inherent problems) or HDB!  


New condos are worse - they are chiefly glass and steel and look to 10 years hence and watch the number of falling glass balconies and ENTIRE living room walls falling from the skies.  And by the way, don't think you can turn and sue the Developer, Main Contractor or Architect for their poor workmanship - no,  the High Court in March 2016 has made it clear that the onus is now on the owners to chase sub-contractors!

"The Seaview, which was completed in 2008, comprises six blocks with a total of 546 units. In a suit filed on behalf of homeowners in 2011, the MC alleged many defects in the common areas, including foul odours, falling concrete and popping swimming pool tiles"
"Three defendants - the developer, the architect and the main contractor - are largely off the hook for negligence claims following a landmark ruling on construction liability by the High Court."
"To pursue the negligence claims, the MC will have to go down the chain to sue the sub-contractors responsible for the design or construction of the development."

Be happy you live in a SOLIDLY BUILT pre-1995 estate, with real concrete walls, large common spaces and privacy. 

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