Disclaimer






"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.

MINORITY OWNERS OF TAMPINES COURT

The 80% has been reached. It was never in doubt after the RP was raised and the news of Rio Casa & Eunosville's jaw-dropping sales broke. There is no doubt that price achieved by recent ex- HUDCs has been very exciting, and expectations are now high that TC can join in the party. The sale committee  have the task of making those expectations come true. 

Those who did not sign (and I am one) have done nothing but exercise their statutory right of refusal. We owe no one an explanation or apology. We are now the official Minority and that in itself is a good place to be.   20% = 112 units - no small number even if we are called the Minority. This figure  is not static and will be updated in the column on the right periodically

REMEMBER: NO ONE NEEDS TO SIGN THE CSA FROM NOW ON. 
THE LAW REQUIRES 80% ONLY AND NOT A UNIT MORE. 

The sale committee does not need your signature in order to proceed with the sale.  It is of no benefit to you to sign.

Do not believe anyone who tells you:
  • The 80% has been reached, everyone must sign now (Round 1 tactic)
  • If we get 100% we don't need to go the the STB (true but there will never be 100% in this estate)
  • If you sign you will get the money faster (rubbish)
Being in the Minority means:
  • You retain all the rights to your property - until the sale is finalised at the STB/HC.
  • You retain your right to make an objection at the STB/HC
  • You can still attend and vote at any EOGM/meeting for SPs
  • You are free from legal & financial  consequences should a conditional sale collapse.
  • The sale committee have a duty of evenhandedness to treat all owners the same. 
  • The Minority cannot be penalised for exercising their statutory right.

Being one of the Minority does NOT mean you are against the collective sale, only that you have chosen not to sign the CSA to date.
Minority is not synonymous with Objector at the STB.
The Minority should not be vilified or bullied by the triumphant Majority and vice versa
The Majority have accepted that they have rescinded their right to object to a conditional sale should some unfortunate event occur.
The Minority are the the Majority's only emergency break should they ever need one.

Remember Round 1 when 39 Minority owners stopped a disastrous sale, much to many of the 460 Majority owners' relief. Some Maj. owners were dismayed as they had already bought new homes in expectation of the sale being approved. A lesson to be learnt there.

The 'Second Period' has begun; let's all move forward and see what the future brings.

26 comments:

  1. Anonymous02 June, 2017

    They are still asking people to sign even after reaching 80%.

    ReplyDelete
    Replies
    1. Anonymous02 June, 2017

      Haha! From yr 20% now reduced to 18.01%. I hope it will keep reducing. Not everyone think like you lah. No need to write long long grandmother story to influence those who have not signed. You think people don't know all these meh? They are smart enough to make their own decisions lah. Try harder lor. Lol.

      Delete
    2. Anonymous02 June, 2017

      Nothing wrong with that.

      Delete
  2. Anonymous02 June, 2017

    There is too much resentment and hatred in your post.

    Noone is saying pro enbloc is triamphant nor minority is bullied. This is created from your own mind. If you insist to create devils out of everything then you will be scared even to wake up.

    ReplyDelete
  3. Anonymous02 June, 2017

    Are you sure when you said " ...much to the 460 Majority owners' relief." ? In fact many are dissapointed. Some even bought a unit thinking it will go through.

    ReplyDelete
  4. Anonymous02 June, 2017

    It is necessary. Because on reaching 80%, there may still be issues with some or those who withdraw within the cooling period.
    If that happens, it will be then be below 80% legally.
    So it is much better to have more signatures before the closing date.

    ReplyDelete
  5. Anonymous02 June, 2017

    Shouldn't you change yr logo to reflect only 18.01 %, who knows later must changed again. Lol. No one can forced you to sign & you also don't represent the minority anyway. Why must use the word 'We' instead of 'I' ? Want to fight, fight your own battle lah. Lol.

    ReplyDelete
  6. Anonymous02 June, 2017

    The Minority should not be vilified or bullied by the triumphant Majority.
    The Majority have no right to object to a conditional sale should some unfortunate event occur.
    The Minority are the the Majority's only emergency break should they ever need one.

    ===> Let me re-word your statements, in a fairer light (feel free to delete if you're not happy with this post)

    The Minority should no feel vilified or bullied when the Majority has done nothing except exercised their statutory right to sign.
    The Minority has no right to object a conditional sale should nothing unfortunate occur.
    The Majority are the Minority's only emergency break for getting ENORMOUSLY rewarded despite refusal to sign.

    ReplyDelete
  7. Anonymous02 June, 2017

    Hundreds of dreams about to take off, thousands if take into account spouses and children ..with en enbloc money potentially becoming cushion from which dreams can arise...

    Isn't it beautiful when you know you are helping others realise their dreams?

    ********

    Mark Zuckerberg's Commencement address at Harvard

    May 25, 2017

    .. Look, I know a lot of entrepreneurs, and I don’t know a single person who gave up on starting a business because they might not make enough money. But I know lots of people who haven’t pursued dreams because they didn’t have a cushion to fall back on if they failed.

    We all know we don’t succeed just by having a good idea or working hard. We succeed by being lucky too. If I had to support my family growing up instead of having time to code, if I didn’t know I’d be fine if Facebook didn’t work out, I wouldn’t be standing here today. If we’re honest, we all know how much luck we’ve had...

    Source :
    http://news.harvard.edu/gazette/story/2017/05/mark-zuckerbergs-speech-as-written-for-harvards-class-of-2017/

    ReplyDelete
  8. Anonymous02 June, 2017

    You edit yr text after I rebut yr argument and dare not even post mine. That's not a very gentlemenly way of debate leh. Selective posting and editing your text after rebutted by yt opponents does not reflect on yr credibility. Lol.

    ReplyDelete
  9. Anonymous02 June, 2017

    Since when you are spokesman of the minorities? You already said you are not legally trained & will only lead them to disasters. You dont want to sign no one can force you, just speak for yourself lah.

    ReplyDelete
  10. Anonymous02 June, 2017

    You urge those who have not sign not to sign stating "It is of no benefit to you to sign." You know this to be untrue. If the percentage of people signing is high, more developers will be interested. There will be a higher chance of a bidding war and therefore higher prices.

    ReplyDelete
    Replies
    1. Anonymous03 June, 2017

      More developers will be interested. There will be a higher chance of a bidding war and therefore higher prices. Well it could also backfire as developers may think that since so many people are so keen to sell off Tampines Court they can bid lower and therefore lower bidding prices.

      Delete
    2. Anonymous03 June, 2017

      OMG Your thinking is very warped! and I am guessing you are one of those who have yet to sign. We are talking about developers bidding against each other and not against the estate. the estate already has a RP set. They can bid below RP...however they are simply wasting their time as the estate will not be sold below RP and other developers might bid higher. More developers show up means higher chance of bidding war and more $. I pray you become more clear headed and realize what the majority has already realised.

      Delete
  11. Anonymous02 June, 2017

    Yr logo showing 20% is misleading. The latest update is 82.16 % has signed. Which means monority is now only 17.84 %. Please update yr logo also to avoid misleading the readers.

    ReplyDelete
    Replies
    1. That is just a static pic from the web, not meant to be dynamic - but since you want a more accurate representation I shall make a pie chart and update it from time to time. I shall find a different pic for the post opening. No intent to mislead.

      Delete
    2. Anonymous02 June, 2017

      I think this also need to change " 20% = 112 units - no small number even if we are called the Minority." If u are are going to present any facts, it got to be accurate and updated accordingly whenever there are any changes. Leave no room for any unnecessary misunderstanding or conflicts. Thks !

      Delete
  12. Anonymous02 June, 2017

    You are right to say that " Minority is not synonymous with Objector at the STB." Those who don't sign have their reasons for their decision & we respect that. They are not necessary against enbloc or be an objector at later stage. But your posting implies that there is so many advantages being a minority. This is not necessary true because if this enbloc failed the minority will also suffer as they may have plans for their future if they have gotten the proceeds from the enbloc. I think you should not influence the minority in any way through the way you write, knowingly or unknowingly. You dont have to give any reason for not signing but please leave the minorities alone to make their own decision without any external influence.

    ReplyDelete
    Replies
    1. Anonymous03 June, 2017

      Itshometome reputation as an anti enbloc precedes her. It's reasonable to expect her to advocate minority issues as one would expect TC Enbloc FB to strongly rally all SPs to sign.
      This Blog has relevance, informative and interesting contributions from readers. Blog owner willingness to publish sometimes personally invective comments attests to her courage and evenhandedness. Love or hate her you got to admire the grace, guts and dedication to her cause.

      Delete
    2. Anonymous04 June, 2017

      This blog will be boring if only allow one sided comments. It's good this blog is open to all comments & views from both pro and anti-enbloc SPs & we must appreciate the blog owner's freedom of speech thinking. You are also welcome to go to the official TC FB to express your views ao long as the discussions are in good spirit and there are no vulgarities, personal attack & baseless allegation. We all would love to hear your valued opinions though be prepared to have someone to disagree with you. C u there soon ?

      Delete
  13. Anonymous03 June, 2017

    Actually there are lots of benefits to be in the majority. Just don't want to say as this kind of argument is unhealthy and destroy relationship as neighbours to each other. Just make your own decision & don't influence others to be on your side.

    ReplyDelete
    Replies
    1. Anonymous04 June, 2017

      I don't see the benefits other than contributing towards the necessary 80% threshold. It's never good to tie yourself down to a contract with terms and conditions. Those who did not sign will reap the same benefits if the sale materialises but are free from obligations if it turns sour. Everybodies interests are protected by law regardless of whether you signed or not.

      Delete
    2. Anonymous05 June, 2017

      Of course, every decision you make have certain risk, so long as it is calculated, I think it's fine. Even marriage is also a contract, but you did signed didn't you unless you are not married. If everyone has 'play safe' attitude like you, there won't be any enbloc in Singapore and we will kena stuck and stay in TC until the lease expired and our value become zero. We need to adsorb certain risk to move forward. In any case, we have engage the lawyer to protect our interest. Dun worry too much. Life is too short for that. For one thing, if ever there's a dispute between majority and minority or objectors (which I hope not), who you think got more support and resources to fight each other ?

      Delete
  14. Anonymous05 June, 2017

    There are always people who want the free ride - have the chance to skuttle the deal, not need to pay the $250 or other legal fees if this goes to court etc. But you never know whether a new decision will come if you didnt sign that the courts deem equitable. You may get to keep your $930k house while the majority goes with $2m. Never know.

    ReplyDelete
  15. Anonymous05 June, 2017

    "...It's never good to tie yourself down to a contract with terms and conditions. Those who did not sign will reap the same benefits if the sale materialises but are free from obligations if it turns sour..."

    Sound fair to get same payout but "free from obligation and not tied down to term n condition .." ??

    Smart or selfish ??

    ReplyDelete