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.

Tampines Court Collective Sale Video



Finally, we have our very own Professional Video as a keepsake.


My Version 1 ,

It's a pity I couldn't figure out how to make my videos slower or lengthen the clips, but hey, I'm just an old lady in a rocking chair learning new tricks.  It was free, too.

One last thought before my departure - I hope many SPs will turn up at the opening of the Tender Box to confirm the number of bids and the bid amounts. If we are to be sold, then let us be sold to the highest bidder. No perfunctory 'due diligence' aka Round 1 please.
We have not seen any Minutes from the SP Meeting held one month ago (they should have been out 2 weeks ago) and so do not have a written record of the MA's Proposed Conditions of the Sale. It is my hope that that sticking to these generous conditions will not be the pretext for accepting a lower bid from a preferred buyer. I can only speak for myself - a single SP, but I would accept reasonable adjustment to any term to secure the highest sale price for all.
For example:
  • I am willing to pay Property Tax as that is the norm 
  • I am willing to pay the MCST fee as that is the norm
  • I am willing to pay for my own utilities etc as that is the norm
  • I am willing to pay a nominal rent to the  Buyer as that is the norm
  • I am willing to remove my furniture & fittings before I leave as that is the norm (though it would only pile up like a mountain of junk at the dustbin centre so it's a no-win situation)
  • I am willing to accept a higher retention sum until vacant possession.
The only condition that I hold firm to is the 6 month vacant possession. This is not an LTSA requirement, but a practical issue affecting many single property owners. It would be foolish to purchase a property before the STB or HC ruling if you are reliant on the sale proceeds only. The only mention of vacant possession is Part VA(2010) 84B.-

(c) a lease affecting any of the lots in the strata title plan (other than a lease held by a subsidiary proprietor) shall, if there is no earlier agreed date, determine on the date on which vacant possession is to be given to the purchaser of the lots and common property.
 
If the SC can negotiate for better terms then well and good. I hope they can keep their eye on the bigger picture - and not get bogged down in minor details. In other words- I hope they don't sweat the small stuff.

Anyway - time for another Hiatus - 
See you all on the other side

CHEERS!

Slán agus Beannacht libh go léir 

39 comments:

  1. Anonymous31 July, 2017

    This is what I called professional sales presentation video, with clear, precise and the right amount of information so as not to give information overload to the viewers. It is also launched at the right time in conjunction with the official opening of Tampines Hub next week.

    Blog owner & those guys who attack the team non stop should apologize to them. It's ok to give constructive criticism preferably by email as any good ideas should be kept among oursellves instead of on public blog. To attack the team without knowing the reason behind their strategy only shows the world how childish and narrow minded you people are. So far did any of the team retaliate inspite of many defamatory statement make against them? . They didn't is simply because they are matured and know that it is important to stay focus on the impotant things they should do now intead of allowing themselves to be distracted by noise.

    Will you be thankful to the team when the enbloc is successful & you are laughing all the way to the bank with millions in your hand ?

    For goodness sake please grow up. We are all part of a big family. Only when we are united and support each other will we be able to see results.

    Like some have said, we are most noisy enbloc because of this blog. Others are so quiet and yet managed t get good price. Empty vessels full of noise doesn't really help does ir ? At times keeping silent is also a strategy.

    ReplyDelete
    Replies
    1. You will be glad to hear I have one month off work and will be 5,000 miles away very soon. This enbloc will be out of sight and out of mind for me :)

      We may be noisy - and don't forget the majority comments like yours which keep coming in non-stop adding to that 'noise' - but it shows we are interested in the fate of our homes and in the actions of our agents. Not all collective sales are put under the microscope like this, I know, but it does serve a purpose.
      Keeping silent, crossing fingers and hoping in the efficacy of our Team may only be wishful thinking. Applying digital pressure has it's results.

      Delete
    2. Anonymous31 July, 2017

      I think you missed the point. 'Keeping silent' especially prior to any product launch is a norm in any marketing. Any marketers will understand this simple tactics. It doesn't mean that SPs should be complecent and not giving any feedback to the team. You have all the team members contact nos and our official feedback email address. It will be better to use this channel of communication rather making so much noise here. Does it help at all except to create tension and division among the SPs and blowing trumpets telling the world how good you are and that you can do a better job than the team. Inevitably also washing dirty linens in public too.

      You really think the team launch this video now because of pressure from you ? Come on, don't kit yourself please. Must they reveal their strategy in this blog just because you make do much noise ? I will be worried if they do.

      If you are so confident than you and all the noise makers can do a better job than the current team you should have form a SC team right from the start and prove to us you are really as good as what you think you are. Where were you when volunteers are called ?

      Delete
    3. Anonymous31 July, 2017

      You are going away? Then who will post our precious comments? The majority SPs demand that you apologise for threatening to close their sole outlet of freedom of speech!

      Delete
    4. Anonymous31 July, 2017

      Number of comments on Youtube video on FB page: 0 (not even 1 like)
      Number of comments on this Blog: 100++ and counting

      Majority SPs only source of outlet is this Blog.

      Delete
  2. Anonymous31 July, 2017

    Have to applaud the MA for putting this video together. However too much focus was about Tampines as a location. Its a pity that there is no drone footage rising up from the actual site and looking towards Changi side...and rotating all round...budget constraint? It would have the view of the airport...the greenery of the golf course and finally the beauty of the SEA...just this shot alone..would be enough to convince more developers to throw their names into the hat. The music was inspiring though. give 60 marks overall.

    ReplyDelete
  3. Anonymous31 July, 2017

    SPs better enjoy this for all its worth - it costs $10m for 3 minutes or $50k per second. And....THEY FORGET THE WORLD CLASS BILLION DOLLAR CHANGI JEWEL!

    But its OK. Lucky beats all.

    ReplyDelete
    Replies
    1. Anonymous31 July, 2017

      Omg ! And paya lebar airbase ??

      Delete
  4. Anonymous31 July, 2017

    A whole 2 months after achieving sale status, with only 2 weeks to close of tender and they now come up with a ho hum video! Was it an afterthought or because of residents pressure? It's of little use to buyers now
    (Commented truncated by Itshometome - and reposted a second time after accidentally posting under my name the first time..

    ReplyDelete
    Replies
    1. Anonymous31 July, 2017

      I believe SPs will be happy to pay you the full commission if you bring our enbloc this far and guarantee us that you will make the enbloc a success. Where were you during the meeting? You could have suggest your "bright" ideas to the team. I guess you are the one hidden behind the pillars like a grumbling timid mouse. No matter what the team do you won't be happy. It is a fact that self righteous armchair critics aka keyboard warriors are known to be the worst performer in life! Talk is cheap!

      Delete
    2. Anonymous31 July, 2017

      In other Enblocs, at this late stage of tender, interested buyers would have completed site inspections, requested for additional detailed information. The more serious prospects would have requested a second viewing of the estate and engaged in final discussion before submission of bids.
      For a 9 million commision, that seems to be MA's expectation, this video is amateurish. In character with this bunch; mediocre, lacks urgency and hopelessly losing the plot. We ought not settle with Huttons 'F' team for an account of this magnitude. Thats the consequences of not doing an impartial valuation. Perhaps it's the flawed selection. Still can't figure why some SPs all Gaga over these underperformers.

      Delete
    3. Anonymous31 July, 2017

      We got here in spite of the team, riding on a wave of Enbloc exuberance.
      I am reluctant to interact with those who fail in their duty of openness and transparency, shows no interest in the value of our land, accede to a $50 mil reduction despite reservations and sacks their most knowledgeable and conscientious member defending SPs interests.
      No, I was not hiding behind a pillar but at work. In any case, from what I read, any suggestion would be drowned in a maddening crowd.
      Many SPs are hopeful of at least a comparable payout with other Enblocs. For TC sake lets hope they're right.
      If we meet, it would be in an official setting where the strength of one's argument will prevail

      Delete
    4. Anonymous31 July, 2017

      TC will have a considerable payout mainly due to good timing.

      But no, I don't think any SP, whether pro or anti enbloc has time to meet in an official setting to argue with you.

      Delete
    5. Anonymous31 July, 2017

      You are reluctant to interact or prefer to be a keyboard warrior hiding behind a monitor to make noise ? If you are sincere in contributing & have really good suggestions I am sure it's not difficult to email the team, is it ? Tell me, so far has any of the noise you make produce any solid result? I am very sure even if the tender was awarded with good payout to us, the noise won't stop. It is just typical character of self righteous keyboard warriors. Bad habits are difficult to change. You can mark my words.

      Delete
    6. Anonymous31 July, 2017

      4.3 and 4.5, stop the squabbling. both are adults about to be multi millionaires, yet acting like kids.

      Delete
  5. Anonymous31 July, 2017

    Actually if the product is good you don't need much selling as it basically sell by itself. And certainly you don't need to make alot of noise as it gives signal to buyers that you are weak and desperate to sell. This is how I size up the sellers & the agents when I buy properties. Usually I won't offer good price once I sense their desperation to sell or oversell than it's necessary. If too much noise I would just walk off. If co-owners start to quarrel and have dis-agreement I would also walk off.

    So noise makers, please go to your playground & play & stop bringing down the value of TC with all your noise and cry & let the team do their job. You think buyers will billions to part do not know how to do their own research meh ? Chey !

    ReplyDelete
  6. Anonymous31 July, 2017

    There are simply too many red indian chiefs here all claiming to be enbloc 'guru' & experts but keep on condeming the team & yet never see them lifting a single finger in helping out in the enbloc by giving tangible support or email useful suggestions & feedback through the proper channel. This blog is making a real mockery of TC Enbloc !

    ReplyDelete
    Replies
    1. I got a feeling the noise maker is the person who wrote the anonymous letter. His or her objective is out to divide the SPs so as to sabotage the enbloc. Divide & rule is the game he is playing. He is trying to create ill feelings between SPs and the team so as to make enbloc success difficult. The only way to beat his or her game is to for us to be united.

      Delete
  7. This blog is just for fun, like a senior citizens HDB corner. We are all waiting for our "time" to be over.

    Looking at the way of writing, there are less than 10 regular commentors (including me). But old folks like to talk loudly so that finally they can be heard. It is also best to be controversial, then others will reply. Otherwise it is like a dead fish over in the FB page.

    ReplyDelete
    Replies
    1. I think less than that. Who knows some of the noise makers are blog owner herself leh, which she can post to support herself. Those who against her she also won't upload. So looks like she have alot who agree with her lor. If u do that in FB you can be blocked. Maybe you are right. This blog is good as playground for people to come here to pastime.

      Delete
    2. Who knows and who cares. Old folks just want to be heard before they have no chance to do so. Same for us all, we will not be returning here once we sold TC to developer. So lets have fun and enjoy ourselves. Better than being dead like the FB page.

      Delete
    3. The TC FB is not dead. It's just that the noise makers dare not post there & prefer to do it here thinking there they can attack and defame anyone safely under anonymity. In short they are just keyboard warriors. If they really have something positive to share there is no reason why they can't share it at FB. Even if there's no reply from the team for whatever reasons, SPs can still communicate there & have discussion with each other & sharing our concerns.

      Delete
  8. CSC should keep within the regulations. There were past missteps in this Enbloc that could jeopardize this sale in the courts. TC should take advantage of this great timing and NOT fail on a technicality.
    MA offer to witness the opening and revealing (to be confirmed by CSC?) of all bids is commendable. We'll be there.

    ReplyDelete
    Replies
    1. I'll be there.... M Jackson.

      Delete
    2. we will all do the moonwalk with you when we get our 963psf ppr.

      Delete
  9. Questions asked on FB with zero reply.

    Firstly, is the box sealed? Where is it kept right now?

    Secondly, can the bidders be present to view the opening of the box also (bidders should be entitled to do so, they put in effort to submit the bid).

    Thirdly, what is the form of the proposal response - price is one thing, but also the attached conditions. These should be all clearly indicated on the whiteboard for each bid submitted.

    ReplyDelete
    Replies
    1. In keeping with the spirit of openness and transparency, SPs shud have the right to see the bids. This would avoid unnecessary accusations of impropriety at the STB. Serves no purpose to invite us to Bishan just to see the tender box open and nothing else. Expect official confirmation on FB soon.
      Your concerns about confidentiality, security and accessibility of the box is valid. CSC is probably aware of our concerns, but write to them for an official answer.

      Delete
  10. Gentle reminder to the MA and SC : when doing anything, assume every SP is looking over your shoulder.

    All parties (bidders, SP) want this to go on smoothly and cleanly. The problems will arise from your actions whether perceived or actually happened.

    ReplyDelete
  11. Very curious and excited .......anyone knew or heard of any bid submitted by developer so far ?

    ReplyDelete
  12. the bids will only come in on the day itself. Bidders won't take the risk of putting in the bids in that box and have it somehow disclosed.

    So 15 Aug 3pm at Bishan CPF building. Do we need identification or it is open to all?

    ReplyDelete
  13. I have only 1 unit. So for me the important condition is when I get my money.

    The market is moving up. The earlier I cam get it then I can quickly get a new unit before the next bull run. If i have to wait 1 yr and have STB problems then by that time even 900ppr psf may not be enough as maybe pine grove and others have surpassed it.

    So once we open tender box and have a winner, pls close it so we can find our places before other enbloc and market moves up.

    ReplyDelete
  14. You guys don't expect the team so free as to come here to read this blog, let alone reply you nor are they oblige to. Even there is a reply how can you be so SURE it's from them & not from impersonator ? Notice that a valid & appropriate question was politely asked at the FB and was replied to by the SC. The proper channel of communication should be at FB or email and not here which is only good for noise makers who have no guts to use their real name to ask questions but only know how to attack the team.

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  15. Saw some Huttons ppl taking pictures of TC. Not sure of the purpose?

    ReplyDelete
  16. So here we are, whats the latest update? Anyone??

    ReplyDelete
  17. Any news so far?

    ReplyDelete
  18. Any news???

    ReplyDelete
  19. http://www.businesstimes.com.sg/real-estate/tampines-court-gets-a-bid-of-s970m-that-comes-with-conditions

    ReplyDelete
  20. what is the valuation? The RP was set when the market was not heat up

    ReplyDelete
    Replies
    1. it was announced yesterday. if you are an SP, you can find out from MA.

      I realise there are a lot of non SP sour grapes who just want TC enbloc to fail. Just looking at the TODAY FB page, all of them are not SPs yet trying to talk down the enbloc, just like some people here. So any discussion here is really meaningless.

      https://www.facebook.com/todayonline/posts/10155082419817572

      Delete