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 SOLD


    Our Beloved Estate has been SOLD   
       S&P Conditions unknown       



To the happy Majority - you got here at last. Mostly by luck if truth be told. It is not over yet, there are still some hurdles to cross but it looks like your dreams will indeed come true. 



 To the sad Minority - for 10 years you have warded off those who would sell your home from under you. Your sentiments and sense of injustice is not assuaged by the talk of money. Your Home is sacrosanct and full of memories. It is not over yet, there are still some hurdles to cross, some of you might make an objection at the STB, but I feel it might be futile. My condolences to this group of owners.


To the neutral Minority - You did well to stay out of the fray, keep to the sidelines and be true to the notion of neutrality. Sell or Stay makes no real difference to you. It is not over yet, but you will probably do the sensible thing and wait for STB approval before buying another home.

http://www.straitstimes.com/business/property/sim-lian-bags-tampines-court-for-s970m-in-biggest-en-bloc-sale-here-in-decade


What is this CSC member talking about?

Why do people NEED to sign after the deal is closed? Either it is closed or it is not. The Law requires 80% only and even if they get 99% it will make no difference to the timeline. So, CSC... is the deal done or are there outstanding conditions that need fulfilling?  It is indeed frivolous and unnecessary for Minority owners to sign now. It will not hasten the process and only binds them to costs should the deal be abandoned later. I have no intention of signing and I do not like to be given false reasons to sign. So, I ask this CSC member... why is there a NEED?

His reply:

So, there is NO NEED after all as the deal is indeed signed and sealed. The Buyer is brimming with confidence as he just signed a near billion dollar deal - no sign of a wobble there.

So - in order to counter this FAKE need let me say:

a) The money will not come any faster if the present majority is increased.
b) New signatures will have no effect on the process and serves no purpose. 
c) New signatories will give up their rights for no reason whatsoever.
d) 100% consent is impossible



29 comments:

  1. Shall we close this blog for a while? There is too much fake news and speculation all across.

    last hour, we thought the whole deal was over. this hour, the deal is signed. The truth will finally come to light, and those who posted fake news will be made known.

    ReplyDelete
    Replies
    1. The Drama of Tampines Court is not for the faint hearted :)

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  2. The SOLD news is it coming from csc members? Hope is not another fake news, is very depressing people can give false information.

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  3. TAMPINES COURT facebook page confirmed sold from CSC

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  4. It official TC is SOLD. Update from Facebook.

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  5. Agree it would be futile to object. I had wanted to object as i need to pay Seller Stamp Duty for the sale. However, there is no financial loss as there is still a lot of meat left after SSD .Based on shunfu case, objecting on the basis of "can be sold for higher sale price", SSD etc..will be waste time, waste money (lawyer fee)... So for me, will just take money and move on. Alas..got to say bye bye liao!

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  6. Yes, sold. As a minority owner, I will take it and move on. There is so many alternatives out there, some better ones which God has blessed us with..so let's move on guys.

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  7. Sometime I love and hate your blog, getting more signatures properly they have reasons please don't give negative thoughts.

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    Replies
    1. She is too paranoid & talkative. I am glad when this enbloc is all over. We better pray hard she won't be our new neighbor when we move to a new place with enbloc potential. Real bad luck to have her as our neighbour.

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    2. We are all matured and pls respect each other's view and opinions. I think the blogger should have some points otherwise it is non logic to object to this once in a life time opportunity.

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    3. I think one has the absolute right to be paranoid after the Enbloc 1 disaster. It upset a lot of people on both sides of the fence.

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  8. Please appreciate the enbloc group for doing their jobs is not a easy tasks doing a big project and while learning the process

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  9. Take the money and move on. It's done. Period.

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    Replies
    1. Agreed ! Stop making any more useless noise ! Just shut down the blog and wait for the cheque!

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  10. My understanding is that if 100% of owners sign, then there is no need to apply to STB. Hence the completion date will be earlier and sales proceeds received earlier. However, moving out date will also be earlier. I believe some people hope to drag their last days at TC as farther as possible. That will give more time to look for a new home.

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    Replies
    1. That's a good explanation for possible reason to request for more signatures. Thank you! In any case it's just a request not a compulsion. What's the big issue really ?

      Shame on the blogger who only know how to use every opportunity to attack & defame the team ! Will she thank the team & the majority when she become a multi-millionaire when enbloc is a suceess ? I doubt so lah. She will find some reason ro complain again ! By then she thankfuly is no longer our neighbour. Good riddance !

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    2. Why want to drag on ? Property price is going up. Smartest way is to get the money asap & buy a unit before it become more expensive.

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    3. Absolutely right. That's why SC wants more signatures on 25th August. If 100% signed, no need to go through STB. And we can get money sooner. The sooner the better. You see those condo sales so hot, 100% sold within one day. If we drag further, we will be left out with nothing good in the market.

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    4. This few days i make some enquiries. All the units i shortlisted earlier all snatched up. Must be very hot with so many enbloc going on ! Hope by the time we get our money the size we can buy with the money won't shrink. Must strike when the iron is hot !

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    5. Would we be in this position if the RP was $960M at the start? Would we have got 100% within a month and we'd have been able to purchase before all the other estates went en-bloc?

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    6. Where exactly are prices going up?They have more or less stagnant for the past 2 years.

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    7. Can u assure that prices will still be "stagnant" when all the owners of current & coming enbloc get their sales proceed? I believe there will be a mad rush to buy a replacement homes to stay once they get the money !

      One must understand the meaning of 'supply & demand' to understand what it means by "prices going up'.

      You possibly belongs to those SPs who already has another home to stay & therefore there is no urgency for you to buy a replacement unit.

      Think for the rest of the SPs who need to buy a replacement home asap before "prices going up" !

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    8. Many owners of last and this year's enbloc have gotten their money already. I saw no real impact on overall property prices. You would see short term flactuations in the immediate vicinity of enbloc properties but it's mostly sellers raising their asking prices hope to cash in on their neighbours fortune. Transacted prices though are minimally affected. Even less noticable on a national scale. It takes much more than just a few enbloc spread out over a year to make a real difference.

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    9. Also, it is never a good idea to commit to another property if you have to rely on the Enbloc proceeds to finance it. There is always a risk of delays. It has happened many times before.

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    10. Transacted prices are determined by buyers willingness to pay for asking price. With so much cash in hand kiasu buyers would be willing to pay crazy prices to greedy sellers if need replacement units urgently and the higher 'sold' prices would be recorded in the next transaction and there will be upward chain reaction of escalating prices.

      The point is can you assure the SPs that price will remain 'stagnant' so we can take our own sweet time to complete? You can't right ? So what's wrong to suggest strategy for early completion and have our money early ?

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    11. If we have 1 year, we can have the luxury of looking for bargain prices but unfortunately not so. If we are lucky to have 6 mths it will be very rush, so most TC buyers will just grab a unit they like and pay above market prices. So likely it will be seller's market & there will be upswing of prices. It's better we get the money earlier to avoid competition from other enbloc SPs in the coming months like NP and FR etc.

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    12. Complete now or later, you always only have 6 months to vacate. Most buyers can only firmly commit to a new property once they receive their enbloc proceeds. Completing later will give you more time to shop around for a better deal.

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  11. Even though it would mean skipping the STB altogether and possibility of shortening the process when there is 100% on board, there would still be folks who will not sign...and add to the fact that the sale is a foregone conclusion (good luck to objectors)..there will still be people who will not sign...blogger is one of them..."matter of principle"...so they say...so its unrealistic to expect 100% on board. But anything can happen these days..2 years ago..nobody expect this day will happen..

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    Replies
    1. Forget about the blogger. She just can't stop complaining just for the sake of doing so. I believe even many minority are getting pissed by her ! For the rest of us let's work together to get our money asap so we can buy a replacement home before price shoots up !

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