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."

SALE IS NOT CONFIRMED
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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.

Blogger's position

Will there be objections made at the STB?

I believe there will be a few (possibly 4) people objecting to the sale. This is Tampines Court - we don't go down without a fight or, at the very least, a squeak.

Will this blogger make an objection at the STB?

I thought long and hard about this. On the one hand, this CSC and this Marketing Agent do not deserve an officially clean record at the STB. This collective sale was a bungle from beginning to almost the end. It seemed both teams of 'experts' had a learning curve to overcome. They worked from low expectations and high negativity about the estate. On the other hand, this was all overturned in the last month of the first period. They went with the flow of the market and for the majority at least, all was forgiven. I also want to say that even in the face of this obstreperous blogger the MA and Lawyer always comported themselves with professional grace, never once raising their voice or threatening me with legal action. They may not have answered my questions to my satisfaction - but at least they were never, ever rude. 

Was there a lack of good faith?
In my humble opinion, no. 

So, this Blogger will not be throwing her hat into the ring. Other Minority might object as is their right and if any unfair practices are unearthed in the process then I shall accept whatever judgement is made - if it goes that far - which I doubt.

27 comments:

  1. Either way I don't think TC has much to lose. At most we go for round 4 which may give us higher payout. I only feel sorry for those old folks who cannot retired & those silly SPs who want to throw their money into the drain.

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    1. What Round 4 are you talking about? There is no Round 4 brother. Who is going to serve as your coolie dog in the CSC. Which MA and lawyer will want to serve you? and...even assuming u get 80% signatures, who is the buyer? Stop dreaming about Round 4, or 5, or 6. Its now or never.

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    2. If we go for round 4, our RP will be 2M. With a new team of CSC, we can get 80% easily! With good money to make, MA and Lawyer will be happy to serve us, so no worry.

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    3. 2M? meaning you're earning less 300k now?
      why wasting time for round 4 to get your extra 300k?
      If i'm in your situation, get the monies and look for 2nd enbloc for another million...

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  2. End of the day, if developer pulls the plug on the sale, objection is nothing more than pure academic exercise...The blogger has been kind enough to state her position and it will definitely help allay any palpitations. I have a strong feeling the est LUP will come below the stated LUP in the S&P...close but below. I think the number will be out these few days...lets all hope for more good news...the blogger is spot on to infer that thus far the 3 amigos running the ship has been extremely lucky to be able to thread a needle from 12 floors above,..lets hope their luck do not run out in the final moments...tc patriot.

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  3. Buyers of Enbloc sales can now Cherry pick for the best choice of location location location and walking distance to MRT stations.Case in point "Eunos Ville"

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  4. Is now or never. Enbloc 4 is next 2 years developers land bank is full, DC rates will be higher, by then market is flooded with new launch condos.

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  5. If you look at the date of the TC FB, you can see 2015. That is the year we started to queue up, and as luck would have it, we were almost ready to give up, and then the enbloc tsunami came, and we were right that in front of the queue taking everyone including MA and SC by surprise.

    Often, we need to make one small decision and it turns out to be a life transforming one. It took 3 yrs for this 3rd enbloc try, and I think its time to move on. The economy is still at a stage units have not moved up a lot, though it may with more enbloc successes...

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  6. objectors are those who have stalls or shop around this vicinity.

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  7. Thanks blogger for stating your position, at least you are upfront about it and respect your opinion. At least we got the crucial no lack of good faith reason settled. But if mediation fails, unlikely anyone will want to object to high court right?

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  8. As if a squeaky clean STB actually matters or means anything. If you have a valid ground of objection go ahead and object. Its just a waste of money if you don't. Its all quite clearly spelled out.

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    Replies
    1. There is a bigger picture here. The Government will look to the STB and the number and quality of objections to gauge how successful their 'LTSA Laws' are and draw conclusions on how happy people are with enbloc. If there are zero objections than they will surmise that all is well, perfect in fact. No objections = job well done

      That is not necessarily the case. If the Government were to tweak the LTSA further (and it should now that Baseline Confirmations are completely bypassed by MAs and CSCs) then there must be a push in order to do so.

      Collective sales are here to stay. The LTSA can and should be tweaked further, because as they stand it's just too much guesswork. It really shouldn't be this difficult to get basic information.

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  9. Is 1% commission too high? last en bloc cycle.,commission is usually below 0.5%,even project costed only 20 mlllion.
    What are the comms in previous rounds?
    2.
    No one dare to tell development baseline.
    But they call themselves professional.
    Shall we call them estimator ,in stead of valuer.

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  10. Hi blogger, from your experience, what type of unfair practices can you think of? Dont think there was any harassing or aggressive sales pitching to SPs right

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    Replies
    1. Blogger is not an objector, so should not give any reasons for objectors to support theit case. Look for your own reasons to waste your money if you have too much to throw into the drain.

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    2. Did I even say I was an objector?! I am just clarifying what is unfair practices as she mentioned in the posts. I thought as long no lack of good faith, there will not be a solid case for objection to STB or high court

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    3. If mentioned here it's as good as giving bullets to the objectors. Why should we give them ideas of the grounds to object ? Let them spent money to seek legal advice. In fact at this stage we shouldn't discuss too much in details & just wait for results.

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    4. Anonymous 10.1 Not true. Just because the blogger is not objecting does not mean that she cannot give her opinions on possible reasons for objectors. I believe that even though the blogger has her own stand, the idea of this blog is to provide en bloc information that is useful to the general public, and not just information supporting a particular stand.

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    5. Anonymous 10.3 You are obviously unable to maintain any objectivity as you are blinded by your own desires. Therefore you should probably refrain from taking part in discussions on this blog as this is not the platform for one sided views. This blog serves as an informative factual guide to the public, rather than merely for bias agendas.

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    6. Nice try. Objectors are desperate for ideas to object and trying to entice the bloggers to give him or her ideas to do so. Lol.

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    7. Objections are suppose to be confidential and should not be topic of discussion in this blog. Please consult your own lawyer if you want ideas to object.

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    8. Mediation is confidential, nor objections, and one does not need a lawyer to object at the STB.

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    9. Yes, but you need objections to lead to mediations. Why must give ideas to the objectors to object? Although he don't need lawyer to object, he can still seek legal opinions on his case and pay for the service. The best is for bloggers to stay neutral to be fair to the majority.

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    10. 10.5 You are contradicting yourself. To insist that people should allow you to talk on a particular sensitive topic and you get angry when others object. Is it not also imposing your "one sided view on others to bias towards your personal agenda, blinded by your own desires " ? Please practise what you preached about democracy.

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    11. This comment has been removed by the author.

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    12. anonymous 10.6- Believe it or not, i am not an objector so i was not even trying. Lol.

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  11. What is there to object ? No one has suffer any financial lost. Lack of good faith or irregularities  need to be proven. I don't think sales pitch, even though aggressive or negative is a good ground for objection. You didn't sign the CSA inspite of what you read or hear from sales pitch right ? So ?

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