Recently Marine Point went before the Strata Titles Board, and there was some question raised about the Valuation.
ERA was the marketing Agent for Marine Point
ERA was the marketing Agent for Marine Point
The story (as far as I know, though I have to doublecheck):
Valuer (A) did a Valuation report at the close of tender of the sale.
The Valuation was higher than the Proposed Sale Price
There was a Supplemental CSA and a new tender.
There was a Supplemental CSA and a new tender.
They wanted Valuer (A) to lower his valuation but he refused because he felt his first valuation was correct.
So, the Sale Committee got Valuer (B) to do a fresh Valuation and this, they claimed remained sealed and unknown until the close of the second tender.
When they opened up this second valuation they found it to be just right and the sale could then go through!
It must have been magic! It just shows, if you wish hard enough for a perfect match between valuation and proposed sale price, and are prepared to pay for repeated Valuations and cross all your fingers and toes, and swear in court that you didn't influence the outcome in any way, then your wish will certainly come true!
Could this be Tampines Court's fate?
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