A Minority Owner's chronicled journey through 3 Collective Sale attempts; the last one being successful. TC was a 560 ex-HUDC estate with a thriving community spirit (up until the enblocs that is). I have moved on to a new, 37 unit Freehold estate. Life is quiet now with zero community feeling.
If MA say that " purchaser not willing to wait etc ", it's obvious they are not acting in seller's interest & just want to put psychological pressure on the seller to close the deal fast. Lodge a complaint to CEA.
The reason why the MA ans SC will need to go back to the owners is NOT because there was a re-affirmation clause in the CSA as you prposed. The reason is that non of the the developers can meet the reserve prices.
There is already a safeguard which is the reserve price and the indenpdent valuation.
The RP is no safeguard when it can be lowered. The valuation is no safeguard after the fact. The approval for a lower price is not what it seems.
The 'approval' is not after the bids or offers - I have already made a challenge over this and the answer is quite shocking. Owners just imagine their approval to lower the RP will be sought AFTER the bids or offers are in - but it is not true. I got that straight from the horse's mouth.
So, in the article it says "we will then go to the owners with the bids" - watch out TC, it's not going to happen like that in our estate. Something is afoot.
http://imcmsimages.mediacorp.sg/CMSFileserver/documents/006/PDF/20111021/2110PCC054.pdf There is a growing number of people who would press to sell at en-bloc with openly lowered price.
Thinking out of the box. 
If MA say that " purchaser not willing to wait etc ", it's obvious they are not acting in seller's interest & just want to put psychological pressure on the seller to close the deal fast. Lodge a complaint to CEA.
ReplyDeleteThe reason why the MA ans SC will need to go back to the owners is NOT because there was a re-affirmation clause in the CSA as you prposed. The reason is that non of the the developers can meet the reserve prices.
ReplyDeleteThere is already a safeguard which is the reserve price and the indenpdent valuation.
The RP is no safeguard when it can be lowered.
ReplyDeleteThe valuation is no safeguard after the fact.
The approval for a lower price is not what it seems.
The 'approval' is not after the bids or offers - I have already made a challenge over this and the answer is quite shocking. Owners just imagine their approval to lower the RP will be sought AFTER the bids or offers are in - but it is not true. I got that straight from the horse's mouth.
So, in the article it says "we will then go to the owners with the bids" - watch out TC, it's not going to happen like that in our estate.
Something is afoot.
New home sales soar, despite global uncertainty
ReplyDeletehttp://imcmsimages.mediacorp.sg/CMSFileserver/documents/006/PDF/20111018/1810HNP004.pdf
Again, we see prices are still going up. The agreed RP is a BIG mistake!
http://imcmsimages.mediacorp.sg/CMSFileserver/documents/006/PDF/20111021/2110PCC054.pdf
ReplyDeleteThere is a growing number of people who would press to sell at en-bloc with openly lowered price.
no worries... once the uncertainties catch up with the unsubstantiated euphoria, prices will moderate.
ReplyDelete