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.
December is holiday session while most residents will be away. It is better for SC to schedule the last few signing sessions in Jan 2013 and then leave it to residents to decide if they wish to join the CSA before the end date.
It would have to be early Jan as, technically, they have to give 5 full cooling-off days (excluding any day which is a Saturday, Sunday or public holiday) starting from after the day on which the collective sale agreement was signed by him and ending at 5 p.m. on the last day of the cooling-off period.
So, if 5pm on the 11th Jan is last cut-off time then the signatures would have to be in by Sun 6th Jan at the latest
With the 5 cooling-off days, I am sure SC will not set 5pm 11 Jan 2013 as last day of cooling-off period in case some residents change their mind after signing CSA.
In this scenario, even 1 resident's decision can change the fate of this enbloc if SC can achieve exactly 80% on 6 Jan 2013. There is no reaction time for SC to look for other residents to join the CSA.
In practice, we will know the outcome of this enbloc by end of December 2012.
En bloc for Tc will never happen....Even if price is at all time high people will ask more. The government has released more land in prime areas and this will inevitably bring prices of all property down eventually. Hence if prices go down and then we will have to sell at a lower price if the need for money rises. I personally hope that interest rates go up and tap hat will bring prices all the way down...Win win for Allie new buyers and over pricing...
December is holiday session while most residents will be away. It is better for SC to schedule the last few signing sessions in Jan 2013 and then leave it to residents to decide if they wish to join the CSA before the end date.
ReplyDeleteIt would have to be early Jan as, technically, they have to give 5 full cooling-off days (excluding any day which is a Saturday, Sunday or public holiday) starting from after the day on which the collective sale agreement was signed by him
ReplyDeleteand ending at 5 p.m. on the last day of the cooling-off period.
So, if 5pm on the 11th Jan is last cut-off time then the signatures would have to be in by Sun 6th Jan at the latest
With the 5 cooling-off days, I am sure SC will not set 5pm 11 Jan 2013 as last day of cooling-off period in case some residents change their mind after signing CSA.
ReplyDeleteIn this scenario, even 1 resident's decision can change the fate of this enbloc if SC can achieve exactly 80% on 6 Jan 2013. There is no reaction time for SC to look for other residents to join the CSA.
In practice, we will know the outcome of this enbloc by end of December 2012.
En bloc for Tc will never happen....Even if price is at all time high people will ask more. The government has released more land in prime areas and this will inevitably bring prices of all property down eventually. Hence if prices go down and then we will have to sell at a lower price if the need for money rises. I personally hope that interest rates go up and tap hat will bring prices all the way down...Win win for Allie new buyers and over pricing...
ReplyDelete