Sep 14, 2017

Just Waiting


There's nothing to do but wait for :

1) the advertisement* of the particulars of the sale in the local papers followed by
* 4 daily newspapers on Mon 18 Sept, 2017

2) the  notice of the collective sale (a large bundle of documents) sent to each owner by registered post. These will include the CSA, S&P, Valuation Report among other things

3) minority objectors have 21 days from date of notice for collective sale to make an objection at the STB.

4) the Application* for sale to The STB within 14 days of the newspaper advertisement.
* 22 Sept 2017

5) wait 60 days or less for the STB Approval or Stop Order from date of first mediation

6) wait 3 months from XXXXXXXX (we have been given the runaround on this)  for completion of sale and money in your bank

7) stay for 6 months if necessary to prepare to move out.


















CAVEATS
A comment below said they he/she had received a letter from the SLA informing them that a caveat had been lodged against their unit.

What is a caveat?
A caveat is a legal document lodged with SLA by a purchaser to protect his/her interests after an option to purchase is exercised or a Sales & Purchase Agreement is signed

This is normal practice as the buyer has a caveat-able interest in the majority units. The buyer should not, however, lodge caveats against the Minority units until such time as the STB approves the sale.


Note:   As of Thurs 8 Mar 2018, no caveat has been lodged on my unit. The CSC has sent in a Notice of collective sale and that is reflected in MyProperty details - but the Buyer has not lodged a caveat on my minority unit to date.


5 comments:

  1. Received a letter from SLA with regards to Caveat matter. Now finally got the feeling that the house is going...

    ReplyDelete
    Replies
    1. That's interesting. This is the purchaser lodging caveats against the units.

      I hope I do not receive one prematurely as the STB has not yet approved the sale.

      This issue was raised in Rd 1:

      http://www.tampinescourt.net/2007/06/caveats.html

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    2. Thanks blogger for update. Hope for some closure soon for this enbloc process. Still remember enbloc round 1 almost went through at a price which was ridiculously low, compared to now. Just want to say appreciate blogger for being a voice of reason and defending the minority all these years or TC could have easily gone the way of gilman heights or minton rise.

      Delete
  2. Hope we can get this enbloc done quickly to have peace of mind. Everyday having news of North Korean warmongering and the upcoming hike in property prices

    ReplyDelete
    Replies
    1. You want fast, go for 100% signature & bypass STB. Sorry, no other ways.

      Delete