Look at this warning:
I don't think this is even legal. No where in out S&P does it say that we are liable to pay damages if the Buyer can't handle the workload.
- How are owners to know how many slots are available?
- How are owners supposed to know how many men Sim Lian has assigned to the task?
- Why can't Sim Lian employ more people to the task KNOWING IN ADVANCE that there might be a rush at the end?
- By right, all owners have a full 6 months to vacate inclusive of 10 Business days written notice to the developer (see 14A of the S&P). -
The owner has a responsibility to hand over vacant possession giving the Buyer 2 weeks notice (10 business days). This 10 business days was a condition set by the Buyer in the S&P and so they must honour it by boosting their manpower if need be.
But there is another little not-so-innocuous clause in the S&P - 12.35
12.35 says that we, the venders, have to comply with all reasonable administrative directions.
Q: Does this clause let them off the hook? - one clause laying down the administrative guidelines of handing over and the other the power to penalise you if you take your 10 days at their busiest time?
But there is another little not-so-innocuous clause in the S&P - 12.35
12.35 says that we, the venders, have to comply with all reasonable administrative directions.
Q: Does this clause let them off the hook? - one clause laying down the administrative guidelines of handing over and the other the power to penalise you if you take your 10 days at their busiest time?
Isn't this warning (or threat) akin to those false signs in shops which read "no returns or exchanges " when we know there are Lemon Laws which protect all buyers.
Sensible comment below :
Nice :)
I fully agree with you. The rrsponsiblity of the selllers are to hand over the property in good time. If the delay is because the buyer cannot handle the workload its not the sellers failt. Not all SPs are that lucky to have alternative accomodation in hand. I believe most are waiting to receive the money before purchssing a reolacement home.
ReplyDeleteSpend a billion dollars and do this to their reputation. Whats the point of this bullying? Are SP kids who have to be talked to this way?
ReplyDeletemessage shall be sent between two lawyers before reaching SP.
ReplyDeleteFB IS NOT A proper and legal channel.
If developer wants the land early why not give alternative place for SPs to stay for free up to 6 mths & help with the removal. Afterall I all sure they have many vacant units in their projects. Who knows SPs msy even buy the units from them.
ReplyDeleteMust we pay taxes on property that we do not own? Continue to pay sinking fund on an estate that's earmarked to be demolished? What next? A toll booth for vehicles that ply along the public road fronting the New TC? Will the future Govt bill me back taxes on the car that I sold many years ago? Can IRAS charge me on income that I did not earn? Ridiculous! Utter Rubbish!
ReplyDeleteMr Chairman, Mr Eldan what does the Law say?
We have all recently paid up our Property tax for the year 2018. It is prorated and we will get a refund from the Developer depending on when we leave. So, If I leave in Aug 2018, I expect to get Sep-Dec property tax returned.
DeleteThe maintenance & sinking fund were negotiated by our SC
Why must we pay sinking fund? Are there any plans to upgrade the Lifts, repaint the estate or a major overhaul of TC electrical systems afoot during the rent free period?
ReplyDeleteNot a single cent yet received and chasing us out like moneylenders
ReplyDeleteBy 12 June, The sales is deemed completed & we no longer own the place. Why are we paying property tax? From Jun 12 onwards to Dec 12, it’s the “RENT free” period, we are “renting” this place for free, no owning this place. Why is the prop tax?
ReplyDeleteBecause they negotiated it to be so.
DeleteDear SPs, please open your eyes BIG BIG before you sign Set 4. The exact amounts for both legal fee and agent's commission are not being ascertained and established in the document. I queried the witnessing lawyer today - she got no answer for me. She just told me plus and minus 1.5%. We must not be over-sighted by these guessing games. Let us be upfront and transparent; and not signing off a BLANK cheque.
DeleteWell, they will be the landlords after June 12th and we no longer own the property anymore. As landlords, they can evict us after the contract is up. I suspect they are well within their rights to do anything they wish (legally) to kick us out as overstayers will be, technically, trespassing.
ReplyDeleteOne SP highlighted in the Facebook agent and lawyer fees are not on paper he signed. He said the witnessing lawyer said is 1.5%. I thought it’s suppose to be 1% agent com and 0.28% lawyer fee? Did anyone see this in the documents?
ReplyDeleteYes, I went to sign the 4 documents on Friday, but signed only 3. The last page, to me, is not correct. A lawyer should not be asking people to sign off on a bill they haven't yet seen.
DeleteI am going to sign today. I will not sign on the last page too. That is dangerous. What if they said our bill is $1mils and we have our signatures on it?
ReplyDeleteHi, I just signed this morning on 28/04/18. So far, only need to sign 3 docs. They never ask me to pre-sign any legal bill. Also, the agent com and Lawyer fee are stated clearly per the CSA. I don’t see any issue in signing.
ReplyDeleteHa! very interesting :)
DeleteI wonder if this was just an oversight by your young lawyer or was it widespread?
Withdrawal of Form 4 - what was the push, I wonder/
I signed form 4 yesterday. Upon reflection I shouldn’t have. Yes, the fees are laid out in black and white. What’s not laid out are the miscellaneous lawyer fees so they could be anything
ReplyDeleteMy own experience and a check with other enblocers; Owners handed in documents and signed declaration together. Legal/marketing agent fees were indicated and lawyer briefed owners that although final value may differ, it would not be substantial.
ReplyDeleteTC does things differently. It may not necessarily be wrong, but is it efficient, saves SPs time and costs and is it the right and proper way?
There are many relevant questions raised here, on FB and in face to face encounter with lawyers on discrepancies in commission, personnel unreachable without any response from those in charge (CSC I presume) Yet we have been warned of serious financial penalty for not handing over unit on time with no information on how many slots available daily, whether weekends are available for handing over. Has the CSC been dissolved? Is ANYBODY looking after our interests?