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Sunday Times commentary article and five accounts of the post-en bloc consequences pursuant to the Gillman Heights en bloc sale ordered in Feb 2009
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The Sunday Times, 6 Jan 2011by Jessica Cheam
Comments in ST Interactive Online Portal:http://comment.straitstimes.com/showthread.php?t=41865
purplepepper R E P O R T P O S T
February 06, 2011 Sunday, 01:33 PM
Wish that people can be sued for causing trauma and anxiety to those who are forced to sell. Hope the reporter will do follow ups on other estates. Only those who own multiple properties will gain.
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nemo8888 R E P O R T P O S T
February 06, 2011 Sunday, 03:42 PM
If not wrong, when >80% owners signed on dotted line to sell, it was at RECORD PRICE at that time? If mkt crashed after that, will they kpkb then ?
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February 06, 2011 Sunday, 11:45 PM
They said that plot ratio must be maximised to accomodate more people, but every time somewhere goes en bloc, up comes a "high end" project. The former residents get downgraded or enter into fresh debts, while the land is reccyled into "up market" projects. For whom are they building these homes?
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AbolishNS9abolishNS R E P O R T P O S T
February 07, 2011 Monday, 03:33 PM
Dear liangjwc1, your's a great idea - our 'noble' & 'capable' politicians should make their pay proportional to the lowest 1/3 of our voters' purchasing power
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kokoobird R E P O R T P O S T
February 07, 2011 Monday, 04:06 PM
Quote:
Originally Posted by purplepepper Wish that people can be sued for causing trauma and anxiety to those who are forced to sell. ....
One of these days... someone will commit suicide becos they are force to sell.
Then the family will sue...
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purplepepper R E P O R T P O S T
February 08, 2011 Tuesday, 03:55 PM
Notice many of those who have their homes en bloc'd bought HDB resale flats, squeezed along with PRs, first timers and new citizens. No wonder HDB resale pricesshot through the roof. And brand new spanking expensive flats sitting pretty on the en bloc'd site waiting to be speculated. What's happening?
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ADDENDUM – Comment by The Pariah: Nemo8888's point: Sign at record price and regret later. Nemo8888 has bought into the GREATEST con job that the PAP Govt did on condo owners.
Collective Sale Agreement (CSA) = Agreement-IN-PRINCIPLE To Sell. It is NOT an Agreement To Sell.
Why?
ACTUAL Sale Price (the most vital basis of contract) is UNKNOWN to signatories at the time of signing CSA!
BY LAW, Reserve Price could be established up to almost 24 MOONS BEFORE Actual Sale! Even Supermarket Special Offers are valid only for 3-7 days!
Once you sign CSA, you are BARRED BY LAW from objecting to the sale in tribunal/court. This is despite the fact that Sale Committee sold at/above Reserve Price that is ALREADY out-of-whack with Current Market Value at the time of Actual Sale (which may be nearly 24 moons later).
The Pariah, www.singaporeenbloc.blogspot.com_____________________________________________________________________________________________________________________
