More Voices - Selfish Developers and Every Resident

Two posts online with the first giving a very real recount of his experiences of the tail-end of enbloc sales, when everyone has their dosh and couldn't care less about those who have not cleared the property yet. This first posting is from an expat forum, where the poster "Porean" described his own experiences of what happens after the en-bloc sale is legally completed. I'd described the situation and the legal inadequacies here, but here's his account:-

From Porean
Posted 9 Feb 2007

My building's gone en-bloc and already the owners have torn down our tennis court to build a showflat, before the official date that everyone should be out. They want to start selling the new partments before demolition/building starts. Of course!

Spoke to the developers recently and was told that "we have a right to come in to do this because we own the building"
Lights in the corridor are dimmed to a minimum and our security guards have been paid late every month. One security guard was paid his salary on the 15th rather than on the 1st. And the building management says they no longer are employed to do what they used to do.

So folks, just a little taste of what happens when your building goes en-bloc. Business rules!

The second post is from sgforums, in response to a letter to the Straits Times Online Forum (which I've reprinted here) :-

From BillyBong
Posted 9 Feb 2007

I've always said that if residents choose to go for En-bloc sales, EVERY RESIDENT in that block must agree to sell. If even one refuses, the sale CANNOT go through.

Mr Hanafi spoke from the heart.

Instead of seaching for a home, our people have become greedy traders, driven by the smell of cold hard cash rather than a proper home. Their only justification that helps them sleep better at night is that they pocket a sizable profit over their original purchase price. And that makes the transaction worthwhile.

No thought is given to the reluctant owners, who now feel displaced against their will, or those who lose out because they stand to make a loss from the sale, despite STRATA claiming that CPF losses do not equal financial losses.

And one wonders why Singaporeans continue to complain about our own self-centered behaviour?

Tags: date of completion, completion date, date of vacant possession, real estate, property, enbloc sale, enbloc, en-bloc sale, en-bloc, collective sales, condo, singapore, collective sale