No, I am not going into producing a new drama. Come to think of it, it might not be such a bad idea after all.
Anyway, I want to thank some readers who have contributed materials for me to be put up in this blog. I must say I am very intrigued by the findings. Right now, I have to salute the minority more than the management members.
In time to come, I will release bit and pieces of it or maybe even the whole chunk of it. Do keep your mails coming either via this site or my mail direct. It is really a pleasure knowing you guys.
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7 comments:
I have been posting some comments on your blog. Thank you for maintaining it. I hope that the final outcome for everyone, majority or minority owners, will be a good one. Cheers...
The whole episode was painful for me as one of the objectors. The pain was not so much in losing the fight, neither was it because I suffered financial loss which I did, but the fact that others can just forced me to sell my home – and all because they (the majority) were greedy. Where is justice???? This is a clear cut case where the law has created immoral behaviour. The majority have been using the justification that the estate is old and so forth, but they forget that they could always sell their house individually. Why forced others to sell theirs? It all boils down to pure greed and total disregard for others! Not a single majority owner has approach me to offer an apology nor a word of consolation. I am sickened by the whole thing!
I am sorry it was painful to you, but I cannot agree that the majority were greedy, immoral and selfish.
Maybe you are young with all the time in the world.
I believe most of the owners are in their fities and sixties.
Their children would probably have flown the coop.
They can now barely climb the stairs and they do not have the energy to clean their houses. They do not have a maid and they probably do not have an income.
If they were to sell their houses individually before the en bloc sage, it would have been around $400k.
A sum of $200k extra will go a long way for these old folks.
When the en bloc sale came up, they grabed at the chance.
Unfortunately, the minority were dead set against the sale and went all the way to the Court of Appeal.
If the sale had been completed three years ago, everyone would have been happier.
Property three years ago was not that expensive.
I guess everyone, whether majority or minority, is selfish.
Each one thinks of himself. Who doesn't?
But one cannot please everybody.
Not all will be happy. That's life.
Look at Horizon Tower, the "Lost Horizon". More people there are unhappy, I am sure. Shangri-la is now out of their grasp.
i have said this before and i will say this again. The property is owned collectively. we all know that when we buy an apartment. Thus, in the case of enbloc sales, the majority has the right to decide. I am sorry that the objector feels the pain. But what about the pain of the majority? Why should the majority forgo a better price - and we are talking about a 50% dip or more, when there is a better deal to be had? That's what democracy is about - the vote for or against the sale. In fact, this is not just majority - its a big majority!
As for apologies, it cuts both ways. If the deal had gone through smoothly 3 years ago, then the value would be worth much more, and replacement homes much less expensive as now. So for the majority who waited for the minority in their various appeals, do you think they do not feel the pain too? the decision for or against the enbloc is for everybody - so even if we do not blame you for pursuing your rights, i do not see why you should expect us to apologise for exercising ours.
By the way,it is a national policy to provide for regeneration - the issue is certainly not about a law that encourages immoral behaviour. Instead, by giving so much democracy for a small minority to exercise their rights has made what should be a speedy transaction far too long to be accurate or viable. a price that is fair 3 years ago may look dismal now, but 3 years hence may look like a great price - who can tell. Speed is the essence in buying or selling - and in this instance, we have been held back far too long.
Mmmmmmmm, I own my property. The estate is own by all residents and in your words collectively
Mmmmmmmmmmmm, thus in the case of enbloc the minority has the right to decide
sure - just like we have the chance to decide who our leaders are - and majority wins. so why should enbloc be different - u have a vote - just like everybody else.
so like i said - u can pursue your legal channels - its your right, just as it is ours to vote for an enbloc. no one should demand an apology for voting contrary to our preferred choice.
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