Sorry folks. Go buy your own house as soon as the money comes in. No extension of stay for those who are still hoping property market can go down further.
No need to hope for some funny situation similar to Gillman Heights too.
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I have asked around friends and colleagues who have gone through en-blocs and I think we could have done better with the payout terms. What I mean is that we could have the developer release the 10% payment currently kept by the lawyers to us early so that we could go out and make bookings for alternative housing. As it is, we will get the lump sum on 4 Jun 09(hopefully this does not slip further) and be expected to vacate Minton Rise by end Dec 09. This is too rush if one is buying a home. There are many factors to consider, location, age, renovation etc.. Already sellers are sensing this rush and stubbornly holding their asking price if not increasing them. Rushing into buying a home is never a good thing
urgent! important! act!
A new problem has cropped up. The present management committee is suing a few guys for $100k for owed management and other fees.
That would mean a delay in the completion date. For each day delayed, the buyer wants each household to us $160+.
We must impress upon Mr Ken Pereira, Mr Bernard Tee and other members of the minton rise mc that they would be causing us unnecessary delays and money.
Just imagine. $163 a day. $1,630 for 10 days and $163,000 for 100 days.
So whether you are pro and against the en bloc, if you dont want to lose your trousers/pants, go knock on the doors of the mc members and tell them to wake up and stop the case.
heard MC lawyers Tan Chin Hoe & Partners told en bloc lawyers they wont be pressing charges against those owing money to the estate.
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